Granite Point Mortgage Trust (GPMT) Projected to Post Earnings on Thursday

Granite Point Mortgage Trust (NYSE:GPMT) is expected to be announcing its earnings results after the market closes on Thursday, February 13th. Analysts expect the company to announce earnings of ($0.73) per share and revenue of $9.71 million for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Granite Point Mortgage Trust Stock Performance

Granite Point Mortgage Trust stock opened at $3.05 on Tuesday. Granite Point Mortgage Trust has a 52 week low of $2.46 and a 52 week high of $5.36. The firm has a market capitalization of $152.12 million, a price-to-earnings ratio of -0.79 and a beta of 1.86. The company has a 50 day moving average price of $2.98 and a 200 day moving average price of $2.96.

Granite Point Mortgage Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.05 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.20 annualized dividend and a dividend yield of 6.57%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -5.18%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Granite Point Mortgage Trust in a research note on Friday, January 10th. Keefe, Bruyette & Woods upgraded shares of Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $3.00 to $3.25 in a report on Tuesday, December 10th. Finally, UBS Group upped their price objective on shares of Granite Point Mortgage Trust from $3.50 to $4.00 and gave the company a “buy” rating in a research note on Friday, November 15th.

About Granite Point Mortgage Trust

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.