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

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

Granite Point Mortgage Trust Stock Performance

Granite Point Mortgage Trust stock opened at $2.95 on Wednesday. The firm has a market capitalization of $150.30 million, a price-to-earnings ratio of -1.27 and a beta of 1.79. Granite Point Mortgage Trust has a fifty-two week low of $2.46 and a fifty-two week high of $6.41. The stock’s fifty day moving average is $2.87 and its two-hundred day moving average is $3.13.

Granite Point Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a 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 -8.66%.

Analysts Set New Price Targets

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

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.