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

Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) is expected to be issuing its Q1 2025 quarterly earnings data after the market closes on Tuesday, May 6th. Analysts expect the company to announce 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 announced its quarterly earnings data on Thursday, February 13th. The company reported ($1.99) earnings per share for the quarter, missing analysts' consensus estimates of ($0.73) by ($1.26). Granite Point Mortgage Trust had a negative net margin of 111.59% and a negative return on equity of 14.08%. The firm had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.90 million.

Granite Point Mortgage Trust Stock Down 2.3 %

Shares of Granite Point Mortgage Trust stock traded down $0.05 during mid-day trading on Thursday, hitting $1.93. The stock had a trading volume of 210,025 shares, compared to its average volume of 429,911. The firm has a 50-day moving average of $2.36 and a two-hundred day moving average of $2.82. Granite Point Mortgage Trust has a 12-month low of $1.61 and a 12-month high of $4.50. The firm has a market cap of $93.18 million, a P/E ratio of -0.44 and a beta of 1.46.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.20 dividend on an annualized basis and a yield of 10.39%. Granite Point Mortgage Trust's dividend payout ratio (DPR) is presently -4.56%.

Insider Buying and Selling at Granite Point Mortgage Trust

In related news, Director Patrick Gregory Halter bought 34,001 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was bought at an average price of $2.80 per share, with a total value of $95,202.80. Following the completion of the transaction, the director now directly owns 34,001 shares of the company's stock, valued at approximately $95,202.80. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 34,770 shares of company stock valued at $108,849. Company insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JMP Securities restated a "market perform" rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th. Keefe, Bruyette & Woods cut their price target on Granite Point Mortgage Trust from $2.50 to $2.25 and set a "market perform" rating for the company in a report on Wednesday. Finally, 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.

Granite Point Mortgage Trust Company Profile

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.