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

Broadmark Realty Capital Inc. (NYSE:BRMKGet Rating) declared a monthly dividend on Thursday, June 16th, Wall Street Journal reports. Shareholders of record on Thursday, June 30th will be given a dividend of 0.07 per share on Friday, July 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 13.55%. The ex-dividend date of this dividend is Wednesday, June 29th.

Broadmark Realty Capital has a dividend payout ratio of 113.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Broadmark Realty Capital to earn $0.74 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 113.5%.

Broadmark Realty Capital stock opened at $6.20 on Friday. The firm’s fifty day moving average price is $7.61 and its two-hundred day moving average price is $8.53. Broadmark Realty Capital has a 1-year low of $6.12 and a 1-year high of $11.10. The firm has a market capitalization of $823.30 million, a price-to-earnings ratio of 10.16 and a beta of 0.82.

In related news, CEO Brian Phillip Ward acquired 31,925 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The stock was acquired at an average price of $6.26 per share, for a total transaction of $199,850.50. Following the completion of the acquisition, the chief executive officer now owns 114,748 shares of the company’s stock, valued at approximately $718,322.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lido Advisors LLC increased its holdings in Broadmark Realty Capital by 276.3% during the first quarter. Lido Advisors LLC now owns 527,947 shares of the company’s stock worth $4,566,000 after buying an additional 387,665 shares during the last quarter. Invesco Ltd. increased its holdings in Broadmark Realty Capital by 3.6% during the first quarter. Invesco Ltd. now owns 1,877,366 shares of the company’s stock worth $16,239,000 after buying an additional 65,547 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Broadmark Realty Capital by 66.7% during the first quarter. Hsbc Holdings PLC now owns 32,245 shares of the company’s stock worth $280,000 after buying an additional 12,899 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Broadmark Realty Capital by 90.2% in the first quarter. Renaissance Technologies LLC now owns 222,200 shares of the company’s stock worth $1,922,000 after purchasing an additional 105,400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Broadmark Realty Capital by 12.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,038,120 shares of the company’s stock worth $8,980,000 after purchasing an additional 113,452 shares in the last quarter. Institutional investors and hedge funds own 48.37% of the company’s stock.

A number of research analysts recently weighed in 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 on the stock in a research report on Wednesday, March 2nd. B. Riley dropped their price target on shares of Broadmark Realty Capital from $12.50 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday. TheStreet lowered shares of Broadmark Realty Capital from a “c-” rating to a “d” rating in a research report on Friday, May 20th. Finally, Piper Sandler assumed coverage on shares of Broadmark Realty Capital in a research report on Friday. They set a “neutral” rating and a $7.00 price target on the 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.

Further Reading

Dividend History for Broadmark Realty Capital (NYSE:BRMK)

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