DigitalBridge Group (NYSE:DBRG) Sets New 1-Year High – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.79 and last traded at $15.7550, with a volume of 5063279 shares trading hands. The stock had previously closed at $15.77.

Wall Street Analysts Forecast Growth

Several analysts have commented on DBRG shares. Weiss Ratings restated a “hold (c)” rating on shares of DigitalBridge Group in a report on Friday, May 29th. Truist Financial initiated 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 for the company. 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. Based on data from MarketBeat.com, DigitalBridge Group has an average rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Stock Down 0.1%

The company has a market capitalization of $2.87 billion, a P/E ratio of 32.15 and a beta of 1.48. The business has a fifty day moving average price of $15.65 and a 200 day moving average price of $15.24.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.01 per share. 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 (DPR) is currently 8.16%.

Institutional Trading of DigitalBridge Group

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in DigitalBridge Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company’s stock valued at $266,177,000 after buying an additional 116,360 shares during the last quarter. Pentwater Capital Management LP acquired a new position in shares of DigitalBridge Group during the 4th quarter worth about $176,410,000. Kryger Capital LLC bought a new position in shares of DigitalBridge Group in the 1st quarter valued at about $102,736,000. Portolan Capital Management LLC increased its position in shares of DigitalBridge Group by 77.4% in the third quarter. Portolan Capital Management LLC now owns 5,468,226 shares of the company’s stock valued at $63,978,000 after acquiring an additional 2,386,066 shares during the last quarter. Finally, KRYGER CAPITAL Ltd acquired a new stake in shares of DigitalBridge Group in the fourth quarter valued at about $75,234,000. 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.