DigitalBridge Group (NYSE:DBRG) Sets New 1-Year High – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $15.80 and last traded at $15.7850, with a volume of 4018436 shares trading hands. The stock had previously closed at $15.80.

Analysts Set New Price Targets

DBRG has been the subject of several research analyst reports. Truist Financial started coverage on DigitalBridge Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $16.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of DigitalBridge Group in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.00.

DigitalBridge Group Stock Performance

The firm has a market cap of $2.88 billion, a P/E ratio of 32.19 and a beta of 1.48. The firm’s fifty day moving average is $15.67 and its 200 day moving average is $15.34.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.01 per share. 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%.

Hedge Funds Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently made changes to their positions in DBRG. Steward Partners Investment Advisory LLC increased its stake in shares of DigitalBridge Group by 305.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock worth $27,000 after purchasing an additional 1,326 shares during the period. Parallel Advisors LLC lifted its holdings in DigitalBridge Group by 70.4% during the 1st quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock worth $29,000 after purchasing an additional 781 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in DigitalBridge Group during the 4th quarter worth approximately $31,000. Beaird Harris Wealth Management LLC bought a new stake in DigitalBridge Group in the 4th quarter valued at $31,000. Finally, Quarry LP boosted its stake in DigitalBridge Group by 1,467.2% in the 4th quarter. Quarry LP now owns 2,053 shares of the company’s stock valued at $31,000 after purchasing an additional 1,922 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.