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. As of December 31, 2021, its investment portfolio includes 105 commercial real estate loan investments. Granite Point Mortgage Trust Inc. was founded in 2015 and is headquartered in New York, New York.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. Credit Suisse Group reduced their target price on Granite Point Mortgage Trust to $12.00 in a research note on Friday, July 22nd. JMP Securities reduced their target price on Granite Point Mortgage Trust from $15.00 to $13.00 and set a "market outperform" rating on the stock in a research note on Friday, June 17th.
Granite Point Mortgage Trust Trading Down 0.1 %
Shares of Granite Point Mortgage Trust stock opened at $10.44 on Wednesday. The firm has a market cap of $562.26 million, a P/E ratio of 14.70 and a beta of 1.36. Granite Point Mortgage Trust has a 12 month low of $8.81 and a 12 month high of $14.10. The stock's fifty day moving average price is $10.05 and its 200-day moving average price is $10.56.
Granite Point Mortgage Trust (NYSE:GPMT - Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Granite Point Mortgage Trust had a return on equity of 3.28% and a net margin of 23.50%. During the same quarter last year, the company earned $0.36 EPS. Analysts forecast that Granite Point Mortgage Trust will post 0.61 earnings per share for the current year.
Granite Point Mortgage Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.58%. The ex-dividend date of this dividend was Thursday, June 30th. Granite Point Mortgage Trust's payout ratio is currently 140.85%.