Granite Point Mortgage Trust (GPMT) to Release Earnings on Wednesday

Granite Point Mortgage Trust (NYSE:GPMTGet Free Report) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, February 14th. Analysts expect Granite Point Mortgage Trust to post earnings of ($0.46) per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Granite Point Mortgage Trust Stock Performance

NYSE GPMT opened at $5.30 on Tuesday. The stock has a fifty day moving average of $5.76 and a 200-day moving average of $5.28. The stock has a market capitalization of $273.37 million, a P/E ratio of -3.90 and a beta of 1.85. Granite Point Mortgage Trust has a 52 week low of $3.97 and a 52 week high of $6.41.

Granite Point Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 15.09%. The ex-dividend date was Thursday, December 28th. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -58.82%.

Wall Street Analysts Forecast Growth

Separately, UBS Group initiated coverage on Granite Point Mortgage Trust in a report on Wednesday, December 6th. They set a “buy” rating and a $6.50 price objective for the company.

Check Out Our Latest Research Report on GPMT

Insider Activity at Granite Point Mortgage Trust

In other news, CEO John A. Taylor bought 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average cost of $5.06 per share, with a total value of $27,830.00. Following the completion of the purchase, the chief executive officer now owns 275,013 shares of the company’s stock, valued at $1,391,565.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Granite Point Mortgage Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new position in shares of Granite Point Mortgage Trust during the 1st quarter worth approximately $75,000. Envestnet Asset Management Inc. bought a new position in Granite Point Mortgage Trust during the third quarter worth $75,000. Sei Investments Co. bought a new position in Granite Point Mortgage Trust during the first quarter worth $74,000. Equitable Holdings Inc. boosted its position in Granite Point Mortgage Trust by 33.0% during the first quarter. Equitable Holdings Inc. now owns 13,523 shares of the company’s stock worth $67,000 after purchasing an additional 3,354 shares during the period. Finally, Wolverine Trading LLC boosted its position in Granite Point Mortgage Trust by 123.3% during the second quarter. Wolverine Trading LLC now owns 11,576 shares of the company’s stock worth $64,000 after purchasing an additional 6,391 shares during the period. Institutional investors own 47.42% of the company’s stock.

Granite Point Mortgage Trust Company Profile

(Get Free Report)

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.

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Earnings History for Granite Point Mortgage Trust (NYSE:GPMT)

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