Wall Street brokerages forecast that Broadmark Realty Capital Inc. (NYSE:BRMK) will report earnings of $0.21 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Broadmark Realty Capital’s earnings, with estimates ranging from $0.20 to $0.21. Broadmark Realty Capital reported earnings of $0.20 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 5%. The firm is scheduled to issue its next earnings report on Thursday, February 24th.
On average, analysts expect that Broadmark Realty Capital will report full year earnings of $0.75 per share for the current financial year, with EPS estimates ranging from $0.73 to $0.76. For the next year, analysts forecast that the business will report earnings of $0.93 per share, with EPS estimates ranging from $0.87 to $0.98. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Broadmark Realty Capital.
Broadmark Realty Capital (NYSE:BRMK) last announced its earnings results on Sunday, November 7th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Broadmark Realty Capital had a net margin of 67.93% and a return on equity of 8.16%. During the same period in the previous year, the firm earned $0.18 EPS.
Separately, Zacks Investment Research upgraded Broadmark Realty Capital from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $10.00.
Broadmark Realty Capital stock traded up $0.06 during midday trading on Friday, reaching $9.20. 960,476 shares of the stock traded hands, compared to its average volume of 987,626. The company has a 50-day simple moving average of $9.48 and a two-hundred day simple moving average of $10.01. Broadmark Realty Capital has a 12-month low of $8.85 and a 12-month high of $11.10. The firm has a market cap of $1.22 billion, a PE ratio of 14.84 and a beta of 0.82.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 15th. Stockholders of record on Monday, January 31st will be paid a $0.07 dividend. This represents a $0.84 annualized dividend and a dividend yield of 9.13%. The ex-dividend date of this dividend is Friday, January 28th. Broadmark Realty Capital’s payout ratio is presently 135.48%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of Broadmark Realty Capital during the 2nd quarter worth about $44,000. XTX Topco Ltd acquired a new stake in shares of Broadmark Realty Capital during the 2nd quarter worth about $110,000. Price T Rowe Associates Inc. MD acquired a new position in Broadmark Realty Capital during the second quarter worth approximately $118,000. Advisor Group Holdings Inc. increased its position in Broadmark Realty Capital by 73.5% during the second quarter. Advisor Group Holdings Inc. now owns 11,448 shares of the company’s stock worth $121,000 after buying an additional 4,848 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in Broadmark Realty Capital by 17.4% during the second quarter. Commonwealth Equity Services LLC now owns 13,246 shares of the company’s stock worth $140,000 after buying an additional 1,966 shares during the period. 48.33% of the stock is currently owned by institutional investors and hedge funds.
About Broadmark Realty Capital
Broadmark Realty Capital Inc, together with its subsidiaries, engages in the underwriting, funding, servicing, and managing a portfolio of short-term and first deed of trust loans to fund the construction, development, and investment in residential or commercial properties in the United States. It also provides short-term and first deed of trust loans secured by real estate to fund the construction and development, investment in residential or commercial properties.
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