DigitalBridge Group (NYSE:DBRG) Sets New 1-Year High – Still a Buy?

DigitalBridge Group, Inc. (NYSE:DBRG) reached a new 52-week high during trading on Thursday . The company traded as high as $15.73 and last traded at $15.7150, with a volume of 474023 shares changing hands. The stock had previously closed at $15.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Truist Financial assumed coverage on DigitalBridge Group in a report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of DigitalBridge Group in a research note on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, DigitalBridge Group currently has a consensus rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Price Performance

The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 32.03 and a beta of 1.48. The business has a 50 day simple moving average of $15.61 and a 200-day simple moving average of $14.89.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. DigitalBridge Group’s dividend payout ratio is currently 8.16%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Aberdeen Group plc acquired a new position in shares of DigitalBridge Group during the third quarter worth about $3,220,000. CIBRA Capital Ltd acquired a new position in shares of DigitalBridge Group during the fourth quarter worth about $2,006,000. Jefferies Financial Group Inc. acquired a new position in shares of DigitalBridge Group during the third quarter worth about $1,018,000. Vanguard Group Inc. boosted its position in shares of DigitalBridge Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company’s stock worth $266,177,000 after buying an additional 116,360 shares during the period. Finally, Azora Capital LP boosted its position in shares of DigitalBridge Group by 62.6% during the third quarter. Azora Capital LP now owns 3,703,734 shares of the company’s stock worth $43,334,000 after buying an additional 1,425,583 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

About DigitalBridge Group

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.