DigitalBridge Group (NYSE:DBRG) Reaches New 12-Month High – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price hit a new 52-week high on Wednesday . The company traded as high as $15.77 and last traded at $15.6960, with a volume of 2087146 shares. The stock had previously closed at $15.72.

Wall Street Analyst Weigh In

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

DigitalBridge Group Stock Down 0.2%

The stock’s 50-day moving average price is $15.63 and its 200 day moving average price is $15.07. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 32.03 and a beta of 1.48.

DigitalBridge Group Announces Dividend

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

Institutional Trading of DigitalBridge Group

Institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 valued at $834,000 after purchasing an additional 4,122 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of DigitalBridge Group by 45.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company’s stock worth $19,633,000 after buying an additional 693,613 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of DigitalBridge Group by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 392,094 shares of the company’s stock worth $3,458,000 after buying an additional 21,930 shares during the period. Envestnet Asset Management Inc. boosted its stake in DigitalBridge Group by 12.5% in the 2nd 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 in the last quarter. Finally, Cetera Investment Advisers boosted its stake in DigitalBridge Group by 39.1% in the 2nd 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 in the last quarter. 92.69% of the stock is currently 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.