The Vanguard Group, Inc. recently announced the acquisition of new stake in Broadmark Realty Capital Inc. (NYSE:BRMK). The institutional investor has increased its shareholding in the Real Estate company by 1.97% to 12.26 million shares with purchase of 0.24 million shares. This fresh investment now brings its stake to 9.31% valued currently at $62.5 million. In addition, Geode Capital Management LLC raised its holdings by 63194.0 to 2.46 million shares.
With over 3.19 million Broadmark Realty Capital Inc. (BRMK) shares trading Monday and a closing price of $4.59 on the day, the dollar volume was approximately $14.65 million. The shares have shown a negative half year performance of -27.49% and its price on 03/13/23 lost nearly -2.55%. Currently, there are 132.76M common shares owned by the public and among those 127.27M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for BRMK have a consensus price objective of $5.50. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $5.00. The average price target is 58.27% above its recent price level and an upside to the estimated low will see the stock gain 8.2% over that period. But an upside of 23.5% will see the stock hit the forecast high price target while median target price for the stock is $5.50.
Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 551,821 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 19,129 shares.
The top 3 mutual fund holders in Broadmark Realty Capital Inc. are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 3.92 million shares of the company’s stock, all valued at over $20.01 million. Vanguard Small Cap Index Fund bought 17828.0 shares to see its total holdings expand to 3.27 million shares valued at over $16.69 million and representing 2.49% of the shares outstanding. iShares Russell 2000 ETF sold 8982.0 shares to bring its total holdings to over 2.84 million shares at a value of $14.49 million. iShares Russell 2000 ETF now owns shares totaling to 2.16% of the shares outstanding.
Shares of Broadmark Realty Capital Inc. (NYSE: BRMK) opened at $4.65, down -$0.06 from a prior closing price of $4.71. However, the script later moved the day high at 4.6500, down -2.55%. The company’s stock has a 5-day price change of -9.29% and 20.16% over the past three months. BRMK shares are trading 28.93% year to date (YTD), with the 12-month market performance down to -44.36% lower. It has a 12-month low price of $3.52 and touched a high of $8.91 over the same period. BRMK has an average intraday trading volume of 1.81 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.08%, 5.75%, and -17.25% respectively.
Institutional ownership of Broadmark Realty Capital Inc. (NYSE: BRMK) shares accounts for 47.50% of the company’s 132.76M shares outstanding. Mutual fund holders own 23.62%, while other institutional holders and individual stakeholders account for 5.03% and 21.49% respectively.
It has a market capitalization of $636.86M and a beta (3y monthly) value of 0.95. The earnings-per-share (ttm) stands at -$0.88. The company has a debt-to-equity ratio at 0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.31% over the week and 3.32% over the month.
Analysts forecast that Broadmark Realty Capital Inc. (BRMK) will achieve an EPS of $0.12 for the current quarter, $0.11 for the next quarter and $0.48 for 2023. The lowest estimate earnings-per-share for the quarter is $0.1 while analysts give the company a high EPS estimate of $0.13. Comparatively, EPS for the current quarter was $0.18 a year ago. Earnings per share for the fiscal year are expected to decrease by -240.90%, and 42.86% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Broadmark Realty Capital Inc. (BRMK) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 5 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
B. Riley Securities coverage for the Broadmark Realty Capital Inc. (BRMK) stock in a research note released on November 21, 2022 offered a Neutral rating with a price target of $5. Raymond James was of a view on November 08, 2022 that the stock is Mkt Perform, while Piper Sandler gave the stock Underweight rating on August 09, 2022, issuing a price target of $7. Piper Sandler on their part issued Neutral rating on June 17, 2022.
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