DigitalBridge Group (NYSE:DBRG) Hits New 1-Year High – What’s Next?

DigitalBridge Group, Inc. (NYSE:DBRG) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $15.58 and last traded at $15.5730, with a volume of 2563772 shares traded. The stock had previously closed at $15.47.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citizens Jmp cut DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 target price for the company. in a report on Monday, December 29th. Royal Bank Of Canada cut DigitalBridge Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $23.00 to $16.00 in a report on Tuesday, December 30th. TD Cowen cut DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a report on Tuesday, December 30th. Weiss Ratings raised DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, March 2nd. Finally, Raymond James Financial cut DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.

DigitalBridge Group Trading Down 0.2%

The firm has a 50-day moving average of $15.41 and a 200 day moving average of $13.68. The company has a market cap of $2.84 billion, a P/E ratio of 34.54 and a beta of 1.61.

DigitalBridge Group Announces Dividend

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

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. 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 worth $27,000 after acquiring an additional 1,326 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in DigitalBridge Group in the fourth quarter worth approximately $31,000. Beaird Harris Wealth Management LLC bought a new position in DigitalBridge Group in the fourth quarter worth approximately $31,000. Quarry LP boosted 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 worth $31,000 after acquiring an additional 1,922 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in DigitalBridge Group in the fourth quarter worth approximately $43,000. 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.