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

by · The Markets Daily

DigitalBridge Group, Inc. (NYSE:DBRG – Get Free Report) 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 dividend 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 Price Performance

Shares of NYSE:DBRG opened at $14.39 on Friday. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 2.59 and a beta of 1.96. DigitalBridge Group has a 12 month low of $11.07 and a 12 month high of $20.99. The stock’s 50 day moving average price is $13.12 and its 200 day moving average price is $14.54.

DigitalBridge Group (NYSE:DBRG – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $390.34 million during the quarter, compared to the consensus estimate of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. On average, sell-side analysts expect that DigitalBridge Group will post 0.16 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on DBRG. B. Riley dropped their price target on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Truist Financial dropped their target price on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Keefe, Bruyette & Woods reduced their target price on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a report on Tuesday, June 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $19.00 price objective on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, DigitalBridge Group currently has an average rating of “Buy” and a consensus price target of $19.22.

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About DigitalBridge Group

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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.

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