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

DigitalBridge Group, Inc. (NYSE:DBRG) announced 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 0.31%. 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. 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 DigitalBridge Group stock opened at $12.75 on Wednesday. The stock has a market capitalization of $2.22 billion, a P/E ratio of 17.26, a PEG ratio of 2.36 and a beta of 1.94. The business has a 50 day simple moving average of $14.32 and a two-hundred day simple moving average of $13.92. DigitalBridge Group has a 12 month low of $11.07 and a 12 month high of $20.99.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 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 analyst estimates of $97.05 million. DigitalBridge Group had a net margin of 21.42% and a return on equity of 3.59%. As a group, research analysts anticipate that DigitalBridge Group will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial dropped their target price on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. B. Riley decreased their target price on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Raymond James dropped their price target on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $17.75 to $14.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $18.13.

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.