DigitalBridge Group (NYSE:DBRG) Hits New 52-Week High – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $15.60 and last traded at $15.5850, with a volume of 3381088 shares changing hands. The stock had previously closed at $15.59.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DBRG shares. Weiss Ratings upgraded DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, March 2nd. B. Riley Financial cut DigitalBridge Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $20.00 to $16.00 in a research note on Tuesday, December 30th. Citizens Jmp cut DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Monday, December 29th. Keefe, Bruyette & Woods increased their target price on DigitalBridge Group from $13.50 to $16.00 and gave the company a “market perform” rating in a research note on Tuesday, December 30th. Finally, Royal Bank Of Canada cut DigitalBridge Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $23.00 to $16.00 in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Stock Down 0.0%

The company has a 50 day moving average of $15.44 and a 200-day moving average of $13.92. The stock has a market capitalization of $2.86 billion, a P/E ratio of 34.68 and a beta of 1.61.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.04 annualized dividend and a yield of 0.3%. DigitalBridge Group’s dividend payout ratio (DPR) is 8.89%.

Hedge Funds Weigh In On DigitalBridge Group

Several large investors have recently added to or reduced their stakes in DBRG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in DigitalBridge Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,556 shares of the company’s stock worth $834,000 after purchasing an additional 4,122 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in DigitalBridge Group by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company’s stock valued at $19,633,000 after buying an additional 693,613 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in DigitalBridge Group by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 392,094 shares of the company’s stock valued at $3,458,000 after buying an additional 21,930 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in DigitalBridge Group by 12.5% in the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock valued at $122,000 after buying an additional 1,309 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in DigitalBridge Group by 39.1% in the second quarter. Cetera Investment Advisers now owns 21,360 shares of the company’s stock valued at $221,000 after buying an additional 6,000 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

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.