Broadmark Realty Capital Inc. (BRMK) Tops Q4 EPS by 1c

Broadmark Realty Capital Inc. (NYSE: BRMK) reported Q4 EPS of $0.20, $0.01 better than the analyst estimate of $0.19. Revenue for the quarter came in at $32.5 million versus the consensus estimate of $30.6 million.

Jeff Pyatt, President and Chief Executive Officer of Broadmark, commented, “We were pleased to conclude the year with another quarter of accelerating originations and risk reducing amendments, that reached over $190 million in total commitments. Within our current markets and beyond, we see ongoing opportunity to expand our reach and gain market share in the highly fragmented specialty residential lending industry. Our market fundamentals remain highly attractive, with sustained population inflows and present housing deficits leading to significant and growing demand for construction, which in turn drives demand for our loans. With our substantial liquidity and new revolving credit facility for cash management, we are well positioned to deploy our capital to meet that demand.”

“Despite the challenges of 2020, we believe we executed exceptionally well, supported by our best-in-class balance sheet, disciplined underwriting, and, most of all, the hard work and dedication of our team. We look forward to building on our success in 2021 and beyond, growing our reputation as a lender of choice and creating additional value for our stockholders,” Mr. Pyatt concluded.

For earnings history and earnings-related data on Broadmark Realty Capital Inc. (BRMK) click here.

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