Granite Point Mortgage Trust (GPMT) Stock Forecast, Price & News

3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Granite Point Mortgage Trust in the last twelve months. There are currently 1 sell rating and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" GPMT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GPMT, but not buy additional shares or sell existing shares.
View GPMT analyst ratings or view top-rated stocks.

3 brokers have issued 1 year target prices for Granite Point Mortgage Trust's shares. Their GPMT share price forecasts range from $6.00 to $10.00. On average, they predict the company's stock price to reach $8.25 in the next twelve months. This suggests a possible upside of 64.7% from the stock's current price.
View analysts price targets for GPMT or view top-rated stocks among Wall Street analysts.

Granite Point Mortgage Trust's stock was trading at $5.36 on January 1st, 2023. Since then, GPMT stock has decreased by 6.5% and is now trading at $5.01.
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Granite Point Mortgage Trust saw a decrease in short interest in the month of April. As of April 30th, there was short interest totaling 891,300 shares, a decrease of 18.2% from the April 15th total of 1,090,000 shares. Based on an average daily volume of 1,060,000 shares, the short-interest ratio is currently 0.8 days. Currently, 1.7% of the company's shares are sold short.
View Granite Point Mortgage Trust's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Monday, August 14th 2023.
View our GPMT earnings forecast.

Granite Point Mortgage Trust Inc. (NYSE:GPMT) issued its quarterly earnings data on Friday, February, 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.35. The firm had revenue of $61.42 million for the quarter, compared to analysts' expectations of $19.40 million. Granite Point Mortgage Trust had a positive trailing twelve-month return on equity of 3.08% and a negative net margin of 34.44%.

Granite Point Mortgage Trust announced a quarterly dividend on Thursday, March 16th. Investors of record on Monday, April 3rd will be paid a dividend of $0.20 per share on Monday, April 17th. This represents a $0.80 annualized dividend and a yield of 15.97%. The ex-dividend date of this dividend is Friday, March 31st.
Read our dividend analysis for GPMT.

ETFs with the largest weight of Granite Point Mortgage Trust (NYSE:GPMT) stock in their portfolio include Hoya Capital High Dividend Yield ETF (RIET) and iShares Mortgage Real Estate Capped ETF (REM).First Trust Dow Jones Select Microcap Index Fund (FDM).

Granite Point Mortgage Trust (NYSE:GPMT) pays an annual dividend of $0.80 per share and currently has a dividend yield of 15.78%. GPMT has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer.
Read our dividend analysis for GPMT.

Based on aggregate information from My MarketBeat watchlists, some companies that other Granite Point Mortgage Trust investors own include Two Harbors Investment (TWO), Prospect Capital (PSEC), Chembio Diagnostics (CEMI), New Residential Investment (NRZ), Energy Transfer (ET), Calumet Specialty Products Partners (CLMT), New York Mortgage Trust (NYMT), Washington Prime Group (WPG), Invesco Mortgage Capital (IVR) and Annaly Capital Management (NLY).

(GPMT) raised $205 million in an initial public offering (IPO) on Friday, June 23rd 2017. The company issued 10,000,000 shares at $20.00-$21.00 per share. J.P. Morgan, Morgan Stanley, Citigroup and BofA Merrill Lynch served as the underwriters for the IPO and JMP Securities and Keefe, Bruyette & Woods (a Stifel Company) were co-managers.

Granite Point Mortgage Trust trades on the New York Stock Exchange (NYSE) under the ticker symbol "GPMT."

Granite Point Mortgage Trust's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (8.15%), State Street Corp (2.84%), Geode Capital Management LLC (2.01%), Relative Value Partners Group LLC (1.42%), Arete Wealth Advisors LLC (1.18%) and Arete Wealth Advisors LLC (1.18%). Insiders that own company stock include John A Taylor, John A Taylor, Marcin Urbaszek, Rebecca B Sandberg, Stephen Alpart, Steven Plust and William Reid Sanders.
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Shares of GPMT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GPMT stock can currently be purchased for approximately $5.01.

Granite Point Mortgage Trust (NYSE:GPMT) has a market capitalization of $258.17 million and generates $210.85 million in revenue each year. The company earns $-40,830,000.00 in net income (profit) each year or ($1.79) on an earnings per share basis.

Granite Point Mortgage Trust's mailing address is 3 Bryant Park Suite 2400A, NEW YORK NY, 10036. The official website for the company is www.gpmortgagetrust.com. The company can be reached via phone at (212) 364-5500 or via email at investors@gpmortgagetrust.com.