DigitalBridge Group (NYSE:DBRG) Hits New 1-Year High - Time to Buy?

Key Points

• Shares of DigitalBridge (NYSE:DBRG) hit a new 52-week high of $15.60 on Tuesday with about 3.38 million shares traded, trading near its 50‑day SMA ($15.44) and above its 200‑day SMA ($13.88).
• Analysts hold a consensus Hold rating with a $16.00 price target; broker opinions are mixed (1 Buy, 7 Holds, 1 Sell) and several firms recently adjusted ratings and targets.
• The company has a market cap of $2.85 billion and a P/E of 34.63, and it pays a nominal quarterly dividend of $0.01 (annualized $0.04, yield 0.3%, payout ratio 8.89%).

Shares of DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $15.60 and last traded at $15.5850, with a volume of 3381088 shares changing hands. The stock had previously closed at $15.59.

Analyst Upgrades and Downgrades

DBRG has been the subject of a number of research reports. Weiss Ratings raised shares of DigitalBridge Group from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, March 2nd. Citizens Jmp cut shares of DigitalBridge Group from a "market outperform" rating to a "hold" rating and set a $16.00 target price for the company. in a report on Monday, December 29th. Raymond James Financial cut shares of DigitalBridge Group from a "strong-buy" rating to an "underperform" rating in a report on Tuesday, January 27th. B. Riley Financial cut shares of DigitalBridge Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $20.00 to $16.00 in a report on Tuesday, December 30th. Finally, Keefe, Bruyette & Woods upped their price target on shares of DigitalBridge Group from $13.50 to $16.00 and gave the stock a "market perform" rating in a research report 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $16.00.

DigitalBridge Group Price Performance

The firm has a market capitalization of $2.85 billion, a P/E ratio of 34.63 and a beta of 1.61. The stock's 50-day simple moving average is $15.44 and its two-hundred day simple moving average is $13.88.

DigitalBridge Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, March 31st. DigitalBridge Group's dividend payout ratio is presently 8.89%.

Hedge Funds Weigh In On DigitalBridge Group

Hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its position in shares of DigitalBridge Group by 305.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company's stock worth $27,000 after purchasing an additional 1,326 shares during the period. Beaird Harris Wealth Management LLC bought a new position in shares of DigitalBridge Group in the fourth quarter worth approximately $31,000. Atlantic Union Bankshares Corp bought a new position in shares of DigitalBridge Group in the fourth quarter worth approximately $31,000. Quarry LP boosted its position in shares of DigitalBridge Group by 1,467.2% during the fourth quarter. Quarry LP now owns 2,053 shares of the company's stock worth $31,000 after acquiring an additional 1,922 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of DigitalBridge Group during the fourth quarter worth $43,000. 92.69% of the stock is currently owned by institutional investors.

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.

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