DigitalBridge Group (NYSE:DBRG) Reaches New 12-Month High – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG) shares reached a new 52-week high on Wednesday . The stock traded as high as $15.77 and last traded at $15.6960, with a volume of 2087146 shares traded. The stock had previously closed at $15.72.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DBRG shares. Truist Financial assumed coverage on shares of DigitalBridge Group in a report on Tuesday, March 31st. They set a “buy” rating and a $16.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalBridge Group in a research note 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, the company has a consensus rating of “Hold” and a consensus price target of $16.00.

DigitalBridge Group Stock Performance

The firm’s 50-day simple moving average is $15.63 and its two-hundred day simple moving average is $15.07. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 32.03 and a beta of 1.48.

DigitalBridge Group Dividend Announcement

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

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its holdings 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 acquiring an additional 1,326 shares during the last quarter. Parallel Advisors LLC boosted its stake 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 valued at $29,000 after purchasing an additional 781 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of DigitalBridge Group during the 4th quarter worth approximately $31,000. Beaird Harris Wealth Management LLC acquired a new position in DigitalBridge Group in the fourth quarter valued at approximately $31,000. Finally, Quarry LP lifted its holdings 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. 92.69% of the stock is owned by institutional investors and hedge funds.

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.