Broadmark Realty Capital said on March 15, 2023 that its board of directors declared a regular monthly dividend of $0.04 per share ($0.42 annualized). Previously, the company paid $0.04 per share.
Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 14, 2023.
At the current share price of $4.51 / share, the stock's dividend yield is 9.31%. Looking back five years and taking a sample every week, the average dividend yield has been 9.45%, the lowest has been 6.94%, and the highest has been 21.99%. The standard deviation of yields is 3.12 (n=156).
The current dividend yield is 0.04 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.48. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.56%.
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Analyst Price Forecast Suggests 148.78% Upside
As of March 16, 2023, the average one-year price target for Broadmark Realty Capital is $11.22. The forecasts range from a low of $6.06 to a high of $16.80. The average price target represents an increase of 148.78% from its latest reported closing price of $4.51.
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The projected annual revenue for Broadmark Realty Capital is $111MM, an increase of 79.51%. The projected annual non-GAAP EPS is $0.54.
What is the Fund Sentiment?
There are 290 funds or institutions reporting positions in Broadmark Realty Capital. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to BRMK is 0.07%, a decrease of 24.94%. Total shares owned by institutions decreased in the last three months by 5.43% to 61,332K shares. The put/call ratio of BRMK is 0.79, indicating a bullish outlook.
What are Large Shareholders Doing?
Farallon Capital Management holds 4,850K shares representing 3.68% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,923K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 3,877K shares, representing an increase of 1.19%. The firm decreased its portfolio allocation in BRMK by 34.89% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 3,254K shares representing 2.47% ownership of the company. In it's prior filing, the firm reported owning 3,199K shares, representing an increase of 1.66%. The firm decreased its portfolio allocation in BRMK by 34.41% over the last quarter.
IWM - iShares Russell 2000 ETF holds 3,006K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 2,769K shares, representing an increase of 7.88%. The firm decreased its portfolio allocation in BRMK by 31.51% over the last quarter.
Washington Trust Bank holds 2,560K shares representing 1.94% ownership of the company. No change in the last quarter.
Broadmark Realty Capital Background Information
(This description is provided by the company.)
Broadmark Realty Capital Inc. is an internally managed commercial real estate finance company that offers short-term, first deed of trust loans secured by real estate to fund the acquisition, renovation, rehabilitation or development of residential or commercial properties. Broadmark Realty Capital manages and services its loan portfolio across a variety of market conditions and economic cycles.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
