DigitalBridge Group (NYSE:DBRG) Sees Strong Trading Volume - Here's Why

Key Points

• DigitalBridge Group shares saw higher trading activity on Thursday, with 2.88 million shares changing hands. The stock was essentially flat, last trading at $15.775 versus a prior close of $15.75.
• Analysts remain cautious overall: the stock has a consensus “Hold” rating and an average price target of $16.00. Truist Financial has a Buy rating with a $16 target, while Weiss Ratings recently reiterated a Hold.
• The company recently declared a quarterly dividend of $0.01 per share, payable July 15, which works out to a 0.3% annualized yield. Institutional investors continue to own the vast majority of the stock, at 92.69%.

Shares of DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) saw an uptick in trading volume on Thursday . 2,879,328 shares traded hands during trading, a decline of 19% from the previous session's volume of 3,539,319 shares.The stock last traded at $15.7750 and had previously closed at $15.75.

Analyst Ratings Changes

Several equities analysts have recently commented on DBRG shares. Weiss Ratings restated a "hold (c)" rating on shares of DigitalBridge Group in a research note on Friday, May 29th. Truist Financial initiated coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They set a "buy" rating and a $16.00 target price on the stock. One 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 company's stock. According to MarketBeat, DigitalBridge Group has a consensus rating of "Hold" and a consensus price target of $16.00.

DigitalBridge Group Trading Up 0.1%

The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 32.19 and a beta of 1.46. The firm has a 50-day moving average of $15.70 and a 200-day moving average of $15.43.

DigitalBridge Group Dividend Announcement

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

Hedge Funds Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently modified their holdings of DBRG. CIBRA Capital Ltd purchased a new stake in DigitalBridge Group during the fourth quarter worth $2,006,000. Jefferies Financial Group Inc. acquired a new position in DigitalBridge Group during the third quarter worth about $1,018,000. Azora Capital LP grew its position in shares of DigitalBridge Group by 62.6% in the third quarter. Azora Capital LP now owns 3,703,734 shares of the company's stock valued at $43,334,000 after purchasing an additional 1,425,583 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of DigitalBridge Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company's stock worth $266,177,000 after acquiring an additional 116,360 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its position in DigitalBridge Group by 29.0% during the third quarter. ArrowMark Colorado Holdings LLC now owns 912,121 shares of the company's stock worth $10,672,000 after purchasing an additional 205,000 shares during the last quarter. Institutional investors and hedge funds 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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