Broadmark Realty Capital Inc. (NYSE:BRMK) Expected to Announce Quarterly Sales of $34.86 Million

Analysts forecast that Broadmark Realty Capital Inc. (NYSE:BRMKGet Rating) will post sales of $34.86 million for the current quarter, Zacks reports. Two analysts have provided estimates for Broadmark Realty Capital’s earnings, with the lowest sales estimate coming in at $30.50 million and the highest estimate coming in at $39.23 million. Broadmark Realty Capital reported sales of $29.18 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 19.5%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Broadmark Realty Capital will report full-year sales of $143.99 million for the current year, with estimates ranging from $124.00 million to $163.98 million. For the next fiscal year, analysts forecast that the business will post sales of $132.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Broadmark Realty Capital.

Broadmark Realty Capital (NYSE:BRMKGet Rating) last issued its quarterly earnings results on Monday, February 28th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). Broadmark Realty Capital had a return on equity of 7.83% and a net margin of 66.29%. During the same quarter last year, the company posted $0.19 earnings per share.

A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Broadmark Realty Capital from a “hold” rating to a “sell” rating in a research report on Wednesday. Raymond James dropped their target price on shares of Broadmark Realty Capital from $12.50 to $11.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Riverview Trust Co acquired a new position in Broadmark Realty Capital during the first quarter worth $25,000. Signaturefd LLC grew its stake in shares of Broadmark Realty Capital by 559.8% in the 1st quarter. Signaturefd LLC now owns 3,385 shares of the company’s stock worth $29,000 after acquiring an additional 2,872 shares in the last quarter. CWM LLC grew its stake in shares of Broadmark Realty Capital by 397.6% in the 1st quarter. CWM LLC now owns 3,916 shares of the company’s stock worth $34,000 after acquiring an additional 3,129 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Broadmark Realty Capital in the 4th quarter worth $104,000. Finally, Moors & Cabot Inc. bought a new stake in shares of Broadmark Realty Capital in the 3rd quarter worth $940,000. Hedge funds and other institutional investors own 48.37% of the company’s stock.

Shares of NYSE BRMK opened at $7.42 on Friday. The company has a market capitalization of $985.26 million, a P/E ratio of 12.16 and a beta of 0.81. Broadmark Realty Capital has a 52-week low of $6.99 and a 52-week high of $11.10. The company’s 50 day moving average price is $8.23 and its 200-day moving average price is $9.02.

The business also recently announced a monthly dividend, which will be paid on Monday, May 16th. Investors of record on Friday, April 29th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 11.32%. Broadmark Realty Capital’s payout ratio is presently 137.70%.

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.

Featured Stories

Get a free copy of the Zacks research report on Broadmark Realty Capital (BRMK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Broadmark Realty Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadmark Realty Capital and related companies with MarketBeat.com's FREE daily email newsletter.