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 brokerages have issued 1-year target prices for Granite Point Mortgage Trust's stock. Their GPMT share price forecasts range from $12.00 to $12.00. On average, they anticipate the company's share price to reach $12.00 in the next year. This suggests a possible upside of 48.1% 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 30.8% and is now trading at $8.10.
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Granite Point Mortgage Trust saw a decrease in short interest during the month of August. As of August 31st, there was short interest totaling 935,600 shares, a decrease of 9.2% from the August 15th total of 1,030,000 shares. Based on an average daily trading volume, of 345,200 shares, the short-interest ratio is currently 2.7 days. Approximately 1.8% of the company's stock are short sold.
View Granite Point Mortgage Trust's Short Interest.

The company 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) released its earnings results on Tuesday, May, 10th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Granite Point Mortgage Trust had a trailing twelve-month return on equity of 3.14% and a net margin of 8.89%. During the same period in the previous year, the business posted $0.36 earnings per share.

Granite Point Mortgage Trust declared a quarterly dividend on Tuesday, September 20th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.25 per share on Monday, October 17th. This represents a $1.00 annualized dividend and a dividend yield of 12.35%. The ex-dividend date of this dividend is Friday, September 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 11.79%. 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 666.67%. 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 116.28% 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 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 retail and institutional investors. Top institutional shareholders include State Street Corp (4.61%), Parallax Volatility Advisers L.P. (0.00%), Northern Trust Corp (1.09%), Principal Financial Group Inc. (0.62%), Epiq Partners LLC (0.57%) and Prudential Financial Inc. (0.47%). 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 $8.10.

Granite Point Mortgage Trust (NYSE:GPMT) has a market capitalization of $424.04 million and generates $198.29 million in revenue each year. The company earns $68.35 million in net income (profit) each year or $0.15 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.