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

DigitalBridge Group, Inc. (NYSE:DBRG) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders 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 dividend yield of 0.33%. The ex-dividend date of this dividend is Monday, March 31st.

DigitalBridge Group has a dividend payout ratio of 400.0% 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 $0.32 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 Trading Down 0.5 %

Shares of DBRG opened at $12.18 on Friday. The stock has a market cap of $2.12 billion, a PE ratio of 405.83, a PEG ratio of 3.46 and a beta of 1.91. DigitalBridge Group has a 1 year low of $10.03 and a 1 year high of $19.49. The stock has a 50 day simple moving average of $10.99 and a 200-day simple moving average of $12.62.

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. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. The firm had revenue of $101.55 million during the quarter, compared to analyst estimates of $93.01 million. On average, sell-side analysts forecast that DigitalBridge Group will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DBRG shares. JPMorgan Chase & Co. reduced their price target on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. JMP Securities started coverage on DigitalBridge Group in a research report on Monday, January 27th. They set an “outperform” rating and a $16.00 price target on the stock. Raymond James cut their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 5th. Citizens Jmp raised shares of DigitalBridge Group to a “strong-buy” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company cut their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $16.67.

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.