DigitalBridge Group (NYSE:DBRG) Hits New 52-Week High – Time to Buy?

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $15.65 and last traded at $15.6410, with a volume of 4468746 shares. The stock had previously closed at $15.60.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DBRG. Weiss Ratings raised shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, March 2nd. Raymond James Financial lowered shares of DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a research report on Tuesday, January 27th. Finally, 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 on the stock. 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Trading Up 0.3%

The stock has a market cap of $2.85 billion, a P/E ratio of 31.92 and a beta of 1.49. The company’s fifty day simple moving average is $15.47 and its 200-day simple moving average is $14.10.

DigitalBridge Group Announces Dividend

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

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently bought and sold shares of DBRG. Steward Partners Investment Advisory LLC increased its holdings in DigitalBridge Group by 305.5% in the 4th 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. Atlantic Union Bankshares Corp bought a new stake in DigitalBridge Group in the 4th quarter valued at $31,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of DigitalBridge Group in the 4th quarter valued at $31,000. Quarry LP boosted its stake in shares of DigitalBridge Group by 1,467.2% in the 4th quarter. Quarry LP now owns 2,053 shares of the company’s stock valued at $31,000 after purchasing an additional 1,922 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of DigitalBridge Group in the 4th quarter valued at $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.