DigitalBridge Group (NYSE:DBRG) Sets New 12-Month High – Still a Buy?

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $15.72 and last traded at $15.7050, with a volume of 223666 shares. The stock had previously closed at $15.69.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DBRG. Truist Financial began coverage on DigitalBridge Group in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price objective for the company. Weiss Ratings upgraded DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Stock Up 0.0%

The firm has a 50-day moving average of $15.55 and a two-hundred day moving average of $14.48. The company has a market capitalization of $2.86 billion, a PE ratio of 32.03 and a beta of 1.49.

DigitalBridge Group Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Gateway Wealth Partners LLC purchased a new stake in shares of DigitalBridge Group in the third quarter valued at approximately $5,483,000. Aberdeen Group plc purchased a new stake in shares of DigitalBridge Group in the third quarter valued at approximately $3,220,000. New York State Common Retirement Fund increased its position in shares of DigitalBridge Group by 13.3% in the third quarter. New York State Common Retirement Fund now owns 649,033 shares of the company’s stock valued at $7,594,000 after buying an additional 76,251 shares in the last quarter. CIBRA Capital Ltd purchased a new stake in shares of DigitalBridge Group in the fourth quarter valued at approximately $2,006,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of DigitalBridge Group in the third quarter valued at approximately $1,018,000. 92.69% of the stock is currently owned by hedge funds and other 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.