State Board of Administration of Florida Retirement System Raises Stock Holdings in Broadmark Realty Capital Inc. (NYSE:BRMK)

State Board of Administration of Florida Retirement System increased its position in Broadmark Realty Capital Inc. (NYSE:BRMKGet Rating) by 153.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 79,896 shares of the company’s stock after purchasing an additional 48,343 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Broadmark Realty Capital were worth $536,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Invesco Ltd. increased its position in Broadmark Realty Capital by 3.6% during the 1st quarter. Invesco Ltd. now owns 1,877,366 shares of the company’s stock valued at $16,239,000 after purchasing an additional 65,547 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Broadmark Realty Capital by 13.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,414,023 shares of the company’s stock valued at $12,231,000 after purchasing an additional 163,520 shares during the period. Charles Schwab Investment Management Inc. increased its position in Broadmark Realty Capital by 12.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,038,120 shares of the company’s stock valued at $8,980,000 after purchasing an additional 113,452 shares during the period. Lido Advisors LLC increased its position in Broadmark Realty Capital by 276.3% during the 1st quarter. Lido Advisors LLC now owns 527,947 shares of the company’s stock valued at $4,566,000 after purchasing an additional 387,665 shares during the period. Finally, Prairiewood Capital LLC increased its position in Broadmark Realty Capital by 10.3% during the 2nd quarter. Prairiewood Capital LLC now owns 523,856 shares of the company’s stock valued at $3,515,000 after purchasing an additional 49,038 shares during the period. 45.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on BRMK shares. TheStreet raised shares of Broadmark Realty Capital from a “d+” rating to a “c-” rating in a research report on Monday, November 14th. Piper Sandler reduced their target price on shares of Broadmark Realty Capital to $5.00 in a research report on Tuesday, November 15th. B. Riley reduced their target price on shares of Broadmark Realty Capital from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Tuesday, October 25th. Finally, Raymond James downgraded shares of Broadmark Realty Capital from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 8th.

Broadmark Realty Capital Stock Performance

BRMK opened at $4.33 on Friday. The stock has a market capitalization of $575.54 million, a P/E ratio of 9.62 and a beta of 1.01. The company’s 50-day simple moving average is $5.49 and its two-hundred day simple moving average is $6.49. Broadmark Realty Capital Inc. has a 52-week low of $4.24 and a 52-week high of $9.87.

Broadmark Realty Capital Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.42 dividend on an annualized basis and a yield of 9.70%. Broadmark Realty Capital’s dividend payout ratio is presently 186.67%.

About Broadmark Realty Capital

(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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Institutional Ownership by Quarter for Broadmark Realty Capital (NYSE:BRMK)

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