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

DigitalBridge Group, Inc. (NYSE:DBRG) declared a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders 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 payout ratio of -66.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

DBRG traded up $0.03 during trading on Wednesday, hitting $13.36. The stock had a trading volume of 1,072,988 shares, compared to its average volume of 2,254,181. The company’s 50-day moving average price is $14.24 and its 200 day moving average price is $17.00. DigitalBridge Group has a twelve month low of $12.12 and a twelve month high of $20.99. The firm has a market capitalization of $2.32 billion, a P/E ratio of 8.61, a PEG ratio of 1.47 and a beta of 1.96.

DigitalBridge Group (NYSE:DBRG) last posted its earnings results 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 for the quarter, compared to analyst estimates of $100.76 million. DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. As a group, equities analysts expect that DigitalBridge Group will post 0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on DBRG. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $17.00 target price (down from $21.00) on shares of DigitalBridge Group in a research note on Tuesday, June 18th. Truist Financial dropped their target price on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. JPMorgan Chase & Co. decreased their target price on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods decreased their price objective on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company 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.