Granite Point Mortgage Trust (GPMT) Stock Price, News & Analysis

Company Overview

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. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 2015 and is headquartered in New York, New York.

Key Stats

• Today's Range: $3.22 to $3.42
• 50-Day Range: $2.56 to $3.39
• 52-Week Range: $2.46 to $6.41
• Volume: 471,325 shs
• Average Volume: 412,203 shs
• Market Capitalization: $162.87 million
• P/E Ratio: N/A
• Dividend Yield: 6.13%
• Price Target: $4.50
• Consensus Rating: Hold

Granite Point Mortgage Trust Stock Analysis - MarketRank™

Granite Point Mortgage Trust scored higher than 74% of companies evaluated by MarketBeat, and ranked 373rd out of 963 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.1 / 5
• Analyst Rating: Hold

Consensus Rating

Granite Point Mortgage Trust has received a consensus rating of Hold. The company's average rating score is 2.25, and is based on 2 buy ratings, 1 hold rating, and 1 sell rating.

Amount of Analyst Coverage

Granite Point Mortgage Trust has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.3 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Granite Point Mortgage Trust are expected to grow in the coming year, from ($2.38) to ($1.82) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Granite Point Mortgage Trust is -0.84, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Granite Point Mortgage Trust is -0.84, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Granite Point Mortgage Trust has a P/B Ratio of 0.24. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

2.57% of the float of Granite Point Mortgage Trust has been sold short.

Short Interest Ratio / Days to Cover

Granite Point Mortgage Trust has a short interest ratio ("days to cover") of 3.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Granite Point Mortgage Trust has recently decreased by 11.35%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Leadership

Granite Point Mortgage Trust is a leading dividend payer. It pays a dividend yield of 6.13%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Granite Point Mortgage Trust does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

2.57% of the float of Granite Point Mortgage Trust has been sold short.

Short Interest Ratio / Days to Cover

Granite Point Mortgage Trust has a short interest ratio ("days to cover") of 3.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Granite Point Mortgage Trust has recently decreased by 11.35%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 2.9 / 5
• News Sentiment: 1.13

News Sentiment

Granite Point Mortgage Trust has a news sentiment score of 1.13. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.68 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 6 news articles for Granite Point Mortgage Trust this week, compared to 1 article on an average week.

Company Ownership

• Score: 0.8 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Granite Point Mortgage Trust insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 2.30% of the stock of Granite Point Mortgage Trust is held by insiders.

Percentage Held by Institutions

51.63% of the stock of Granite Point Mortgage Trust is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

GPMT Stock Analysis - Frequently Asked Questions

How have GPMT shares performed this year?

Granite Point Mortgage Trust's stock was trading at $5.94 at the start of the year. Since then, GPMT shares have decreased by 45.1% and is now trading at $3.26.
View the best growth stocks for 2024 here.

How were Granite Point Mortgage Trust's earnings last quarter?

Granite Point Mortgage Trust Inc. (NYSE:GPMT) posted its quarterly earnings results on Friday, February, 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by $0.35. The company earned $61.42 million during the quarter, compared to analyst estimates of $19.40 million. Granite Point Mortgage Trust had a negative net margin of 87.21% and a positive trailing twelve-month return on equity of 0.95%.

When did Granite Point Mortgage Trust IPO?

Granite Point Mortgage Trust (GPMT) raised $205 million in an initial public offering (IPO) on Friday, June 23rd 2017. The company issued 10,000,000 shares at $20.00-$21.00 per share. J.P. Morgan, Morgan Stanley, Citigroup and BofA Merrill Lynch served as the underwriters for the IPO and JMP Securities and Keefe, Bruyette & Woods (a Stifel Company) were co-managers.

Who are Granite Point Mortgage Trust's major shareholders?

Granite Point Mortgage Trust's top institutional shareholders include Hotchkis & Wiley Capital Management LLC (2.66%), Geode Capital Management LLC (2.36%), State Street Corp (2.17%) and Charles Schwab Investment Management Inc. (1.60%). Insiders that own company stock include John A Taylor, Stephen G Kasnet and Marcin Urbaszek.
View institutional ownership trends.

How do I buy shares of Granite Point Mortgage Trust?

Shares of GPMT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Granite Point Mortgage Trust own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Granite Point Mortgage Trust investors own include Rithm Capital (RITM), AGNC Investment (AGNC), Two Harbors Investment (TWO), Prospect Capital (PSEC), AT&T (T), Verizon Communications (VZ) and Annaly Capital Management (NLY).

Company Calendar

• Last Earnings: 2/24/2023
• Ex-Dividend for 10/15 Dividend: 10/01/2024
• Dividend Payable: 10/15/2024
• Today: 11/17/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/12/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: Real estate investment trusts
• Sub-Industry: Trading
• Current Symbol: NYSE:GPMT
• Previous Symbol: NASDAQ:GPMT
• CUSIP: N/A
• CIK: 1703644
• Web: www.gpmortgagetrust.com
• Phone: (212) 364-5500
• Fax: N/A
• Employees: 30
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $4.50
• High Stock Price Target: $6.50
• Low Stock Price Target: $3.00
• Potential Upside/Downside: +38.0%
• Consensus Rating: Hold
• Rating Score (0-4): 2.25
• Research Coverage: 4 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($3.86)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-63,200,000.00
• Net Margins: -87.21%
• Pretax Margin: -87.21%
• Return on Equity: 0.95%
• Return on Assets: 0.27%

Debt

• Debt-to-Equity Ratio: 1.35
• Current Ratio: N/A
• Quick Ratio: N/A

Sales & Book Value

• Annual Sales: $263.73 million
• Price / Sales: 0.62
• Cash Flow: $0.93 per share
• Price / Cash Flow: 3.50
• Book Value: $13.37 per share
• Price / Book: 0.24

Miscellaneous

• Outstanding Shares: 49,960,000
• Free Float: 48,809,000
• Market Cap: $162.87 million
• Optionable: Optionable
• Beta: 1.79