Granite Point Mortgage Trust (GPMT) Set to Announce Quarterly Earnings on Wednesday

Granite Point Mortgage Trust (NYSE:GPMT) is scheduled to announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of ($0.99) per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Granite Point Mortgage Trust Trading Down 2.8 %

Shares of NYSE GPMT opened at $2.95 on Wednesday. Granite Point Mortgage Trust has a twelve month low of $2.46 and a twelve month high of $6.41. The stock has a 50 day moving average of $2.87 and a two-hundred day moving average of $3.13. The stock has a market cap of $150.30 million, a P/E ratio of -1.27 and a beta of 1.79.

Granite Point Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 6.79%. The ex-dividend date of this dividend was Tuesday, October 1st. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -8.66%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods cut their price target on Granite Point Mortgage Trust from $3.25 to $2.75 and set an “underperform” rating for the company in a research note on Monday, August 12th.

Granite Point Mortgage Trust Company Profile

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.