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

Granite Point Mortgage Trust (NYSE:GPMT) is set to announce its 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. Individual interested in listening to the company’s earnings conference call can do so using this link.

Granite Point Mortgage Trust Stock Down 0.9 %

GPMT traded down $0.04 during trading on Tuesday, reaching $4.38. The stock had a trading volume of 69,869 shares, compared to its average volume of 402,051. The stock has a 50 day moving average of $4.60 and a two-hundred day moving average of $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 has a 1-year low of $3.97 and a 1-year high of $6.41.

Granite Point Mortgage Trust Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

Granite Point Mortgage Trust Company Profile

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.