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

Key Points

• DigitalBridge Group hit a new 52-week high, trading as high as $15.82, as investors pushed the stock near its recent close of $15.80.
• Analyst sentiment remains mixed but largely cautious: the stock has an average Hold rating, with an average price target of $16.00. Truist Financial is one of the few firms with a Buy rating and a $16 target.
• The company recently paid a quarterly dividend of $0.01 per share, while institutional ownership remains very high at 92.69%, indicating strong interest from hedge funds and other large investors.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $15.82 and last traded at $15.8060, with a volume of 1180780 shares. The stock had previously closed at $15.80.

Analyst Ratings Changes

Several research analysts have issued reports on DBRG shares. Truist Financial began coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They set a "buy" rating and a $16.00 price objective on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of DigitalBridge Group in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $16.00.

DigitalBridge Group Stock Up 0.0%

The stock has a market capitalization of $2.88 billion, a PE ratio of 32.26 and a beta of 1.46. The firm's fifty day moving average is $15.72 and its 200-day moving average is $15.54.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.01 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group's payout ratio is 8.16%.

Institutional Investors Weigh In On DigitalBridge Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC lifted its stake 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 valued at $27,000 after purchasing an additional 1,326 shares during the period. Parallel Advisors LLC raised its holdings in DigitalBridge Group by 70.4% during 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 purchased a new stake in DigitalBridge Group during the fourth quarter worth $31,000. Beaird Harris Wealth Management LLC purchased a new position in shares of DigitalBridge Group in the fourth quarter valued at $31,000. Finally, Quarry LP raised its stake in shares of DigitalBridge Group by 1,467.2% during the 4th quarter. Quarry LP now owns 2,053 shares of the company's stock worth $31,000 after buying an additional 1,922 shares during the last quarter. Institutional investors and hedge funds 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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