Broadmark Realty Capital Inc. (NYSE:BRMK – Get Rating) declared a monthly dividend on Thursday, September 15th, Zacks reports. Investors of record on Friday, September 30th will be given a dividend of 0.07 per share on Monday, October 17th. This represents a $0.84 annualized dividend and a yield of 15.38%. The ex-dividend date is Thursday, September 29th.
Broadmark Realty Capital has a dividend payout ratio of 115.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Broadmark Realty Capital to earn $0.73 per share next year, which means the company may not be able to cover its $0.84 annual dividend with an expected future payout ratio of 115.1%.
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NYSE BRMK opened at $5.46 on Wednesday. Broadmark Realty Capital has a one year low of $5.32 and a one year high of $10.49. The company's 50 day moving average price is $6.75 and its 200 day moving average price is $7.30. The firm has a market capitalization of $725.47 million, a price-to-earnings ratio of 9.25 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 EPS for the quarter, missing the consensus estimate 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 previous year, the business posted $0.17 earnings per share. Sell-side analysts forecast that Broadmark Realty Capital will post 0.65 EPS for the current fiscal year.Wall Street Analysts Forecast Growth
Several research analysts recently commented on BRMK shares. B. Riley cut their price target 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. Piper Sandler downgraded shares of Broadmark Realty Capital from a "neutral" rating to an "underweight" rating and set a $7.00 price objective for the company. in a research report on Tuesday, August 9th.
Institutional Trading of Broadmark Realty Capital
Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its position in Broadmark Realty Capital by 90.2% in the first quarter. Renaissance Technologies LLC now owns 222,200 shares of the company's stock valued at $1,922,000 after acquiring an additional 105,400 shares in the last quarter. Aviva PLC acquired a new stake in shares of Broadmark Realty Capital during the first quarter worth approximately $1,528,000. ExodusPoint Capital Management LP grew its position in shares of Broadmark Realty Capital by 147.2% during the second quarter. ExodusPoint Capital Management LP now owns 200,730 shares of the company's stock worth $1,347,000 after buying an additional 119,542 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Broadmark Realty Capital by 20.7% during the first quarter. HighTower Advisors LLC now owns 149,244 shares of the company's stock worth $1,291,000 after buying an additional 25,614 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Broadmark Realty Capital by 10.1% during the second quarter. Rhumbline Advisers now owns 188,288 shares of the company's stock worth $1,263,000 after buying an additional 17,273 shares in the last quarter. Institutional investors and hedge funds own 45.99% of the company's stock.
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.
Further Reading
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