5 Monthly Dividend Stocks with Over 5% Yield

3. Broadmark Realty Capital Inc. (NYSE:BRMK)

Dividend Yield as of July 8: 12.33%

Broadmark Realty Capital Inc. (NYSE:BRMK) is a Washington-based specialty real estate investment trust that provides financing solutions to consumers.

In 2020, Broadmark Realty Capital Inc. (NYSE:BRMK) had to trim its dividend by 25% to $0.06 per share due to the global market crash. Since then, the company has raised its monthly dividend by a penny to $0.07 per share in 2021, with a yield of 12.33%, as of July 8. In Q1 2022, Broadmark Realty Capital Inc. (NYSE:BRMK) paid nearly $9.3 million in dividends to shareholders, almost in line with its previous quarter’s payments. The company’s balance sheet signals another dividend cut, as its dividend payments accounted for 140% of its income in Q1, compared with a 120% payout ratio in Q4 2021.

In June, Piper Sandler initiated its coverage of Broadmark Realty Capital Inc. (NYSE:BRMK) with a Neutral rating and a $7 price target, calling the stock a long-term opportunity due to the global supply and demand imbalance.

As per Insider Monkey’s Q1 2022 data, 7 hedge funds reported owning stakes in Broadmark Realty Capital Inc. (NYSE:BRMK), down from 11 in the previous quarter. These stakes hold a consolidated value of over $50 million. Farallon Capital was the company’s leading shareholder in Q1, owning shares worth nearly 5 million.