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

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

Analysts Set New Price Targets

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

DigitalBridge Group Stock Performance

The company has a 50 day moving average of $15.50 and a 200-day moving average of $14.28. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 31.97 and a beta of 1.49.

DigitalBridge Group Announces Dividend

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

Hedge Funds Weigh In On DigitalBridge Group

A number of hedge funds have recently made changes to their positions in DBRG. Steward Partners Investment Advisory LLC lifted its position in DigitalBridge Group by 305.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock worth $27,000 after acquiring an additional 1,326 shares in the last quarter. Parallel Advisors LLC increased its stake in DigitalBridge Group by 70.4% in 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 in the last quarter. Beaird Harris Wealth Management LLC purchased a new position in DigitalBridge Group during the 4th quarter worth approximately $31,000. Atlantic Union Bankshares Corp purchased a new stake in shares of DigitalBridge Group during the fourth quarter worth $31,000. Finally, Quarry LP grew its position in DigitalBridge Group by 1,467.2% in the fourth quarter. Quarry LP now owns 2,053 shares of the company’s stock worth $31,000 after acquiring an additional 1,922 shares in the last quarter. Institutional investors and hedge funds 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.