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

DigitalBridge Group, Inc. (NYSE:DBRG) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors 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 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Friday, June 28th.

DigitalBridge Group has a payout ratio of 10.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect DigitalBridge Group to earn $0.40 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 10.0%.

DigitalBridge Group Stock Performance

NYSE:DBRG traded up $0.43 during trading hours on Thursday, hitting $14.54. The stock had a trading volume of 3,584,391 shares, compared to its average volume of 2,254,889. The business’s 50 day moving average is $18.16 and its 200-day moving average is $17.73. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 9.22 and a beta of 1.95. DigitalBridge Group has a one year low of $10.20 and a one year high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. DigitalBridge Group had a return on equity of 2.91% and a net margin of 26.64%. The business had revenue of $350.31 million for the quarter, compared to the consensus estimate of $287.41 million. On average, sell-side analysts anticipate that DigitalBridge Group will post 0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Truist Financial lifted their price objective on DigitalBridge Group from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. cut their price target on shares of DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, DigitalBridge Group has a consensus rating of “Buy” and a consensus price target of $21.75.

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.