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

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend 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 Stock Performance

NYSE DBRG traded up $0.43 during trading hours on Thursday, reaching $14.54. The stock had a trading volume of 3,584,395 shares, compared to its average volume of 2,265,717. DigitalBridge Group has a 52-week low of $10.20 and a 52-week high of $20.99. The stock has a fifty day moving average of $18.16 and a 200 day moving average of $17.73. The stock has a market cap of $2.38 billion, a P/E ratio of 9.38 and a beta of 1.95.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. The business had revenue of $350.31 million during 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, equities research analysts forecast that DigitalBridge Group will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. 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 report on Tuesday, April 16th. JPMorgan Chase & Co. decreased their price objective on DigitalBridge Group from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Wednesday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price 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.