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

Key Points

• DigitalBridge shares reached a new 52-week high, trading as high as $15.95 and most recently at $15.92, near the $16.00 analyst consensus price target.
• Analyst sentiment remains mixed: Weiss Ratings upgraded the stock to “buy,” but the broader consensus is still “Hold,” based on two Buy, six Hold, and one Sell rating.
• The company declared a quarterly dividend of $0.01 per share, equal to a $0.04 annualized payout and a 0.3% yield. Institutional investors own a substantial 92.69% of outstanding shares.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $15.95 and last traded at $15.92, with a volume of 2903219 shares changing hands. The stock had previously closed at $15.94.

Wall Street Analyst Weigh In

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

DigitalBridge Group Stock Performance

The stock has a market capitalization of $2.90 billion, a PE ratio of 10.34 and a beta of 1.47. The business's 50-day moving average price is $15.78 and its 200 day moving average price is $15.60.

DigitalBridge Group Dividend Announcement

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 given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date is Wednesday, September 30th. DigitalBridge Group's payout ratio is presently 2.60%.

Institutional Trading of DigitalBridge Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its position in shares of DigitalBridge Group by 305.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company's stock valued at $27,000 after acquiring an additional 1,326 shares during the last quarter. Parallel Advisors LLC increased its position in shares of DigitalBridge Group by 70.4% in the first quarter. Parallel Advisors LLC now owns 1,891 shares of the company's stock worth $29,000 after purchasing an additional 781 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of DigitalBridge Group in the fourth quarter worth approximately $31,000. Beaird Harris Wealth Management LLC purchased a new stake in DigitalBridge Group in the fourth quarter valued at approximately $31,000. Finally, Quarry LP raised its stake in DigitalBridge Group by 1,467.2% in the fourth quarter. Quarry LP now owns 2,053 shares of the company's stock valued at $31,000 after purchasing an additional 1,922 shares in the last quarter. 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.

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