Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) 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 wish to register for the company's earnings conference call can do so using this link.
Granite Point Mortgage Trust Stock Performance
GPMT traded up $0.05 during trading on Thursday, hitting $3.02. 277,178 shares of the stock were exchanged, compared to its average volume of 337,749. The firm has a 50 day simple moving average of $3.01 and a 200 day simple moving average of $2.97. The firm has a market cap of $150.62 million, a price-to-earnings ratio of -0.78 and a beta of 1.86. Granite Point Mortgage Trust has a 1 year low of $2.46 and a 1 year high of $5.48.
Granite Point Mortgage Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.20 annualized dividend and a dividend yield of 6.63%. Granite Point Mortgage Trust's dividend payout ratio is currently -5.18%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on GPMT. UBS Group increased their target price on shares of Granite Point Mortgage Trust from $3.50 to $4.00 and gave the stock a "buy" rating in a report on Friday, November 15th. JMP Securities reiterated a "market perform" rating on shares of Granite Point Mortgage Trust in a research note on Friday, January 10th. Finally, Keefe, Bruyette & Woods raised shares of Granite Point Mortgage Trust from an "underperform" rating to a "market perform" rating and lifted their price objective for the company from $3.00 to $3.25 in a report on Tuesday, December 10th.
View Our Latest Stock Report on Granite Point Mortgage Trust
About Granite Point Mortgage Trust
(
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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.
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