DigitalBridge Group (NYSE:DBRG) Reaches New 52-Week High – Here’s Why

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $15.79 and last traded at $15.7550, with a volume of 5063279 shares changing hands. The stock had previously closed at $15.77.

Analysts Set New Price Targets

Several research analysts have weighed in on DBRG shares. Truist Financial assumed coverage on DigitalBridge Group in a report on Tuesday, March 31st. They set a “buy” rating and a $16.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalBridge Group in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Trading Down 0.0%

The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 32.15 and a beta of 1.48. The stock’s 50 day moving average is $15.66 and its 200 day moving average is $15.33.

DigitalBridge Group Announces Dividend

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

Institutional Investors Weigh In On DigitalBridge Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Carmignac Gestion acquired a new position in DigitalBridge Group in the 1st quarter valued at $5,696,000. Parallel Advisors LLC boosted its stake in shares of DigitalBridge Group by 70.4% in the 1st quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock valued at $29,000 after purchasing an additional 781 shares in the last quarter. Optiver Holding B.V. boosted its position in DigitalBridge Group by 503.7% in the first quarter. Optiver Holding B.V. now owns 11,711 shares of the company’s stock valued at $181,000 after buying an additional 9,771 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of DigitalBridge Group by 29.4% during the 1st quarter. Bank of America Corp DE now owns 2,574,508 shares of the company’s stock valued at $39,699,000 after acquiring an additional 584,205 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of DigitalBridge Group by 992.3% during the first quarter. Janus Henderson Group PLC now owns 812,377 shares of the company’s stock worth $12,539,000 after purchasing an additional 738,005 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.