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

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price reached a new 52-week high during trading on Tuesday. The company traded as high as $16.00 and last traded at $15.9950, with a volume of 92639 shares. The stock had previously closed at $15.98.

Analysts Set New Price Targets

DBRG has been the subject of a number of research analyst reports. Weiss Ratings cut DigitalBridge Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 31st. Wall Street Zen raised shares of DigitalBridge Group to a “hold” rating in a research note on Saturday, September 5th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Stock Up 0.1%

The stock has a market cap of $3.00 billion, a P/E ratio of 10.39 and a beta of 1.47. The stock has a fifty day simple moving average of $15.91 and a 200-day simple moving average of $15.72.

DigitalBridge Group Announces Dividend

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

Hedge Funds Weigh In On DigitalBridge Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Kryger Capital LLC acquired a new position in shares of DigitalBridge Group in the 1st quarter valued at $102,736,000. Hsbc Holdings PLC raised its stake in DigitalBridge Group by 159.3% during the 1st quarter. Hsbc Holdings PLC now owns 3,110,592 shares of the company’s stock worth $47,919,000 after buying an additional 1,910,984 shares during the period. Bank of America Corp DE lifted its holdings in DigitalBridge Group by 29.4% during the first quarter. Bank of America Corp DE now owns 2,574,508 shares of the company’s stock worth $39,699,000 after acquiring an additional 584,205 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of DigitalBridge Group in the fourth quarter worth about $33,808,000. Finally, Blue Grotto Capital LLC bought a new stake in shares of DigitalBridge Group in the fourth quarter worth about $30,680,000. 92.69% of the stock is owned by institutional investors.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is an investment management firm focused on digital infrastructure. Through its investment management platform, the company invests in and manages assets that support the digital economy, including data centers, wireless infrastructure, fiber networks, small-cell systems and edge infrastructure.

DigitalBridge serves infrastructure owners, technology companies, communications providers and other institutional investors by providing investment management and asset management services.