DigitalBridge Group (NYSE:DBRG) Hits New 1-Year High – Time to Buy?

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $15.60 and last traded at $15.5850, with a volume of 3381088 shares traded. The stock had previously closed at $15.59.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DBRG. Truist Financial began coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $16.00 target price for the company. Royal Bank Of Canada lowered shares of DigitalBridge Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $23.00 to $16.00 in a research report on Tuesday, December 30th. Citizens Jmp lowered shares of DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Monday, December 29th. TD Cowen lowered shares of DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Tuesday, December 30th. Finally, Keefe, Bruyette & Woods upped their target price on shares of DigitalBridge Group from $13.50 to $16.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 30th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Stock Down 0.0%

The company has a market cap of $2.85 billion, a PE ratio of 34.63 and a beta of 1.61. The stock’s 50 day moving average is $15.44 and its 200-day moving average is $13.88.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. DigitalBridge Group’s dividend payout ratio is presently 8.89%.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds have recently bought and sold shares of DBRG. Pentwater Capital Management LP purchased a new stake in DigitalBridge Group during the fourth quarter valued at $176,410,000. KRYGER CAPITAL Ltd purchased a new stake in DigitalBridge Group during the fourth quarter valued at $75,234,000. Soros Fund Management LLC purchased a new stake in DigitalBridge Group during the fourth quarter valued at $36,816,000. Portolan Capital Management LLC raised its stake in DigitalBridge Group by 77.4% during 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 in the last quarter. Finally, Toronto Dominion Bank purchased a new stake in DigitalBridge Group during the fourth quarter valued at $36,326,000. Hedge funds and other 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.