Broadmark Realty Capital (NYSE:BRMK) Stock Rating Lowered by B. Riley

B. Riley lowered shares of Broadmark Realty Capital (NYSE:BRMKGet Rating) from a buy rating to a neutral rating in a report published on Monday, MarketBeat Ratings reports. The brokerage currently has $5.00 price objective on the stock, down from their prior price objective of $7.50.

Several other analysts also recently commented on BRMK. Piper Sandler lowered their price objective on Broadmark Realty Capital to $5.00 in a research note on Tuesday, November 15th. Raymond James downgraded Broadmark Realty Capital from an outperform rating to a market perform rating in a research note on Tuesday, November 8th. Finally, TheStreet raised Broadmark Realty Capital from a d+ rating to a c- rating in a research note on Monday, November 14th.

Broadmark Realty Capital Stock Down 0.5 %

Shares of Broadmark Realty Capital stock opened at $4.20 on Monday. The company has a market cap of $558.26 million, a PE ratio of 9.33 and a beta of 1.01. Broadmark Realty Capital has a 52 week low of $4.15 and a 52 week high of $9.85. The business has a 50 day moving average price of $5.32 and a 200-day moving average price of $6.38.

Broadmark Realty Capital Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a $0.035 dividend. This represents a $0.42 annualized dividend and a dividend yield of 10.00%. The ex-dividend date is Tuesday, November 29th. Broadmark Realty Capital’s dividend payout ratio is presently 186.67%.

Hedge Funds Weigh In On Broadmark Realty Capital

Institutional investors have recently modified their holdings of the business. Signaturefd LLC grew its holdings in shares of Broadmark Realty Capital by 559.8% in the first quarter. Signaturefd LLC now owns 3,385 shares of the company’s stock valued at $29,000 after acquiring an additional 2,872 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of Broadmark Realty Capital in the third quarter valued at approximately $38,000. Royal Bank of Canada grew its holdings in shares of Broadmark Realty Capital by 218.7% in the third quarter. Royal Bank of Canada now owns 7,944 shares of the company’s stock valued at $40,000 after acquiring an additional 5,451 shares in the last quarter. First Republic Investment Management Inc. bought a new position in shares of Broadmark Realty Capital in the third quarter valued at approximately $53,000. Finally, Carnegie Capital Asset Management LLC bought a new position in shares of Broadmark Realty Capital in the second quarter valued at approximately $129,000. 45.99% of the stock is owned by institutional investors.

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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