DigitalBridge Group (NYSE:DBRG) Reaches New 52-Week High – Should You Buy?

DigitalBridge Group, Inc. (NYSE:DBRG) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $15.80 and last traded at $15.7850, with a volume of 4018436 shares changing hands. The stock had previously closed at $15.80.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Truist Financial initiated coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of DigitalBridge Group in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.

DigitalBridge Group Price Performance

The firm has a 50-day moving average of $15.67 and a 200 day moving average of $15.34. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 32.19 and a beta of 1.48.

DigitalBridge Group Announces Dividend

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

Hedge Funds Weigh In On DigitalBridge Group

Institutional investors have recently added to or reduced their stakes in the company. CIBRA Capital Ltd bought a new stake in shares of DigitalBridge Group in the 4th quarter valued at about $2,006,000. Jefferies Financial Group Inc. acquired a new stake in DigitalBridge Group in the 3rd quarter valued at about $1,018,000. Vanguard Group Inc. grew its holdings in DigitalBridge Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company’s stock worth $266,177,000 after purchasing an additional 116,360 shares during the period. Azora Capital LP grew its holdings in DigitalBridge Group by 62.6% during the third quarter. Azora Capital LP now owns 3,703,734 shares of the company’s stock worth $43,334,000 after purchasing an additional 1,425,583 shares during the period. Finally, ArrowMark Colorado Holdings LLC increased its position in DigitalBridge Group by 29.0% during the third quarter. ArrowMark Colorado Holdings LLC now owns 912,121 shares of the company’s stock worth $10,672,000 after buying an additional 205,000 shares during the last quarter. 92.69% of the stock is currently 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.