DigitalBridge Group (NYSE:DBRG) Sets New 12-Month High – Should You Buy?

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.66 and last traded at $15.6450, with a volume of 2231236 shares traded. The stock had previously closed at $15.63.

Analysts Set New Price Targets

A number of research firms have recently issued reports 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 price objective on the stock. 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. Finally, Raymond James Financial cut shares of DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a research report on Tuesday, January 27th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Trading Up 0.1%

The company has a market cap of $2.85 billion, a P/E ratio of 31.93 and a beta of 1.49. The stock’s 50-day moving average price is $15.49 and its 200-day moving average price is $14.19.

DigitalBridge Group Announces Dividend

The firm 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 $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, June 30th. DigitalBridge Group’s dividend payout ratio is currently 8.16%.

Institutional Investors Weigh In On DigitalBridge Group

A number of institutional investors and hedge funds have recently made changes to their positions in DBRG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of DigitalBridge Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,556 shares of the company’s stock worth $834,000 after acquiring an additional 4,122 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of DigitalBridge Group by 45.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company’s stock worth $19,633,000 after acquiring an additional 693,613 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of DigitalBridge Group by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 392,094 shares of the company’s stock worth $3,458,000 after acquiring an additional 21,930 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of DigitalBridge Group by 12.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after acquiring an additional 1,309 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of DigitalBridge Group by 39.1% in the 2nd quarter. Cetera Investment Advisers now owns 21,360 shares of the company’s stock worth $221,000 after acquiring an additional 6,000 shares during the last quarter. Institutional investors and hedge funds 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.