Broadmark Realty Capital Inc. (NASDAQ:BRMK) Plans $0.08 Monthly Dividend

Broadmark Realty Capital Inc. (NASDAQ:BRMK) declared a monthly dividend on Monday, January 13th, Wall Street Journal reports. Shareholders of record on Friday, January 31st will be paid a dividend of 0.08 per share on Friday, February 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.87%. The ex-dividend date of this dividend is Thursday, January 30th.

Broadmark Realty Capital has a payout ratio of 600.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Shares of BRMK opened at $12.20 on Tuesday. The firm has a market cap of $1.63 billion and a price-to-earnings ratio of 50.83. The company has a fifty day moving average of $12.13. Broadmark Realty Capital has a fifty-two week low of $10.77 and a fifty-two week high of $12.75.

A number of brokerages have weighed in on BRMK. Raymond James began coverage on shares of Broadmark Realty Capital in a report on Friday, November 22nd. They issued an “outperform” rating and a $12.00 price target on the stock. B. Riley reiterated a “buy” rating and issued a $13.00 price target on shares of Broadmark Realty Capital in a report on Monday, December 9th.

Broadmark Realty Capital Company Profile

Broadmark Realty Capital Inc provides short-term and first deed of trust loans secured by real estate to fund the acquisition, renovation, rehabilitation, and development of residential and commercial properties in the United States. The company has elected to be taxed as a real estate investment trust.

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