DigitalBridge Group (NYSE:DBRG) Sets New 12-Month High – Here’s Why

DigitalBridge Group, Inc. (NYSE:DBRG) shares hit a new 52-week high on Monday . The stock traded as high as $15.95 and last traded at $15.9150, with a volume of 1540253 shares. The stock had previously closed at $15.92.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded DigitalBridge Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, DigitalBridge Group presently has a consensus rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Stock Performance

The firm has a market cap of $2.98 billion, a PE ratio of 10.33 and a beta of 1.47. The stock’s 50 day simple moving average is $15.80 and its 200 day simple moving average is $15.61.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, September 30th. DigitalBridge Group’s payout ratio is currently 2.60%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its position in DigitalBridge Group by 305.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock valued at $27,000 after purchasing an additional 1,326 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of 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. Atlantic Union Bankshares Corp bought a new position in shares of DigitalBridge Group during the 4th quarter valued at about $31,000. Beaird Harris Wealth Management LLC purchased a new position in shares of DigitalBridge Group during the 4th quarter valued at about $31,000. Finally, Quarry LP raised its holdings in shares of DigitalBridge Group by 1,467.2% during the 4th quarter. Quarry LP now owns 2,053 shares of the company’s stock valued at $31,000 after buying an additional 1,922 shares in the last quarter. Institutional investors 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.