Granite Point Mortgage Trust - GPMT Stock Forecast, Price & News

2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Granite Point Mortgage Trust in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" GPMT shares.
View GPMT analyst ratings or view top-rated stocks.

2 Wall Street research analysts have issued 1-year price targets for Granite Point Mortgage Trust's stock. Their GPMT share price forecasts range from $12.00 to $13.00. On average, they anticipate the company's stock price to reach $12.50 in the next year. This suggests a possible upside of 19.7% 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 $11.71 at the beginning of 2022. Since then, GPMT stock has decreased by 10.8% and is now trading at $10.44.
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Granite Point Mortgage Trust saw a drop in short interest in the month of July. As of July 15th, there was short interest totaling 1,070,000 shares, a drop of 15.7% from the June 30th total of 1,270,000 shares. Based on an average trading volume of 406,800 shares, the days-to-cover ratio is presently 2.6 days. Currently, 2.0% of the company's shares are sold short.
View Granite Point Mortgage Trust's Short Interest.

Granite Point Mortgage Trust is scheduled to release its next quarterly earnings announcement on Monday, November 14th 2022.
View our GPMT earnings forecast.

Granite Point Mortgage Trust Inc. (NYSE:GPMT) announced its quarterly earnings results on Tuesday, May, 10th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. Granite Point Mortgage Trust had a net margin of 23.50% and a trailing twelve-month return on equity of 3.28%. During the same quarter in the previous year, the firm earned $0.36 earnings per share.

Granite Point Mortgage Trust announced a quarterly dividend on Thursday, June 16th. Investors of record on Friday, July 1st will be paid a dividend of $0.25 per share on Friday, July 15th. This represents a $1.00 annualized dividend and a yield of 9.58%. The ex-dividend date of this dividend is Thursday, June 30th.
Read our dividend analysis for GPMT.

Granite Point Mortgage Trust (NYSE:GPMT) pays an annual dividend of $1.00 per share and currently has a dividend yield of 9.57%. GPMT has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 140.85%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, GPMT will have a dividend payout ratio of 96.15% in the coming year. This indicates that the company may not be able to sustain their current dividend.
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 IPO on Friday, June 23rd 2017. The company issued 10,000,000 shares at a price of $20.00-$21.00 per share. J.P. Morgan, Morgan Stanley, Citigroup and BofA Merrill Lynch acted 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 many different institutional and retail investors. Top institutional investors include Epiq Partners LLC (0.57%), Camelot Portfolios LLC (0.30%), Wiley BROS. Aintree Capital LLC (0.30%), State Board of Administration of Florida Retirement System (0.18%), Victory Capital Management Inc. (0.11%) and Yousif Capital Management LLC (0.08%). Insiders that own company stock include John A Taylor, John A Taylor, Marcin Urbaszek, Michael J Karber, 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 $10.44.

Granite Point Mortgage Trust (NYSE:GPMT) has a market capitalization of $562.26 million and generates $198.29 million in revenue each year. The company earns $68.35 million in net income (profit) each year or $0.71 on an earnings per share basis.

Granite Point Mortgage Trust employs 33 workers across the globe.

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.