DigitalBridge Group (NYSE:DBRG) Sees Unusually-High Trading Volume – Time to Buy?

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) saw an uptick in trading volume on Monday . 2,906,881 shares changed hands during mid-day trading, an increase of 69% from the previous session’s volume of 1,718,233 shares.The stock last traded at $10.45 and had previously closed at $10.61.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Truist Financial dropped their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their target price on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. B. Riley decreased their price target on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lowered DigitalBridge Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $17.75 to $14.00 in a research report on Wednesday, November 6th. Finally, Raymond James cut their target price on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, DigitalBridge Group currently has an average rating of “Buy” and an average target price of $17.38.

DigitalBridge Group Stock Performance

The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 13.76 and a beta of 1.91. The company has a 50 day moving average price of $11.95 and a 200 day moving average price of $13.16.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s payout ratio is currently 5.48%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DBRG. Meeder Asset Management Inc. acquired a new position in shares of DigitalBridge Group during the third quarter valued at about $34,000. Central Pacific Bank Trust Division acquired a new position in DigitalBridge Group during the 3rd quarter valued at about $35,000. Blue Trust Inc. increased its holdings in DigitalBridge Group by 179.2% during the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after purchasing an additional 2,408 shares in the last quarter. nVerses Capital LLC raised its stake in shares of DigitalBridge Group by 145.5% in the third quarter. nVerses Capital LLC now owns 5,400 shares of the company’s stock worth $76,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of DigitalBridge Group by 321.0% in the third quarter. Quest Partners LLC now owns 9,309 shares of the company’s stock valued at $132,000 after purchasing an additional 7,098 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Company Profile

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.