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

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $15.68 and last traded at $15.6750, with a volume of 974626 shares changing hands. The stock had previously closed at $15.66.

Wall Street Analyst Weigh In

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

DigitalBridge Group Price Performance

The stock’s 50-day moving average is $15.50 and its 200 day moving average is $14.28. The company has a market cap of $2.86 billion, a PE ratio of 31.97 and a beta of 1.49.

DigitalBridge Group Dividend Announcement

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

Institutional Trading of DigitalBridge Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pentwater Capital Management LP purchased a new stake in shares of DigitalBridge Group in the fourth quarter valued at approximately $176,410,000. Kryger Capital LLC purchased a new stake in DigitalBridge Group during the 1st quarter valued at about $102,736,000. KRYGER CAPITAL Ltd purchased a new stake in DigitalBridge Group during the 4th quarter valued at about $75,234,000. Soros Fund Management LLC purchased a new stake in DigitalBridge Group during the 4th quarter valued at about $36,816,000. Finally, Portolan Capital Management LLC grew its stake in DigitalBridge Group by 77.4% during the 3rd quarter. Portolan Capital Management LLC now owns 5,468,226 shares of the company’s stock valued at $63,978,000 after acquiring an additional 2,386,066 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About DigitalBridge Group

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.