DigitalBridge Group (NYSE:DBRG) Hits New 1-Year High - Here's What Happened

Key Points

• DigitalBridge Group's shares hit a new 52-week high of $15.60 Wednesday, trading last at $15.585 with about 531,527 shares changing hands (50‑day SMA $15.42, 200‑day SMA $13.77).
• Analysts are mostly cautious: the consensus rating is Hold with an average target of $16.00 after multiple downgrades, leaving one Buy, seven Holds and one Sell.
• The company announced a quarterly dividend of $0.01 (annualized $0.04, yield 0.3%; ex‑dividend/record dates in late March), and has a $2.85B market cap with roughly 92.7% institutional ownership following several recent new stakes and position increases.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $15.60 and last traded at $15.5850, with a volume of 531527 shares changing hands. The stock had previously closed at $15.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DBRG shares. Royal Bank Of Canada cut shares of DigitalBridge Group from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $23.00 to $16.00 in a report on Tuesday, December 30th. Raymond James Financial cut shares of DigitalBridge Group from a "strong-buy" rating to an "underperform" rating in a research note on Tuesday, January 27th. TD Cowen cut shares of DigitalBridge Group from a "buy" rating to a "hold" rating and set a $16.00 price objective on the stock. in a research note on Tuesday, December 30th. Truist Financial assumed coverage on shares of DigitalBridge Group in a research note on Tuesday, March 31st. They issued a "buy" rating and a $16.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of DigitalBridge Group from $13.50 to $16.00 and gave the company a "market perform" rating in a research note on Tuesday, December 30th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $16.00.

DigitalBridge Group Trading Up 0.0%

The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 34.63 and a beta of 1.61. The firm's 50 day simple moving average is $15.42 and its 200-day simple moving average is $13.77.

DigitalBridge Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given 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 is Tuesday, March 31st. DigitalBridge Group's payout ratio is presently 8.89%.

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors have recently made changes to their positions in the stock. Purpose Unlimited Inc. purchased a new stake in shares of DigitalBridge Group during the 4th quarter worth $3,220,000. Hsbc Holdings PLC purchased a new stake in shares of DigitalBridge Group during the 4th quarter worth $18,366,000. Rockefeller Capital Management L.P. boosted its position in shares of DigitalBridge Group by 23.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 438,598 shares of the company's stock worth $6,728,000 after purchasing an additional 83,786 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of DigitalBridge Group by 52.1% during the 4th quarter. Corient Private Wealth LLC now owns 20,527 shares of the company's stock worth $314,000 after purchasing an additional 7,028 shares in the last quarter. Finally, Sentinel Dome Partners LLC purchased a new stake in shares of DigitalBridge Group during the 4th quarter worth $2,372,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.

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