Granite Point Mortgage Trust (GPMT) Expected to Announce Quarterly Earnings on Thursday

Granite Point Mortgage Trust (NYSE:GPMT) will likely be announcing its earnings results after the market closes on Thursday, February 13th. Analysts expect the company to announce earnings of ($0.73) per share and revenue of $9.71 million for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Granite Point Mortgage Trust Stock Performance

Granite Point Mortgage Trust stock opened at $3.07 on Wednesday. Granite Point Mortgage Trust has a 52 week low of $2.46 and a 52 week high of $5.36. The firm has a market cap of $153.38 million, a P/E ratio of -0.80 and a beta of 1.86. The business’s fifty day moving average is $2.97 and its two-hundred day moving average is $2.96.

Granite Point Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.20 annualized dividend and a yield of 6.51%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is -5.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods raised shares of Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $3.00 to $3.25 in a research note on Tuesday, December 10th. UBS Group boosted their price objective on shares of Granite Point Mortgage Trust from $3.50 to $4.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, JMP Securities reiterated a “market perform” rating on shares of Granite Point Mortgage Trust in a research report on Friday, January 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.