BRMK - Broadmark Realty Q4 earnings miss; sees near-term impact from competition

Broadmark Realty Capital (NYSE:BRMK) stock is slipping 2.1% in after-hours trading after Q4 earnings and revenue fell short of Wall Street estimates. Q4 distributable EPS of $0.18 missed the average analyst estimate of $0.21 and fell from $0.19 in Q3 2021 and $0.20 in Q4 2020. "In addition to expanding into new geographic markets, we have continued to use our increased size, scale, and expertise to access a larger pool of borrowers with excellent credit and collateral, Broadmark (BRMK) CEO Jeff Pyatt said. "While we will disciplined with our underwriting to ensure strong credit quality, we understand competitive conditions will have a near-term impact." Q4 new originations and amendments totaled $248.6M with a weighted average loan to value of 51.1% compared with Q3 originations and amendments of $337.0M with a weighted average loan to value of 59.0%. Q4 total revenue of $31.3M trailed the consensus estimate of $33.6M and increased from

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Broadmark Realty Q4 earnings miss; sees near-term impact from competition