DigitalBridge Group (NYSE:DBRG) Reaches New 1-Year High – Should You Buy?

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.98 and last traded at $15.9850, with a volume of 1333590 shares changing hands. The stock had previously closed at $15.92.

Wall Street Analyst Weigh In

A number of analysts recently commented on DBRG shares. Wall Street Zen upgraded DigitalBridge Group to a “hold” rating in a research report on Saturday, September 5th. Weiss Ratings lowered shares of DigitalBridge Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 31st. One equities research 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. According to data from MarketBeat, DigitalBridge Group presently has a consensus rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Trading Up 0.4%

The company’s 50 day simple moving average is $15.89 and its 200 day simple moving average is $15.70. The stock has a market capitalization of $3.00 billion, a PE ratio of 10.38 and a beta of 1.47.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group’s payout ratio is currently 2.60%.

Institutional Trading of DigitalBridge Group

A number of hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its stake in DigitalBridge Group by 70.4% during the first quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock valued at $29,000 after purchasing an additional 781 shares during the last quarter. Handelsbanken Fonder AB grew its position in DigitalBridge Group by 3.0% in the fourth quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock worth $575,000 after buying an additional 1,100 shares during the last quarter. Beaird Harris Wealth Management LLC bought a new position in shares of DigitalBridge Group in the fourth quarter valued at $31,000. Swiss National Bank increased its holdings in shares of DigitalBridge Group by 0.7% in the first quarter. Swiss National Bank now owns 361,425 shares of the company’s stock valued at $5,573,000 after buying an additional 2,400 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of DigitalBridge Group by 47.9% during the 1st quarter. KBC Group NV now owns 7,776 shares of the company’s stock valued at $120,000 after acquiring an additional 2,517 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is an investment management firm focused on digital infrastructure. Through its investment management platform, the company invests in and manages assets that support the digital economy, including data centers, wireless infrastructure, fiber networks, small-cell systems and edge infrastructure.

DigitalBridge serves infrastructure owners, technology companies, communications providers and other institutional investors by providing investment management and asset management services.