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 paid a dividend of 0.01 per share on Tuesday, October 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Monday, September 30th.

DigitalBridge Group has a payout ratio of -50.0% meaning 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 Trading Up 1.5 %

DBRG stock opened at $14.39 on Friday. The company has a market capitalization of $2.50 billion, a P/E ratio of 9.28, a PEG ratio of 2.59 and a beta of 1.96. The firm has a 50 day simple moving average of $13.12 and a 200-day simple moving average of $14.54. DigitalBridge Group has a twelve month low of $11.07 and a twelve month high of $20.99.

DigitalBridge Group (NYSE:DBRG) last released its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share 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 company had revenue of $390.34 million during the quarter, compared to the consensus estimate of $97.05 million. On average, research analysts predict that DigitalBridge Group will post 0.16 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on DBRG. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 target price on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Raymond James dropped their target price on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 8th. B. Riley decreased their price target on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Wells Fargo & Company dropped their price objective 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, August 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, DigitalBridge Group currently has an average rating of “Buy” and a consensus 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.