DigitalBridge Group (NYSE:DBRG) Sees Large Volume Increase – Should You Buy?

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) saw strong trading volume on Tuesday . 3,139,273 shares traded hands during trading, a decline of 10% from the previous session’s volume of 3,477,439 shares.The stock last traded at $15.9750 and had previously closed at $15.98.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded DigitalBridge Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Price Performance

The stock’s 50 day moving average price is $15.84 and its 200-day moving average price is $15.64. The stock has a market capitalization of $2.99 billion, a PE ratio of 10.37 and a beta of 1.47.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, September 30th. DigitalBridge Group’s dividend payout ratio (DPR) is 2.60%.

Institutional Trading of DigitalBridge Group

Hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its position in DigitalBridge Group by 1,434.0% during the second quarter. California State Teachers Retirement System now owns 3,267,407 shares of the company’s stock valued at $51,560,000 after purchasing an additional 3,054,401 shares during the last quarter. OceanIQ Capital LLC bought a new stake in shares of DigitalBridge Group in the 2nd quarter valued at approximately $461,000. Nykredit A S purchased a new position in shares of DigitalBridge Group in the 2nd quarter worth approximately $49,000. NINE MASTS CAPITAL Ltd increased its position in shares of DigitalBridge Group by 88.1% during the 2nd quarter. NINE MASTS CAPITAL Ltd now owns 147,100 shares of the company’s stock valued at $2,321,000 after purchasing an additional 68,909 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in DigitalBridge Group during the 2nd quarter valued at $57,000. Hedge funds and other 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.