DigitalBridge Group (NYSE:DBRG) Reaches New 12-Month High – Time to Buy?

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $15.58 and last traded at $15.5730, with a volume of 2563772 shares traded. The stock had previously closed at $15.47.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DBRG shares. Weiss Ratings upgraded DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, March 2nd. Citizens Jmp downgraded DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 price target on the stock. in a research note on Monday, December 29th. B. Riley Financial downgraded DigitalBridge Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $20.00 to $16.00 in a research note on Tuesday, December 30th. Keefe, Bruyette & Woods raised their price target on DigitalBridge Group from $13.50 to $16.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 30th. Finally, TD Cowen downgraded DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research note on Tuesday, December 30th. One investment 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 MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.00.

DigitalBridge Group Stock Up 0.7%

The company has a fifty day moving average of $15.41 and a two-hundred day moving average of $13.65. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 34.61 and a beta of 1.61.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. DigitalBridge Group’s dividend payout ratio (DPR) is currently 8.89%.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds have recently modified their holdings of the stock. Purpose Unlimited Inc. acquired a new stake in shares of DigitalBridge Group during the fourth quarter worth $3,220,000. Hsbc Holdings PLC purchased a new stake in shares of DigitalBridge Group in the fourth quarter valued at approximately $18,366,000. Rockefeller Capital Management L.P. boosted its stake in shares of DigitalBridge Group by 23.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 438,598 shares of the company’s stock valued at $6,728,000 after buying an additional 83,786 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of DigitalBridge Group by 52.1% in the fourth quarter. Corient Private Wealth LLC now owns 20,527 shares of the company’s stock valued at $314,000 after buying an additional 7,028 shares in the last quarter. Finally, Sentinel Dome Partners LLC purchased a new stake in shares of DigitalBridge Group in the fourth quarter valued at approximately $2,372,000. 92.69% of the stock is 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.