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

Key Points

• DigitalBridge Group, Inc. declared a quarterly dividend of $0.01 per share, which represents an annualized dividend yield of 0.4% for investors of record as of September 30th.
• The company has a low payout ratio of 12.5%, indicating that its dividend is well covered by earnings, with expected future earnings of $0.32 per share next year.
• Institutional ownership in DigitalBridge Group stands at 92.69%, with several hedge funds increasing their stakes significantly in the recent quarters.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) announced a quarterly dividend on Thursday, August 7th, RTT News reports. Stockholders of record on Tuesday, September 30th will be given a dividend of 0.01 per share on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 30th.

DigitalBridge Group has a dividend payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE DBRG traded up $0.22 during trading hours on Friday, hitting $10.49. 2,037,193 shares of the company's stock were exchanged, compared to its average volume of 1,781,086. DigitalBridge Group has a 1-year low of $6.41 and a 1-year high of $17.33. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -262.25, a PEG ratio of 1.18 and a beta of 1.77. The company's 50-day moving average price is $10.61 and its 200-day moving average price is $10.03.

Hedge Funds Weigh In On DigitalBridge Group

Large investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its holdings in DigitalBridge Group by 109.9% in the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock valued at $31,000 after acquiring an additional 1,464 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in DigitalBridge Group in the 4th quarter valued at approximately $39,000. GAMMA Investing LLC raised its holdings in DigitalBridge Group by 978.9% in the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company's stock valued at $39,000 after acquiring an additional 4,033 shares in the last quarter. Spire Wealth Management raised its holdings in DigitalBridge Group by 91.1% in the 1st quarter. Spire Wealth Management now owns 6,208 shares of the company's stock valued at $55,000 after acquiring an additional 2,960 shares in the last quarter. Finally, US Bancorp DE raised its holdings in DigitalBridge Group by 187.3% in the 1st quarter. US Bancorp DE now owns 6,265 shares of the company's stock valued at $55,000 after acquiring an additional 4,084 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

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.