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

DigitalBridge Group, Inc. (NYSE:DBRG) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.01 per share on Tuesday, April 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Monday, March 31st.

DigitalBridge Group has a dividend payout ratio of 400.0% 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 $0.32 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 12.5%.

DigitalBridge Group Stock Down 0.5 %

Shares of NYSE DBRG opened at $12.18 on Friday. The stock’s fifty day simple moving average is $10.99 and its 200 day simple moving average is $12.62. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 405.83, a PEG ratio of 3.46 and a beta of 1.91. DigitalBridge Group has a 52-week low of $10.03 and a 52-week high of $19.49.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $101.55 million for the quarter, compared to the consensus estimate of $93.01 million. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. As a group, analysts anticipate that DigitalBridge Group will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DBRG. Citizens Jmp upgraded shares of DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods cut DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $17.75 to $14.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lowered their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Truist Financial decreased their target price on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company dropped their price target on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, DigitalBridge Group has an average rating of “Buy” and an average target price of $16.67.

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.