DigitalBridge Group, Inc. Announces Quarterly Dividend of $0.01 (NYSE:DBRG)

DigitalBridge Group, Inc. (NYSE:DBRG) declared a quarterly dividend on Tuesday, November 5th, Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.01 per share on Wednesday, January 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Tuesday, December 31st.

DigitalBridge Group has a dividend payout ratio of -30.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect DigitalBridge Group to earn $0.16 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 25.0%.

DigitalBridge Group Price Performance

DBRG stock remained flat at $12.57 during trading on Tuesday. The company had a trading volume of 2,255,218 shares, compared to its average volume of 2,325,208. DigitalBridge Group has a 52 week low of $11.07 and a 52 week high of $20.99. The stock has a 50-day moving average of $14.32 and a 200-day moving average of $13.92. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 2.36 and a beta of 1.94.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). DigitalBridge Group had a return on equity of 3.59% and a net margin of 21.42%. The business had revenue of $390.34 million during the quarter, compared to analysts’ expectations of $97.05 million. As a group, equities analysts predict that DigitalBridge Group will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DBRG shares. Truist Financial dropped their target price on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Wells Fargo & Company decreased their target price on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft dropped their price target on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. B. Riley lowered their price objective on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $18.59.

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.