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

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price reached a new 52-week high on Monday . The stock traded as high as $15.82 and last traded at $15.8060, with a volume of 1180780 shares trading hands. The stock had previously closed at $15.80.

Analyst Upgrades and Downgrades

DBRG has been the subject of a number of recent research reports. Truist Financial started coverage on shares of DigitalBridge Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $16.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of DigitalBridge Group in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.00.

DigitalBridge Group Stock Up 0.0%

The company has a market cap of $2.88 billion, a PE ratio of 32.26 and a beta of 1.46. The stock’s 50 day simple moving average is $15.72 and its two-hundred day simple moving average is $15.54.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, June 30th. DigitalBridge Group’s dividend payout ratio is 8.16%.

Hedge Funds Weigh In On DigitalBridge Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in DigitalBridge Group by 4.6% during 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 in the last quarter. Goldman Sachs Group Inc. raised its stake 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 valued at $19,633,000 after purchasing an additional 693,613 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of DigitalBridge Group by 5.9% during the first 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 purchasing an additional 21,930 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of DigitalBridge Group by 12.5% during the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after purchasing an additional 1,309 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in DigitalBridge Group by 39.1% in the second quarter. Cetera Investment Advisers now owns 21,360 shares of the company’s stock worth $221,000 after purchasing an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.