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

DigitalBridge Group, Inc. (NYSE:DBRG) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Investors of record on Sunday, June 30th will be paid a dividend of 0.01 per share on Monday, July 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, June 28th.

DigitalBridge Group has a dividend payout ratio of -66.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect DigitalBridge Group to earn $0.34 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 11.8%.

DigitalBridge Group Trading Down 0.2 %

DBRG opened at $13.31 on Thursday. DigitalBridge Group has a 12 month low of $12.12 and a 12 month high of $20.99. The stock has a market capitalization of $2.31 billion, a P/E ratio of 8.59, a P/E/G ratio of 1.47 and a beta of 1.96. The firm’s fifty day simple moving average is $14.15 and its 200 day simple moving average is $16.98.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The business had revenue of $74.39 million during the quarter, compared to analyst estimates of $100.76 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. On average, equities research analysts predict that DigitalBridge Group will post 0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $17.00 price objective (down from $21.00) on shares of DigitalBridge Group in a research report on Tuesday, June 18th. Keefe, Bruyette & Woods decreased their price target on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research report on Tuesday, June 18th. JPMorgan Chase & Co. decreased their price objective on shares of DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Finally, Truist Financial cut their target price on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.96.

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.