Broadmark Realty Capital Inc. (BRMK) to Issue Monthly Dividend of $0.04 on April 14th

Broadmark Realty Capital Inc. (NYSE:BRMK – Get Rating) declared a monthly dividend on Wednesday, March 15th, Wall Street Journal reports. Shareholders of record on Friday, March 31st will be given a dividend of 0.035 per share on Friday, April 14th. This represents a $0.42 dividend on an annualized basis and a yield of 9.31%. The ex-dividend date of this dividend is Thursday, March 30th.

Broadmark Realty Capital has raised its dividend by an average of 85.8% per year over the last three years. Broadmark Realty Capital has a dividend payout ratio of 65.6% indicating that its dividend is sufficiently covered by earnings.

Broadmark Realty Capital Stock Up 0.9 %

NYSE BRMK opened at $4.51 on Friday. Broadmark Realty Capital has a one year low of $3.52 and a one year high of $8.91. The stock’s 50-day moving average is $4.43 and its 200-day moving average is $4.80.

Broadmark Realty Capital (NYSE:BRMK – Get Rating) last announced its earnings results on Monday, February 27th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). The company had revenue of $21.07 million for the quarter, compared to analyst estimates of $25.76 million. Broadmark Realty Capital had a positive return on equity of 6.13% and a negative net margin of 109.20%. During the same quarter last year, the business posted $0.18 earnings per share. On average, equities research analysts forecast that Broadmark Realty Capital will post 0.42 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BRMK. B. Riley lowered shares of Broadmark Realty Capital from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $7.50 to $5.00 in a research note on Monday, November 21st. Piper Sandler upgraded Broadmark Realty Capital from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $3.75 to $6.00 in a report on Tuesday, February 28th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in Broadmark Realty Capital by 218.7% in the 3rd quarter. Royal Bank of Canada now owns 7,944 shares of the company’s stock valued at $40,000 after buying an additional 5,451 shares during the last quarter. Clear Street Markets LLC bought a new stake in Broadmark Realty Capital during the fourth quarter worth about $30,000. Point72 Middle East FZE acquired a new position in Broadmark Realty Capital during the fourth quarter valued at approximately $47,000. B. Riley Wealth Advisors Inc. bought a new position in Broadmark Realty Capital in the third quarter valued at approximately $68,000. Finally, CI Private Wealth LLC bought a new position in Broadmark Realty Capital in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 46.50% 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.