DigitalBridge Group, Inc. (NYSE:DBRG) Plans $0.01 Quarterly Dividend

DigitalBridge Group, Inc. (NYSE:DBRG) declared a quarterly dividend on Tuesday, November 5th, Wall Street Journal reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.01 per share on Wednesday, January 15th. This represents a $0.04 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Tuesday, December 31st.

DigitalBridge Group has a payout ratio of -30.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Up 1.2 %

Shares of DBRG opened at $12.76 on Thursday. DigitalBridge Group has a 52-week low of $11.07 and a 52-week high of $20.99. The stock has a market cap of $2.22 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 2.21 and a beta of 1.94. The firm’s fifty day moving average is $14.33 and its two-hundred day moving average is $13.88.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 3.58% and a net margin of 21.42%. As a group, research analysts anticipate that DigitalBridge Group will post 0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

DBRG has been the topic of several recent research reports. Keefe, Bruyette & Woods cut DigitalBridge Group from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $17.75 to $14.00 in a report on Wednesday. Truist Financial reduced their target price on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, Raymond James cut their target price on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $18.13.

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.