DigitalBridge Group (NYSE:DBRG) Reaches New 12-Month High – Still a Buy?

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) reached a new 52-week high on Monday . The company 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DBRG shares. Truist Financial started coverage on DigitalBridge Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $16.00 price objective on the stock. Weiss Ratings reissued 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 assigned a Sell rating to the company. According to MarketBeat.com, DigitalBridge Group currently has an average rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Trading Down 0.2%

The business has a 50 day moving average of $15.67 and a two-hundred day moving average of $15.35. The firm has a market cap of $2.88 billion, a P/E ratio of 32.19 and a beta of 1.48.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.01 dividend. 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 is presently 8.16%.

Institutional Trading of DigitalBridge Group

A number of hedge funds have recently modified their holdings of DBRG. Pentwater Capital Management LP acquired a new position in DigitalBridge Group in the 4th quarter valued at about $176,410,000. Kryger Capital LLC bought a new stake in shares of DigitalBridge Group during the first quarter worth approximately $102,736,000. KRYGER CAPITAL Ltd bought a new stake in shares of DigitalBridge Group during the fourth quarter worth approximately $75,234,000. Soros Fund Management LLC acquired a new position in shares of DigitalBridge Group in the fourth quarter valued at approximately $36,816,000. Finally, Portolan Capital Management LLC grew its position in shares of DigitalBridge Group by 77.4% in the third quarter. Portolan Capital Management LLC now owns 5,468,226 shares of the company’s stock valued at $63,978,000 after purchasing an additional 2,386,066 shares during the last quarter. 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.