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Broadmark Realty Capital (NYSE:BRMK) Hits New 12-Month Low at $6.12

Financial News Live · Sep 7, 2022 17:51

Shares of Broadmark Realty Capital Inc. (NYSE:BRMK – Get Rating) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $6.12 and last traded at $6.19, with a volume of 1086478 shares. The stock had previously closed at $6.19.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. B. Riley cut their price objective on shares of Broadmark Realty Capital from $12.50 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, June 15th. TheStreet lowered shares of Broadmark Realty Capital from a "c-" rating to a "d" rating in a report on Friday, May 20th. Finally, Piper Sandler lowered shares of Broadmark Realty Capital from a "neutral" rating to an "underweight" rating and set a $7.00 price objective on the stock. in a report on Tuesday, August 9th.

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Broadmark Realty Capital Price Performance

The company's 50-day moving average price is $6.98 and its 200-day moving average price is $7.60. The company has a market cap of $822.45 million, a P/E ratio of 10.49 and a beta of 0.90.

Broadmark Realty Capital (NYSE:BRMK – Get Rating) last released its earnings results on Monday, August 8th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Broadmark Realty Capital had a net margin of 64.74% and a return on equity of 7.63%. During the same quarter in the prior year, the company posted $0.17 earnings per share. On average, equities research analysts predict that Broadmark Realty Capital Inc. will post 0.65 EPS for the current year.

Broadmark Realty Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be paid a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 13.57%. The ex-dividend date is Tuesday, August 30th. Broadmark Realty Capital's dividend payout ratio is currently 142.37%.

Insider Buying and Selling at Broadmark Realty Capital

In other news, CEO Brian Phillip Ward purchased 31,925 shares of the business's stock in a transaction on Tuesday, June 14th. The stock was purchased at an average price of $6.26 per share, for a total transaction of $199,850.50. Following the completion of the purchase, the chief executive officer now directly owns 114,748 shares in the company, valued at approximately $718,322.48. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.90% of the company's stock.

Institutional Trading of Broadmark Realty Capital

Hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC lifted its stake in shares of Broadmark Realty Capital by 99.9% during the 4th quarter. HighTower Advisors LLC now owns 123,630 shares of the company's stock worth $1,161,000 after buying an additional 61,790 shares during the last quarter. Aspireon Wealth Advisors raised its stake in Broadmark Realty Capital by 196.5% in the 4th quarter. Aspireon Wealth Advisors now owns 219,166 shares of the company's stock worth $2,067,000 after purchasing an additional 145,257 shares in the last quarter. B. Riley Wealth Management Inc. raised its stake in Broadmark Realty Capital by 12.0% in the 1st quarter. B. Riley Wealth Management Inc. now owns 22,822 shares of the company's stock worth $197,000 after purchasing an additional 2,450 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Broadmark Realty Capital in the 1st quarter worth about $133,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Broadmark Realty Capital by 13.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,414,023 shares of the company's stock worth $12,231,000 after purchasing an additional 163,520 shares in the last quarter. Institutional investors and hedge funds own 45.99% of the company's stock.

About Broadmark Realty Capital

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Broadmark Realty Capital Inc operates as a commercial real estate finance company in the United States. It engages in underwriting, funding, servicing, and managing a portfolio of short-term trust loans to fund the construction and development, or investment in residential or commercial properties. The company has elected to be taxed as a real estate investment trust.