Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($1.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($1.26), Zacks reports. The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.90 million. Granite Point Mortgage Trust had a positive return on equity of 0.95% and a negative net margin of 87.21%.
Granite Point Mortgage Trust Price Performance
Shares of Granite Point Mortgage Trust stock traded down $0.30 during trading on Monday, hitting $2.90. The company's stock had a trading volume of 930,066 shares, compared to its average volume of 296,007. Granite Point Mortgage Trust has a 52 week low of $2.46 and a 52 week high of $5.01. The stock has a market cap of $144.63 million, a price-to-earnings ratio of -0.75 and a beta of 1.86. The stock has a 50-day moving average price of $2.95 and a two-hundred day moving average price of $2.96.
Granite Point Mortgage Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.05 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.20 annualized dividend and a dividend yield of 6.91%. Granite Point Mortgage Trust's dividend payout ratio is -5.18%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on GPMT. Keefe, Bruyette & Woods upgraded shares of Granite Point Mortgage Trust from an "underperform" rating to a "market perform" rating and upped their price target for the stock from $3.00 to $3.25 in a report on Tuesday, December 10th. JMP Securities reiterated a "market perform" rating on shares of Granite Point Mortgage Trust in a report on Friday, January 10th. Finally, UBS Group upped their price target 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.
Read Our Latest Stock Report on GPMT
Granite Point Mortgage Trust Company Profile
(
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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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