DigitalBridge Group (NYSE:DBRG) Sets New 1-Year High – Still a Buy?

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) reached a new 52-week high on Thursday . The stock traded as high as $15.73 and last traded at $15.7150, with a volume of 474023 shares traded. The stock had previously closed at $15.68.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DBRG shares. Truist Financial started coverage on DigitalBridge Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $16.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalBridge Group in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Stock Up 0.1%

The firm has a market cap of $2.86 billion, a P/E ratio of 32.03 and a beta of 1.48. The firm has a fifty day moving average of $15.61 and a 200-day moving average of $14.89.

DigitalBridge Group Announces Dividend

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

Institutional Trading of DigitalBridge Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC raised its stake in DigitalBridge Group by 305.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock valued at $27,000 after buying an additional 1,326 shares during the period. Parallel Advisors LLC raised its stake in DigitalBridge Group by 70.4% in the first quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock valued at $29,000 after buying an additional 781 shares during the period. Atlantic Union Bankshares Corp bought a new stake in DigitalBridge Group in the fourth quarter valued at approximately $31,000. Beaird Harris Wealth Management LLC bought a new stake in DigitalBridge Group in the fourth quarter valued at approximately $31,000. Finally, Quarry LP raised its stake in DigitalBridge Group by 1,467.2% in the fourth quarter. Quarry LP now owns 2,053 shares of the company’s stock valued at $31,000 after buying an additional 1,922 shares during the period. Institutional investors 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.