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

Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) will release its earnings data 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. Persons that wish to register for the company's earnings conference call can do so using this link.

Granite Point Mortgage Trust Stock Down 3.1 %

Shares of GPMT traded down $0.13 during mid-day trading on Tuesday, hitting $4.29. 333,624 shares of the company's stock were exchanged, compared to its average volume of 405,210. Granite Point Mortgage Trust has a 52 week low of $3.97 and a 52 week high of $6.41. The stock's 50-day simple moving average is $4.60 and its 200-day simple moving average is $5.06. The firm has a market cap of $217.64 million, a price-to-earnings ratio of -2.94 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. Investors of record on Monday, April 1st were paid a $0.15 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.60 dividend on an annualized basis and a yield of 14.00%. Granite Point Mortgage Trust's dividend payout ratio (DPR) is -40.00%.

Analysts Set New Price Targets

GPMT has been the topic of a number of recent analyst reports. JMP Securities cut shares of Granite Point Mortgage Trust from an "outperform" rating to a "market perform" rating in a research note on Tuesday, February 20th. Raymond James decreased 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. UBS Group decreased their price objective on shares of Granite Point Mortgage Trust from $6.50 to $6.00 and set a "buy" rating on the stock in a research note on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Granite Point Mortgage Trust from $5.00 to $4.75 and set an "underperform" rating on the stock in a research note on Wednesday, April 10th.

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.