Broadmark Realty Capital Inc. (NYSE:BRMK – Get Rating) declared a monthly dividend on Monday, August 15th, Zacks reports. Stockholders of record on Wednesday, August 31st will be given a dividend of 0.07 per share on Thursday, September 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 11.95%. The ex-dividend date is Tuesday, August 30th.
Broadmark Realty Capital has a dividend payout ratio of 113.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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%.
Broadmark Realty Capital Trading Down 1.7 %
Broadmark Realty Capital stock traded down $0.12 during midday trading on Wednesday, reaching $7.03. 3,590 shares of the stock traded hands, compared to its average volume of 803,634. The company has a 50-day simple moving average of $6.93 and a two-hundred day simple moving average of $7.78. Broadmark Realty Capital has a 12-month low of $6.12 and a 12-month high of $10.72. The firm has a market cap of $934.08 million, a PE ratio of 12.12 and a beta of 0.86.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on BRMK. Piper Sandler downgraded shares of Broadmark Realty Capital from a “neutral” rating to an “underweight” rating and set a $7.00 target price on the stock. in a report on Tuesday, August 9th. B. Riley reduced their price objective on shares of 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. Finally, TheStreet downgraded shares of Broadmark Realty Capital from a “c-” rating to a “d” rating in a research report on Friday, May 20th.
Insiders Place Their Bets
In related news, CEO Brian Phillip Ward acquired 31,925 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The stock was acquired at an average cost of $6.26 per share, for a total transaction of $199,850.50. Following the completion of the acquisition, the chief executive officer now directly owns 114,748 shares of the company’s stock, valued at approximately $718,322.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.90% of the stock is owned by insiders.
Institutional Trading of Broadmark Realty Capital
Several institutional investors and hedge funds have recently added to or reduced their stakes in BRMK. Citadel Advisors LLC lifted its position in shares of Broadmark Realty Capital by 68.7% in the 2nd quarter. Citadel Advisors LLC now owns 671,718 shares of the company’s stock valued at $4,508,000 after acquiring an additional 273,430 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Broadmark Realty Capital in the 1st quarter valued at approximately $4,435,000. Renaissance Technologies LLC lifted its position in Broadmark Realty Capital by 90.2% in the 1st quarter. Renaissance Technologies LLC now owns 222,200 shares of the company’s stock worth $1,922,000 after buying an additional 105,400 shares in the last quarter. Aviva PLC purchased a new stake in Broadmark Realty Capital in the 1st quarter worth approximately $1,528,000. Finally, HighTower Advisors LLC lifted its position in Broadmark Realty Capital by 20.7% in the 1st 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. 48.37% of the stock is owned by institutional investors and hedge funds.
Broadmark Realty Capital Company Profile
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.
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