BRMK - Broadmark Realty Capital Q2 earnings miss in backdrop of rising yields inflation

• Broadmark Realty Capital ( NYSE: BRMK ) Q2 earnings came in worse-than-expected Monday as the mortgage REIT remained "selective and disciplined with our underwriting" in a backdrop of rising yields and persistently high inflation, said CEO Brain Ward in a statement.
• Shares of BRMK, meanwhile, edged up 0.3% in after-hours trading.
• Distributable EPS of $0.16 at the end of June missed the average analyst estimate of $0.17 and decreased from $0.18 at June 30, 2021.
• Revenue of $28.5M also fell short of the consensus of $30M and fell from $29.2M a year ago, driven by a slump in fee income.
• Q2 net provision for credit losses jumped to $2.7M from $58K in Q2 2021.
• Earlier, Broadmark Realty Capital Q2 originations and amendments were $196.7M .

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