Granite Point Mortgage Trust (GPMT) to Release Quarterly Earnings on Monday

Granite Point Mortgage Trust (NYSE:GPMTGet Rating) is scheduled to be releasing its earnings data after the market closes on Monday, August 8th. Analysts expect Granite Point Mortgage Trust to post earnings of $0.22 per share 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 (NYSE:GPMTGet Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Granite Point Mortgage Trust had a return on equity of 3.28% and a net margin of 23.50%. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, analysts expect Granite Point Mortgage Trust to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Granite Point Mortgage Trust Stock Performance

GPMT stock opened at $10.33 on Friday. The stock has a 50-day moving average price of $10.07 and a two-hundred day moving average price of $10.59. The stock has a market cap of $556.33 million, a PE ratio of 14.55 and a beta of 1.36. Granite Point Mortgage Trust has a 1 year low of $8.81 and a 1 year high of $14.32.

Granite Point Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.68%. The ex-dividend date of this dividend was Thursday, June 30th. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently 140.85%.

Hedge Funds Weigh In On Granite Point Mortgage Trust

Several hedge funds have recently modified their holdings of GPMT. Guggenheim Capital LLC bought a new position in shares of Granite Point Mortgage Trust in the 1st quarter valued at about $144,000. Hsbc Holdings PLC lifted its stake in Granite Point Mortgage Trust by 38.2% in the 1st quarter. Hsbc Holdings PLC now owns 15,687 shares of the company’s stock valued at $175,000 after purchasing an additional 4,338 shares during the last quarter. Penserra Capital Management LLC lifted its stake in Granite Point Mortgage Trust by 29.0% in the 1st quarter. Penserra Capital Management LLC now owns 23,385 shares of the company’s stock valued at $260,000 after purchasing an additional 5,256 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Granite Point Mortgage Trust by 100.7% in the 1st quarter. MetLife Investment Management LLC now owns 24,998 shares of the company’s stock valued at $278,000 after purchasing an additional 12,541 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Granite Point Mortgage Trust by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,371 shares of the company’s stock valued at $516,000 after purchasing an additional 5,717 shares during the last quarter. Institutional investors own 61.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GPMT. JMP Securities lowered their target price on Granite Point Mortgage Trust from $15.00 to $13.00 and set a “market outperform” rating for the company in a report on Friday, June 17th. Credit Suisse Group decreased their price objective on Granite Point Mortgage Trust to $12.00 in a report on Friday, July 22nd.

Granite Point Mortgage Trust Company Profile

(Get Rating)

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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Earnings History for Granite Point Mortgage Trust (NYSE:GPMT)

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