DigitalBridge Group (NYSE:DBRG) Hits New 52-Week High – Should You Buy?

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price hit 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 trading hands. 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 investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Stock Performance

The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 10.37 and a beta of 1.47. The company has a 50-day moving average of $15.82 and a 200-day moving average of $15.63.

DigitalBridge Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid 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 Wednesday, September 30th. DigitalBridge Group’s dividend payout ratio (DPR) is currently 2.60%.

Institutional Investors Weigh In On DigitalBridge Group

Hedge funds have recently made changes to their positions in the business. 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. Handelsbanken Fonder AB increased its position in shares of DigitalBridge Group by 3.0% during the 4th quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock worth $575,000 after purchasing an additional 1,100 shares in the last quarter. Cetera Investment Advisers increased its position in shares of DigitalBridge Group by 4.4% during the 4th quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock worth $444,000 after purchasing an additional 1,214 shares in the last quarter. Cerity Partners LLC lifted its holdings in DigitalBridge Group by 2.5% during the 4th quarter. Cerity Partners LLC now owns 53,055 shares of the company’s stock valued at $814,000 after purchasing an additional 1,274 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in DigitalBridge Group by 12.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock valued at $122,000 after purchasing an additional 1,309 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.