DigitalBridge Group, Inc. (DBRG) To Go Ex-Dividend on June 28th

DigitalBridge Group, Inc. (NYSE:DBRG) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Shareholders of record on Sunday, June 30th will be given a dividend of 0.01 per share on Monday, July 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, June 28th.

DigitalBridge Group has a payout ratio of -66.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect DigitalBridge Group to earn $0.34 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 11.8%.

DigitalBridge Group Price Performance

NYSE:DBRG traded up $0.03 on Wednesday, hitting $13.36. 1,072,988 shares of the company’s stock were exchanged, compared to its average volume of 2,254,181. The firm has a 50-day moving average price of $14.24 and a 200-day moving average price of $17.00. The company has a market cap of $2.32 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.96. DigitalBridge Group has a 52 week low of $12.12 and a 52 week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. The firm had revenue of $74.39 million for the quarter, compared to the consensus estimate of $100.76 million. On average, research analysts expect that DigitalBridge Group will post 0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on DBRG. Keefe, Bruyette & Woods cut 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 report on Tuesday, June 18th. JPMorgan Chase & Co. cut their price objective on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Truist Financial lowered their target price on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $17.00 price objective (down from $21.00) on shares of DigitalBridge Group in a research note on Tuesday, June 18th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $20.96.

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.