DigitalBridge Group (NYSE:DBRG) Reaches New 1-Year High – Time to Buy?

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price reached a new 52-week high on Thursday . The stock traded as high as $15.72 and last traded at $15.7050, with a volume of 223666 shares changing hands. The stock had previously closed at $15.69.

Analysts Set New Price Targets

Several research firms have weighed in on DBRG. Weiss Ratings raised shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, March 2nd. Truist Financial began coverage on shares of DigitalBridge Group in a report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Stock Performance

The stock has a market capitalization of $2.86 billion, a P/E ratio of 31.99 and a beta of 1.49. The company’s fifty day simple moving average is $15.56 and its two-hundred day simple moving average is $14.53.

DigitalBridge Group Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. DigitalBridge Group’s dividend payout ratio (DPR) is currently 8.16%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in shares of DigitalBridge Group by 29.4% during the first quarter. Bank of America Corp DE now owns 2,574,508 shares of the company’s stock worth $39,699,000 after purchasing an additional 584,205 shares during the period. Janus Henderson Group PLC increased its holdings in shares of DigitalBridge Group by 992.3% during the first quarter. Janus Henderson Group PLC now owns 812,377 shares of the company’s stock worth $12,539,000 after purchasing an additional 738,005 shares during the period. Amundi bought a new position in shares of DigitalBridge Group during the first quarter worth approximately $187,000. California State Teachers Retirement System increased its holdings in shares of DigitalBridge Group by 24.0% during the first quarter. California State Teachers Retirement System now owns 213,006 shares of the company’s stock worth $3,285,000 after purchasing an additional 41,171 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in shares of DigitalBridge Group by 7.7% during the first quarter. Quantinno Capital Management LP now owns 81,634 shares of the company’s stock worth $1,259,000 after purchasing an additional 5,836 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.