DigitalBridge Group (NYSE:DBRG) Reaches New 52-Week High – Still a Buy?

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $15.73 and last traded at $15.7150, with a volume of 474023 shares trading hands. The stock had previously closed at $15.68.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DBRG shares. Weiss Ratings reissued a “hold (c)” rating on shares of DigitalBridge Group in a research note on Friday, May 29th. 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 target for the company. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, DigitalBridge Group has a consensus rating of “Hold” and a consensus price target of $16.00.

DigitalBridge Group Stock Up 0.1%

The company has a market capitalization of $2.87 billion, a P/E ratio of 32.07 and a beta of 1.48. The business has a 50 day moving average of $15.62 and a 200 day moving average of $14.94.

DigitalBridge Group Dividend Announcement

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 paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. DigitalBridge Group’s dividend payout ratio (DPR) is presently 8.16%.

Institutional Investors Weigh In On DigitalBridge Group

Institutional investors have recently modified their holdings of the stock. Aberdeen Group plc bought a new stake in shares of DigitalBridge Group in the 3rd quarter valued at approximately $3,220,000. CIBRA Capital Ltd bought a new stake in shares of DigitalBridge Group in the 4th quarter valued at approximately $2,006,000. Jefferies Financial Group Inc. bought a new stake in shares of DigitalBridge Group in the 3rd quarter valued at approximately $1,018,000. Azora Capital LP lifted its stake in shares of DigitalBridge Group by 62.6% in the 3rd quarter. Azora Capital LP now owns 3,703,734 shares of the company’s stock valued at $43,334,000 after purchasing an additional 1,425,583 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of DigitalBridge Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company’s stock valued at $266,177,000 after purchasing an additional 116,360 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

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.