DigitalBridge Group (NYSE:DBRG) Stock Price Up 8.7% - Still a Buy?

Key Points

• DigitalBridge Group's shares surged 8.7% during trading on Thursday, reaching a high of $12.14, compared to the previous close of $11.17.
• Analysts have upgraded the stock, with a consensus rating of "Buy" and a price target of $16.14, showcasing increasing confidence in the company's performance.
• The firm recently announced a quarterly dividend of $0.01, resulting in a dividend yield of 0.3%, amidst a dividend payout ratio of -100.00%.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report)'s share price traded up 8.7% during trading on Thursday . The stock traded as high as $12.14 and last traded at $12.14. 2,373,654 shares were traded during trading, a decline of 8% from the average session volume of 2,573,656 shares. The stock had previously closed at $11.17.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DBRG. Truist Financial raised their price objective on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Keefe, Bruyette & Woods raised their price objective on shares of DigitalBridge Group from $10.50 to $11.00 and gave the company a "market perform" rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen raised shares of DigitalBridge Group from a "sell" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $16.14.

DigitalBridge Group Price Performance

The firm's 50 day moving average price is $11.08 and its 200-day moving average price is $10.09. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -295.50 and a beta of 1.63.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, September 30th. DigitalBridge Group's dividend payout ratio (DPR) is -100.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DBRG. Ameriprise Financial Inc. lifted its holdings in shares of DigitalBridge Group by 17.7% during the fourth quarter. Ameriprise Financial Inc. now owns 662,109 shares of the company's stock valued at $7,469,000 after acquiring an additional 99,520 shares during the period. BNP Paribas Financial Markets bought a new position in shares of DigitalBridge Group during the fourth quarter valued at $787,000. Deutsche Bank AG lifted its holdings in shares of DigitalBridge Group by 48.4% during the fourth quarter. Deutsche Bank AG now owns 136,794 shares of the company's stock valued at $1,543,000 after acquiring an additional 44,623 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of DigitalBridge Group by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,434 shares of the company's stock valued at $1,020,000 after acquiring an additional 3,429 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of DigitalBridge Group by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 44,773 shares of the company's stock valued at $505,000 after acquiring an additional 14,733 shares during the period. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Company Profile

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.