Granite Point Mortgage Trust (GPMT) Projected to Post Earnings on Tuesday

Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) is anticipated to issue its Q1 2025 quarterly earnings data after the market closes on Tuesday, May 6th. Analysts expect Granite Point Mortgage Trust to post earnings of ($0.58) per share and revenue of $8.00 million for the quarter.

Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($1.99) EPS for the quarter, missing analysts' consensus estimates of ($0.73) by ($1.26). The business had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.90 million. Granite Point Mortgage Trust had a negative return on equity of 14.08% and a negative net margin of 111.59%.

Granite Point Mortgage Trust Price Performance

GPMT stock traded up $0.03 during trading on Friday, reaching $1.95. 274,421 shares of the company were exchanged, compared to its average volume of 430,428. Granite Point Mortgage Trust has a twelve month low of $1.61 and a twelve month high of $4.50. The company has a market capitalization of $94.15 million, a price-to-earnings ratio of -0.44 and a beta of 1.66. The company has a 50-day moving average of $2.35 and a two-hundred day moving average of $2.81.

Granite Point Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 10.28%. The ex-dividend date was Tuesday, April 1st. Granite Point Mortgage Trust's dividend payout ratio is currently -4.56%.

Analyst Upgrades and Downgrades

GPMT has been the subject of a number of analyst reports. UBS Group lowered their price objective on Granite Point Mortgage Trust from $3.50 to $2.50 and set a "buy" rating for the company in a research report on Wednesday, April 16th. JMP Securities restated a "market perform" rating on shares of Granite Point Mortgage Trust in a research report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Granite Point Mortgage Trust from $2.50 to $2.25 and set a "market perform" rating for the company in a research report on Wednesday.

Insiders Place Their Bets

In related news, Director Patrick Gregory Halter purchased 34,001 shares of Granite Point Mortgage Trust stock in a transaction that occurred on Tuesday, February 25th. The stock was bought at an average price of $2.80 per share, for a total transaction of $95,202.80. Following the completion of the transaction, the director now owns 34,001 shares in the company, valued at $95,202.80. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders purchased 34,770 shares of company stock valued at $108,849. Corporate insiders own 2.30% of the company's stock.

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.