DigitalBridge Group (NYSE:DBRG) Stock Price Up 4.7% – Should You Buy?

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) rose 4.7% on Monday . The company traded as high as $11.22 and last traded at $11.22. Approximately 953,693 shares were traded during trading, a decline of 59% from the average daily volume of 2,344,967 shares. The stock had previously closed at $10.72.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DBRG shares. Truist Financial cut their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price target on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. Wells Fargo & Company reduced their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Raymond James lowered their target price on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $17.88.

DigitalBridge Group Trading Up 4.5 %

The company’s 50 day simple moving average is $13.01 and its 200-day simple moving average is $13.32. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 13.76 and a beta of 1.89.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.01 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 annualized dividend and a yield of 0.36%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

Institutional Trading of DigitalBridge Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DBRG. Massachusetts Financial Services Co. MA acquired a new stake in DigitalBridge Group during the second quarter worth about $39,033,000. Potrero Capital Research LLC acquired a new stake in DigitalBridge Group during the 3rd quarter worth approximately $20,201,000. New South Capital Management Inc. raised its holdings in DigitalBridge Group by 40.1% in the second quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock valued at $53,838,000 after buying an additional 1,125,549 shares during the period. Wafra Inc. lifted its position in DigitalBridge Group by 7.1% during the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after buying an additional 1,020,409 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in DigitalBridge Group by 54.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock worth $36,797,000 after buying an additional 952,408 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About DigitalBridge Group

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.