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

DigitalBridge Group, Inc. (NYSE:DBRG) declared a quarterly dividend on Friday, October 25th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.01 per share on Wednesday, January 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Tuesday, December 31st.

DigitalBridge Group has a dividend payout ratio of -11.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect DigitalBridge Group to earn $0.17 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 23.5%.

DigitalBridge Group Stock Down 1.2 %

NYSE:DBRG opened at $10.72 on Friday. DigitalBridge Group has a fifty-two week low of $10.59 and a fifty-two week high of $20.99. The company has a market cap of $1.87 billion, a P/E ratio of 14.68, a P/E/G ratio of 13.76 and a beta of 1.89. The firm’s 50 day moving average is $13.01 and its two-hundred day moving average is $13.32.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DBRG. Keefe, Bruyette & Woods cut DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. Wells Fargo & Company decreased their price target on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Raymond James reduced their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Truist Financial lowered their target price on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $17.88.

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.