In trading on Tuesday, DigitalBridge Group Inc’s 7.15% Series I Cumulative Redeemable Perpetual Preferred Stock (Symbol: DBRG.PRI) showed a yield surpassing 12%, based on its quarterly dividend of $1.7875 annually. Shares were priced as low as $14.28 during the day. This yield significantly exceeds the average of 8.05% in the real estate preferred stock category.
DBRG.PRI was trading at a 39.00% discount to its liquidation preference amount, in stark contrast to the average discount of 14.25% within the same category. On the same day, the preferred stock fell approximately 1.6%, while the common shares (Symbol: DBRG) remained relatively flat.
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