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

DigitalBridge Group, Inc. (NYSE:DBRG) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Sunday, June 30th will be paid a dividend of 0.01 per share on Monday, July 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Friday, June 28th.

DigitalBridge Group has a dividend payout ratio of 10.8% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of DigitalBridge Group stock traded up $0.43 during trading hours on Thursday, hitting $14.54. 3,584,391 shares of the company’s stock traded hands, compared to its average volume of 2,254,889. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 9.22 and a beta of 1.95. DigitalBridge Group has a 12-month low of $10.20 and a 12-month high of $20.99. The company has a fifty day simple moving average of $18.16 and a 200-day simple moving average of $17.73.

DigitalBridge Group (NYSE:DBRG) last released its earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The firm had revenue of $350.31 million for the quarter, compared to analysts’ expectations of $287.41 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 2.91%. On average, analysts forecast that DigitalBridge Group will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

DBRG has been the topic of a number of recent research reports. Truist Financial upped their price target on shares of DigitalBridge Group from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. cut their price target on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $21.75.

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.