DigitalBridge Group (NYSE:DBRG) Reaches New 12-Month High - Time to Buy?

Key Points

• Shares of DigitalBridge Group (NYSE: DBRG) reached a new 52-week high intraday at $15.58 and were last trading around $15.57 on volume of about 2,563,772 shares, with the 50‑day and 200‑day moving averages at $15.41 and $13.65 respectively.
• Analyst sentiment is mixed but tilts neutral: the consensus rating is Hold with an average price target of $16.00 (1 Buy, 7 Hold, 1 Sell) after several recent downgrades and coverage changes.
• The company announced a quarterly dividend of $0.01 (annualized $0.04, yield 0.3%), and institutional investors own 92.69% of the stock with multiple funds initiating or adding to positions in Q4.

Shares of 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 $15.58 and last traded at $15.5730, with a volume of 2563772 shares changing hands. The stock had previously closed at $15.47.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DBRG shares. Raymond James Financial lowered DigitalBridge Group from a "strong-buy" rating to an "underperform" rating in a research report on Tuesday, January 27th. Truist Financial started coverage on DigitalBridge Group in a research report on Tuesday, March 31st. They issued a "buy" rating and a $16.00 price target on the stock. TD Cowen lowered DigitalBridge Group from a "buy" rating to a "hold" rating and set a $16.00 price target on the stock. in a research report on Tuesday, December 30th. B. Riley Financial lowered DigitalBridge Group from a "buy" rating to a "hold" rating and reduced their price target for the company from $20.00 to $16.00 in a research report on Tuesday, December 30th. Finally, Keefe, Bruyette & Woods increased their price target on DigitalBridge Group from $13.50 to $16.00 and gave the company 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 issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, DigitalBridge Group currently has an average rating of "Hold" and an average target price of $16.00.

DigitalBridge Group Trading Up 0.7%

The firm has a market cap of $2.85 billion, a PE ratio of 34.61 and a beta of 1.61. The business has a fifty day moving average price of $15.41 and a 200 day moving average price of $13.65.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.01 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group's dividend payout ratio is presently 8.89%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Purpose Unlimited Inc. purchased a new position in DigitalBridge Group during the 4th quarter worth approximately $3,220,000. Hsbc Holdings PLC purchased a new position in DigitalBridge Group during the 4th quarter worth approximately $18,366,000. Rockefeller Capital Management L.P. grew its stake in 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 buying an additional 83,786 shares during the last quarter. Corient Private Wealth LLC grew its stake in 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 buying an additional 7,028 shares during the last quarter. Finally, Sentinel Dome Partners LLC purchased a new position in DigitalBridge Group during the 4th quarter worth approximately $2,372,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

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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