Broadmark Realty Capital (NYSE:BRMK) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Broadmark Realty Capital (NYSE:BRMK) from a hold rating to a sell rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Broadmark Realty Capital Inc. is a real estate investment trust. It engages in acquisition, renovation, rehabilitation and development of residential and commercial properties. Broadmark Realty Capital Inc., formerly known as Trinity Merger Corp., is based in Seattle, Washington. “

NYSE BRMK opened at $9.76 on Wednesday. Broadmark Realty Capital has a 52 week low of $9.63 and a 52 week high of $11.10. The firm has a market capitalization of $1.30 billion, a P/E ratio of 15.74 and a beta of 0.79. The company has a 50-day moving average price of $10.13 and a 200-day moving average price of $10.37.

Broadmark Realty Capital (NYSE:BRMK) last released its quarterly earnings results on Sunday, November 7th. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 quarter in the previous year, the business posted $0.18 EPS. As a group, analysts forecast that Broadmark Realty Capital will post 0.76 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 15th. Investors of record on Tuesday, November 30th will be paid a dividend of $0.07 per share. The ex-dividend date is Monday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.61%. Broadmark Realty Capital’s dividend payout ratio (DPR) is presently 135.48%.

Several large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in shares of 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 acquiring an additional 31,790 shares during the period. Colony Group LLC bought a new position in shares of Broadmark Realty Capital during the 3rd quarter valued at approximately $2,590,000. Janus Henderson Group PLC bought a new position in shares of Broadmark Realty Capital during the 3rd quarter valued at approximately $280,000. Two Sigma Advisers LP grew its stake in shares of Broadmark Realty Capital by 14.6% during the 3rd quarter. Two Sigma Advisers LP now owns 699,200 shares of the company’s stock valued at $6,894,000 after acquiring an additional 89,200 shares during the period. Finally, Verition Fund Management LLC bought a new position in shares of Broadmark Realty Capital during the 3rd quarter valued at approximately $304,000. Institutional investors own 49.41% of the company’s stock.

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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