DigitalBridge Group, Inc. (DBRG) to Issue Quarterly Dividend of $0.01 on January 15th

DigitalBridge Group, Inc. (NYSE:DBRG) announced a quarterly dividend on Tuesday, November 5th, Wall Street Journal reports. Stockholders 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 dividend yield of 0.31%. The ex-dividend date of this dividend is Tuesday, December 31st.

DigitalBridge Group has a dividend 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 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

Shares of DBRG stock opened at $12.76 on Thursday. The business has a fifty day moving average of $14.33 and a 200 day moving average of $13.88. DigitalBridge Group has a 1 year low of $11.07 and a 1 year high of $20.99. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 2.21 and a beta of 1.94.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm 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 3.58% and a net margin of 21.42%. As a group, equities research analysts expect that DigitalBridge Group will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on DBRG. Raymond James decreased their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. upped their price target 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. Keefe, Bruyette & Woods lowered DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $17.75 to $14.00 in a research note on Wednesday. Truist Financial decreased their price objective on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $18.13.

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.