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

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

DigitalBridge Group has a payout ratio of -30.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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

Shares of DigitalBridge Group stock remained flat at $12.57 during mid-day trading on Tuesday. 2,255,218 shares of the company’s stock traded hands, compared to its average volume of 2,325,208. DigitalBridge Group has a 1 year low of $11.07 and a 1 year high of $20.99. The firm’s 50 day moving average is $14.32 and its 200-day moving average is $13.92. The stock has a market capitalization of $2.19 billion, a P/E ratio of 16.97, a P/E/G ratio of 2.36 and a beta of 1.94.

DigitalBridge Group (NYSE:DBRG) last posted 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). The business had revenue of $390.34 million during the quarter, compared to analysts’ expectations of $97.05 million. DigitalBridge Group had a return on equity of 3.59% and a net margin of 21.42%. On average, research analysts predict that DigitalBridge Group will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DBRG shares. Wells Fargo & Company reduced their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday. JPMorgan Chase & Co. increased their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft lowered their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Raymond James decreased their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday. Finally, B. Riley cut their target price on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.59.

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.