DigitalBridge Group (NYSE:DBRG) Hits New 52-Week High - Time to Buy?

Key Points

• 52-week high: DigitalBridge (NYSE:DBRG) hit a new 52-week high of $15.65 (last $15.6410) on ~4.47M shares, with a market cap of $2.85B and 50/200-day moving averages of $15.47/$14.10.
• Analysts have a consensus rating of Hold with an average target of $16 (1 Buy, 7 Hold, 1 Sell); recent actions include Raymond James cutting to "underperform" and Truist initiating coverage at "buy" with a $16 target.
• The company declared a quarterly dividend of $0.01 (annualized $0.04, yield 0.3%, DPR 8.16%), and institutional investors own 92.69% of shares with notable position increases by Goldman Sachs and others.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $15.65 and last traded at $15.6410, with a volume of 4468746 shares trading hands. The stock had previously closed at $15.60.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. 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. Truist Financial began coverage on shares of DigitalBridge Group in a research note on Tuesday, March 31st. They issued a "buy" rating and a $16.00 target price for the company. Finally, Weiss Ratings raised shares of DigitalBridge Group from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, DigitalBridge Group presently has a consensus rating of "Hold" and an average target price of $16.00.

DigitalBridge Group Stock Up 0.3%

The company has a market cap of $2.85 billion, a P/E ratio of 31.92 and a beta of 1.49. The stock's 50-day moving average price is $15.47 and its 200 day moving average price is $14.10.

DigitalBridge Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group's dividend payout ratio (DPR) is currently 8.16%.

Hedge Funds Weigh In On DigitalBridge Group

A number of institutional investors and hedge funds have recently bought and sold shares of DBRG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in DigitalBridge Group by 4.6% during the first 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 during the period. Goldman Sachs Group Inc. increased its position in DigitalBridge Group by 45.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company's stock worth $19,633,000 after acquiring an additional 693,613 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 acquiring an additional 21,930 shares during the period. Envestnet Asset Management Inc. increased its position in 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 acquiring an additional 1,309 shares during the period. Finally, Cetera Investment Advisers increased its position in DigitalBridge Group by 39.1% during the second quarter. Cetera Investment Advisers now owns 21,360 shares of the company's stock worth $221,000 after acquiring an additional 6,000 shares during the period. 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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