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

DigitalBridge Group, Inc. (NYSE:DBRG) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st.

DigitalBridge Group has a payout ratio of -57.1% 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 $0.32 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 2.9 %

Shares of NYSE DBRG opened at $8.88 on Friday. DigitalBridge Group has a 52 week low of $8.78 and a 52 week high of $19.49. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 295.83, a price-to-earnings-growth ratio of 3.46 and a beta of 1.91. The firm has a 50-day simple moving average of $10.45 and a 200-day simple moving average of $12.22.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DBRG. Wells Fargo & Company boosted their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Truist Financial lowered their price objective on shares of DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Citizens Jmp raised shares of DigitalBridge Group to a “strong-buy” rating in a research report on Monday, January 27th. Finally, JMP Securities initiated coverage on DigitalBridge Group in a research report on Monday, January 27th. They set an “outperform” rating and a $16.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, DigitalBridge Group presently has a consensus rating of “Buy” and a consensus price target of $16.39.

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.