DigitalBridge Group (NYSE:DBRG) Sets New 12-Month High – Should You Buy?

DigitalBridge Group, Inc. (NYSE:DBRG) shares reached a new 52-week high on Tuesday . The company traded as high as $15.66 and last traded at $15.6450, with a volume of 2231236 shares traded. The stock had previously closed at $15.63.

Analyst Upgrades and Downgrades

DBRG has been the subject of several analyst reports. Weiss Ratings upgraded shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, March 2nd. Raymond James Financial lowered shares of DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a research note on Tuesday, January 27th. Finally, Truist Financial initiated coverage on shares of DigitalBridge Group in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, DigitalBridge Group presently has an average rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Stock Performance

The stock has a market cap of $2.85 billion, a PE ratio of 31.93 and a beta of 1.49. The company’s 50 day simple moving average is $15.49 and its 200 day simple moving average is $14.19.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.04 annualized dividend and a yield of 0.3%. DigitalBridge Group’s dividend payout ratio (DPR) is 8.16%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its position in shares of DigitalBridge Group by 305.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock valued at $27,000 after acquiring an additional 1,326 shares during the period. Parallel Advisors LLC grew its position in shares of DigitalBridge Group by 70.4% during the 1st quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock valued at $29,000 after acquiring an additional 781 shares during the period. Beaird Harris Wealth Management LLC bought a new position in shares of DigitalBridge Group during the 4th quarter valued at approximately $31,000. Atlantic Union Bankshares Corp bought a new position in shares of DigitalBridge Group during the 4th quarter valued at approximately $31,000. Finally, Quarry LP grew its position in shares of DigitalBridge Group by 1,467.2% during the 4th quarter. Quarry LP now owns 2,053 shares of the company’s stock valued at $31,000 after acquiring an additional 1,922 shares during the period. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Company Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.