Broadmark Realty Capital Inc. (NYSE:BRMK) sees sharp drop in short-term interest
Broadmark Realty Capital Inc. (NYSE: BRMK) was the target of a significant drop in short interest in January. As of January 15, there was short interest totaling 2,560,000 shares, a decrease of 28.5% from the December 31 total of 3,580,000 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average trading volume of 1,010,000 shares, the short interest ratio is currently 2.5 days.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in Broadmark Realty Capital during the fourth quarter, valued at approximately $506,000. Van ECK Associates Corp increased its position in shares of Broadmark Realty Capital by 12.6% in the fourth quarter. Van ECK Associates Corp now owns 972,660 shares of the company valued at $9,172,000 after purchasing an additional 108,533 shares in the last quarter. Prairiewood Capital LLC increased its position in shares of Broadmark Realty Capital by 1.2% in the fourth quarter. Prairiewood Capital LLC now owns 349,500 shares of the company valued at $3,296,000 after purchasing an additional 4,160 shares in the last quarter. Autus Asset Management LLC acquired a new equity stake from Broadmark Realty Capital in the fourth quarter worth approximately $943,000. Finally, Koshinski Asset Management Inc. increased its position in Broadmark Realty Capital shares by 1.8% in the fourth quarter. Koshinski Asset Management Inc. now owns 72,325 shares of the company valued at $682,000 after purchasing an additional 1,281 shares in the last quarter. Institutional investors hold 48.33% of the company’s shares.
Separately, Zacks Investment Research upgraded Broadmark Realty Capital from a “hold” rating to a “buy” rating and set a price target of $10.00 for the company in a Tuesday, January 25 report. Two analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $10.00.
Shares of NYSE:BRMK traded at $0.18 in Monday’s midday session, hitting $9.38. 779,967 shares were traded, against an average volume of 977,512. Broadmark Realty Capital has a 52-week low of $8.85 and a 52-week high of $11.10. The company’s fifty-day simple moving average is $9.48 and its two-hundred-day simple moving average is $10.01. The company has a market capitalization of $1.24 billion, a PE ratio of 14.84 and a beta of 0.82.
Broadmark Realty Capital Inc (NYSE:BRMK) last released its results on Sunday, November 7. The company reported earnings per share of $0.18 for the quarter, missing Thomson Reuters consensus estimate of $0.20 per ($0.02). Broadmark Realty Capital had a net margin of 67.93% and a return on equity of 8.16%. During the same period of the previous year, the company achieved EPS of $0.18. On average, analysts expect Broadmark Realty Capital to post EPS of 0.75 for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Tuesday, February 15. Shareholders of record on Monday, January 31 will receive a dividend of $0.07 per share. The ex-dividend date is Friday, January 28. This represents an annualized dividend of $0.84 and a yield of 8.96%. Broadmark Realty Capital’s dividend payout ratio (DPR) is currently 135.48%.
Broadmark Realty Capital Company Profile
Broadmark Realty Capital Inc, together with its subsidiaries, engages in the underwriting, financing, servicing and management of a portfolio of short-term loans and first indenture to finance the construction, development and investment in residential or commercial properties in the United States. States. It also provides short-term loans and first deeds of trust secured by real estate to finance construction and development, investment in residential or commercial properties.
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