Granite Point Mortgage Trust (GPMT) to Release Earnings on Tuesday

Granite Point Mortgage Trust (NYSE:GPMT) will post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Granite Point Mortgage Trust to post earnings of $0.10 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Granite Point Mortgage Trust Stock Up 2.3 %

Shares of NYSE:GPMT opened at $4.42 on Friday. Granite Point Mortgage Trust has a 52-week low of $3.97 and a 52-week high of $6.41. The company has a 50 day moving average of $4.58 and a two-hundred day moving average of $5.05. The company has a market capitalization of $224.49 million, a price-to-earnings ratio of -2.95 and a beta of 1.80.

Granite Point Mortgage Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 13.57%. The ex-dividend date of this dividend was Thursday, March 28th. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is -40.00%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. UBS Group lowered their price objective on shares of Granite Point Mortgage Trust from $6.50 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, March 20th. Raymond James reduced their price objective on shares of Granite Point Mortgage Trust from $7.00 to $6.50 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Keefe, Bruyette & Woods dropped their target price on shares of Granite Point Mortgage Trust from $5.00 to $4.75 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. Finally, JMP Securities cut shares of Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 20th.

About Granite Point Mortgage Trust

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.