Broadmark Realty Capital (NYSE:BRMK) Stock Rating Upgraded by Zacks Investment Research

Broadmark Realty Capital (NYSE:BRMKGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, 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. “

Separately, Raymond James cut their target price on shares of Broadmark Realty Capital from $12.50 to $11.00 and set an “outperform” rating for the company in a research report on Wednesday, March 2nd.

NYSE:BRMK opened at $8.14 on Tuesday. The stock has a market capitalization of $1.08 billion, a PE ratio of 13.13 and a beta of 0.81. The firm’s 50 day moving average is $8.34 and its 200 day moving average is $9.14. Broadmark Realty Capital has a 12 month low of $7.72 and a 12 month high of $11.10.

Broadmark Realty Capital (NYSE:BRMKGet Rating) last issued its earnings results on Monday, February 28th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). Broadmark Realty Capital had a net margin of 68.43% and a return on equity of 8.04%. During the same quarter in the prior year, the firm posted $0.19 EPS. As a group, sell-side analysts anticipate that Broadmark Realty Capital will post 0.87 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Riverview Trust Co purchased a new stake in Broadmark Realty Capital in the first quarter worth approximately $25,000. Signaturefd LLC boosted its holdings in Broadmark Realty Capital by 559.8% in the first quarter. Signaturefd LLC now owns 3,385 shares of the company’s stock worth $29,000 after purchasing an additional 2,872 shares during the last quarter. CWM LLC boosted its holdings in Broadmark Realty Capital by 397.6% in the first quarter. CWM LLC now owns 3,916 shares of the company’s stock worth $34,000 after purchasing an additional 3,129 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in Broadmark Realty Capital in the fourth quarter worth approximately $104,000. Finally, Hsbc Holdings PLC bought a new position in Broadmark Realty Capital in the third quarter worth approximately $144,000. 48.37% of the stock is owned by institutional investors and hedge funds.

Broadmark Realty Capital Company Profile (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.

Recommended Stories

Get a free copy of the Zacks research report on Broadmark Realty Capital (BRMK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Broadmark Realty Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadmark Realty Capital and related companies with MarketBeat.com's FREE daily email newsletter.