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

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Granite Point Mortgage Trust in the last twelve months. There are currently 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" Granite Point Mortgage Trust stock.
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2 equities research analysts have issued 12 month price targets for Granite Point Mortgage Trust's shares. Their GPMT stock forecasts range from $12.00 to $13.00. On average, they anticipate Granite Point Mortgage Trust's stock price to reach $12.50 in the next year. This suggests a possible upside of 21.0% from the stock's current price.
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Granite Point Mortgage Trust's stock was trading at $11.71 at the beginning of the year. Since then, GPMT shares have decreased by 11.8% and is now trading at $10.33.
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Granite Point Mortgage Trust saw a drop in short interest in 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 daily trading volume, of 406,800 shares, the short-interest ratio is presently 2.6 days. Currently, 2.0% of the shares of the company 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, August 8th 2022.
View our earnings forecast for Granite Point Mortgage Trust.

Granite Point Mortgage Trust will be holding an earnings conference call on Tuesday, August 9th at 11:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 412-317-0088 with passcode "6828661".

Granite Point Mortgage Trust Inc. (NYSE:GPMT) posted its 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 trailing twelve-month return on equity of 3.28% and a net margin of 23.50%. During the same quarter in the previous year, the firm earned $0.36 earnings per share.

Granite Point Mortgage Trust declared a quarterly dividend on Thursday, June 16th. Investors of record on Friday, July 1st will be given a dividend of $0.25 per share on Friday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 9.68%. The ex-dividend date is Thursday, June 30th.
View Granite Point Mortgage Trust's dividend history.

Granite Point Mortgage Trust(NYSE:GPMT) pays an annual dividend of $1.00 per share and currently has a dividend yield of 9.68%. GPMT has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. Granite Point Mortgage Trust does not yet have a strong track record of dividend growth. The dividend payout ratio of Granite Point Mortgage Trust is 140.85%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, Granite Point Mortgage Trust will have a dividend payout ratio of 96.15% in the coming year. This indicates that Granite Point Mortgage Trust may not be able to sustain their current dividend.
View Granite Point Mortgage Trust's dividend history.

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 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 a number of 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%). Company insiders that own Granite Point Mortgage Trust stock include John A Taylor, John A Taylor, Marcin Urbaszek, Michael J Karber, Rebecca B Sandberg, Stephen Alpart, Steven Plust and William Reid Sanders.
View institutional ownership trends for Granite Point Mortgage Trust.

Shares of GPMT 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 $10.33.

Granite Point Mortgage Trust (NYSE:GPMT) has a market capitalization of $556.37 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 Granite Point Mortgage Trust is www.gpmortgagetrust.com. The company can be reached via phone at (212) 364-5500 or via email at investors@gpmortgagetrust.com.