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Broadmark Realty Capital Inc. (NYSE:BRMK) Sees Significant Increase in Short Interest

Financial News Live · Sep 18, 2022 14:21

Broadmark Realty Capital Inc. (NYSE:BRMK – Get Rating) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 4,890,000 shares, an increase of 43.4% from the August 15th total of 3,410,000 shares. Approximately 3.9% of the company's shares are sold short. Based on an average daily volume of 902,200 shares, the days-to-cover ratio is currently 5.4 days.

Analysts Set New Price Targets

BRMK has been the subject of a number of research analyst reports. B. Riley decreased their target price on Broadmark Realty Capital from $12.50 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, June 15th. Piper Sandler downgraded Broadmark Realty Capital from a "neutral" rating to an "underweight" rating and set a $7.00 price target on the stock. in a research note on Tuesday, August 9th.

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Hedge Funds Weigh In On Broadmark Realty Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Aspireon Wealth Advisors grew its holdings in shares of Broadmark Realty Capital by 0.4% during the second quarter. Aspireon Wealth Advisors now owns 352,178 shares of the company's stock worth $2,366,000 after buying an additional 1,323 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Broadmark Realty Capital by 6.5% during the first quarter. Teacher Retirement System of Texas now owns 25,916 shares of the company's stock worth $224,000 after buying an additional 1,587 shares during the last quarter. Bridgewater Advisors Inc. grew its holdings in shares of Broadmark Realty Capital by 2.4% during the first quarter. Bridgewater Advisors Inc. now owns 71,410 shares of the company's stock worth $618,000 after buying an additional 1,701 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Broadmark Realty Capital by 5.5% during the second quarter. Arizona State Retirement System now owns 35,960 shares of the company's stock worth $241,000 after buying an additional 1,885 shares during the last quarter. Finally, Claraphi Advisory Network LLC boosted its holdings in Broadmark Realty Capital by 4.9% in the 2nd quarter. Claraphi Advisory Network LLC now owns 42,800 shares of the company's stock valued at $287,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 45.99% of the company's stock.

Broadmark Realty Capital Stock Performance

Shares of BRMK traded up $0.10 during midday trading on Friday, hitting $6.39. 2,622,177 shares of the stock were exchanged, compared to its average volume of 791,103. Broadmark Realty Capital has a 52-week low of $6.11 and a 52-week high of $10.49. The stock has a fifty day simple moving average of $6.86 and a 200 day simple moving average of $7.40. The firm has a market cap of $849.04 million, a P/E ratio of 10.83 and a beta of 0.90.

Broadmark Realty Capital (NYSE:BRMK – Get Rating) last posted its quarterly 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 period last year, the firm earned $0.17 earnings per share. As a group, equities research analysts forecast that Broadmark Realty Capital will post 0.65 EPS for the current fiscal year.

Broadmark Realty Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.07 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 13.15%. The ex-dividend date is Thursday, September 29th. Broadmark Realty Capital's dividend payout ratio (DPR) is currently 142.37%.

Broadmark Realty Capital Company Profile

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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.