BRMK - Broadmark Realty Capital: Unsustainable Dividend Policy Without Loan Portfolio Growth
- Broadmark doesn’t seem to have a sustainable dividend policy.
- Our valuation points to a downside vs current market value.
- We think Broadmark has potential to reshape its business and afford to sustain its dividend policy should it succeed in increasing its loan portfolio.
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Broadmark Realty Capital: Unsustainable Dividend Policy Without Loan Portfolio Growth