Broadmark Realty Capital Inc. Plans Monthly Dividend of $0.07 (NYSE:BRMK)

Broadmark Realty Capital Inc. (NYSE:BRMK – Get Rating) declared a monthly dividend on Monday, April 18th, Zacks reports. Shareholders of record on Friday, April 29th will be paid a dividend of 0.07 per share on Monday, May 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.99%. The ex-dividend date of this dividend is Thursday, April 28th.

Broadmark Realty Capital has a payout ratio of 105.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Broadmark Realty Capital to earn $0.81 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 103.7%.

Shares of NYSE:BRMK opened at $8.41 on Tuesday. Broadmark Realty Capital has a 52 week low of $7.86 and a 52 week high of $11.10. The stock has a market capitalization of $1.12 billion, a P/E ratio of 13.56 and a beta of 0.80. The firm has a fifty day simple moving average of $8.53 and a two-hundred day simple moving average of $9.30.

Broadmark Realty Capital (NYSE:BRMK – Get Rating) last issued its quarterly earnings data on Monday, February 28th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). Broadmark Realty Capital had a return on equity of 8.04% and a net margin of 68.43%. During the same quarter in the previous year, the firm earned $0.19 earnings per share. On average, equities research analysts forecast that Broadmark Realty Capital will post 0.87 earnings per share for the current year.

A number of equities analysts recently commented on the stock. Raymond James dropped their price target on shares of Broadmark Realty Capital from $12.50 to $11.00 and set an “outperform” rating for the company in a research note on Wednesday, March 2nd. Zacks Investment Research cut shares of Broadmark Realty Capital from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 3rd.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Broadmark Realty Capital by 0.8% during the 4th quarter. State Street Corp now owns 2,890,568 shares of the company’s stock valued at $27,459,000 after buying an additional 23,698 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Broadmark Realty Capital by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 2,302,698 shares of the company’s stock valued at $21,714,000 after buying an additional 83,917 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Broadmark Realty Capital by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 924,668 shares of the company’s stock valued at $8,720,000 after buying an additional 15,467 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Broadmark Realty Capital by 88.8% during the 4th quarter. JPMorgan Chase & Co. now owns 559,397 shares of the company’s stock valued at $5,274,000 after buying an additional 263,060 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Broadmark Realty Capital by 6.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 504,267 shares of the company’s stock valued at $4,972,000 after buying an additional 31,790 shares in the last quarter. Institutional investors own 49.26% of the company’s stock.

Broadmark Realty Capital Company Profile (Get Rating)

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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