DigitalBridge Group (NYSE:DBRG) Hits New 52-Week High - Still a Buy?

Key Points

• DigitalBridge Group shares reached a new 52-week high of $16.00, trading near that level with a market capitalization of approximately $3.0 billion.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from nine analysts, with an average price target of $16.00—roughly in line with its current price.
• The company declared a quarterly dividend of $0.01 per share, equivalent to a 0.3% annual yield; institutional investors own 92.69% of the stock.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday. The stock traded as high as $16.00 and last traded at $15.9950, with a volume of 92639 shares changing hands. The stock had previously closed at $15.98.

Analysts Set New Price Targets

DBRG has been the topic of several recent research reports. Wall Street Zen raised DigitalBridge Group to a "hold" rating in a report on Saturday, September 5th. Weiss Ratings lowered DigitalBridge Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, August 31st. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $16.00.

DigitalBridge Group Trading Up 0.1%

The company has a 50 day moving average of $15.91 and a 200 day moving average of $15.72. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 10.39 and a beta of 1.47.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, September 30th. DigitalBridge Group's payout ratio is currently 2.60%.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds have recently made changes to their positions in DBRG. Kryger Capital LLC bought a new stake in DigitalBridge Group during the first quarter worth about $102,736,000. Hsbc Holdings PLC raised its stake in shares of DigitalBridge Group by 159.3% in the first quarter. Hsbc Holdings PLC now owns 3,110,592 shares of the company's stock valued at $47,919,000 after acquiring an additional 1,910,984 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of DigitalBridge Group by 29.4% in the 1st quarter. Bank of America Corp DE now owns 2,574,508 shares of the company's stock worth $39,699,000 after acquiring an additional 584,205 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of DigitalBridge Group in the 4th quarter worth approximately $33,808,000. Finally, Blue Grotto Capital LLC bought a new stake in DigitalBridge Group during the 4th quarter worth approximately $30,680,000. Institutional investors and hedge funds own 92.69% of the company's stock.

DigitalBridge Group Company Profile

DigitalBridge Group, Inc NYSE: DBRG is an investment management firm focused on digital infrastructure. Through its investment management platform, the company invests in and manages assets that support the digital economy, including data centers, wireless infrastructure, fiber networks, small-cell systems and edge infrastructure.

DigitalBridge serves infrastructure owners, technology companies, communications providers and other institutional investors by providing investment management and asset management services.

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