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

DigitalBridge Group, Inc. (NYSE:DBRG) declared a quarterly dividend on Tuesday, August 6th, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.01 per share on Tuesday, October 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Monday, September 30th.

DigitalBridge Group has a payout ratio of -50.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Up 1.5 %

Shares of NYSE DBRG traded up $0.21 during trading on Friday, hitting $14.39. The company had a trading volume of 1,976,451 shares, compared to its average volume of 2,206,613. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 9.28, a price-to-earnings-growth ratio of 2.59 and a beta of 1.96. The stock has a fifty day simple moving average of $13.12 and a two-hundred day simple moving average of $14.57. DigitalBridge Group has a fifty-two week low of $11.07 and a fifty-two week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last posted 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). DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. The firm had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. On average, analysts anticipate that DigitalBridge Group will post 0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial dropped their price target on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Keefe, Bruyette & Woods decreased their price target on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. B. Riley dropped their price objective on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 price objective on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $19.22.

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.