Granite Point Mortgage Trust (GPMT) Scheduled to Post Quarterly Earnings on Tuesday

Granite Point Mortgage Trust (NYSE:GPMT) is set to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Granite Point Mortgage Trust to post earnings of $0.10 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Granite Point Mortgage Trust Stock Performance

Shares of NYSE GPMT traded down $0.04 during trading on Tuesday, hitting $4.38. 69,869 shares of the company traded hands, compared to its average volume of 402,051. Granite Point Mortgage Trust has a fifty-two week low of $3.97 and a fifty-two week high of $6.41. The business’s fifty day moving average is $4.60 and its 200 day moving average is $5.06. The firm has a market capitalization of $222.46 million, a price-to-earnings ratio of -2.94 and a beta of 1.80.

Granite Point Mortgage Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.60 annualized dividend and a yield of 13.70%. Granite Point Mortgage Trust’s payout ratio is -40.00%.

Wall Street Analyst Weigh In

A number of analysts have commented on GPMT shares. Keefe, Bruyette & Woods decreased their price objective on Granite Point Mortgage Trust from $5.00 to $4.75 and set an “underperform” rating for the company in a report on Wednesday, April 10th. UBS Group decreased their price target on Granite Point Mortgage Trust from $6.50 to $6.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. JMP Securities cut Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 20th. Finally, Raymond James cut their price objective on shares of Granite Point Mortgage Trust from $7.00 to $6.50 and set an “outperform” rating on the stock in a report on Friday, February 16th.

About Granite Point Mortgage Trust

Granite Point Mortgage Trust Inc, a real estate investment trust, originates, invests in, and manages senior floating-rate commercial mortgage loans, and other debt and debt-like commercial real estate investments in the United States. The company provides intermediate-term bridge or transitional financing for various purposes, including acquisitions, recapitalizations, and refinancing, as well as a range of business plans, including lease-up, renovation, repositioning, and repurposing of the commercial property.