DigitalBridge Group (NYSE:DBRG) Reaches New 1-Year High – What’s Next?

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) reached a new 52-week high on Monday . The stock traded as high as $15.97 and last traded at $15.9650, with a volume of 3047849 shares traded. The stock had previously closed at $15.93.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised DigitalBridge Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Trading Down 0.1%

The firm’s 50-day moving average price is $15.83 and its 200 day moving average price is $15.64. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 10.37 and a beta of 1.47.

DigitalBridge Group Announces Dividend

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

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC boosted its position in shares of DigitalBridge Group by 305.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock worth $27,000 after purchasing an additional 1,326 shares in the last quarter. Parallel Advisors LLC raised its stake in DigitalBridge Group by 70.4% during the 1st quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock worth $29,000 after buying an additional 781 shares during the period. Atlantic Union Bankshares Corp bought a new position in DigitalBridge Group in the fourth quarter worth approximately $31,000. Beaird Harris Wealth Management LLC acquired a new stake in DigitalBridge Group in the fourth quarter valued at approximately $31,000. Finally, Quarry LP grew its stake in DigitalBridge Group by 1,467.2% in the fourth quarter. Quarry LP now owns 2,053 shares of the company’s stock valued at $31,000 after acquiring an additional 1,922 shares during the period. 92.69% of the stock is 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.