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

DigitalBridge Group, Inc. (NYSE:DBRG) declared a quarterly dividend on Tuesday, August 6th, Zacks reports. Stockholders 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 annualized dividend and a dividend 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 Performance

Shares of NYSE:DBRG traded up $0.21 on Friday, hitting $14.39. 1,976,451 shares of the company’s stock were exchanged, compared to its average volume of 2,206,613. The firm’s 50-day moving average is $13.12 and its 200 day moving average is $14.57. The company has a market capitalization of $2.50 billion, a PE ratio of 9.28, a P/E/G ratio of 2.59 and a beta of 1.96. DigitalBridge Group has a 1-year low of $11.07 and a 1-year high of $20.99.

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

Analyst Ratings Changes

DBRG has been the subject of a number of recent research reports. Raymond James decreased their price objective on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 8th. Keefe, Bruyette & Woods decreased their price objective on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. B. Riley decreased their price objective on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price objective on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company decreased their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target 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.