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

Granite Point Mortgage Trust (NYSE:GPMTGet Free Report) is set to announce its earnings results after the market closes on Monday, August 5th. Analysts expect the company to announce earnings of ($0.08) per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Granite Point Mortgage Trust Trading Down 5.1 %

Shares of GPMT opened at $2.81 on Friday. The firm has a market cap of $143.39 million, a PE ratio of -1.22 and a beta of 1.79. The company’s 50 day simple moving average is $3.02 and its 200-day simple moving average is $4.07. Granite Point Mortgage Trust has a 12-month low of $2.68 and a 12-month high of $6.41.

Granite Point Mortgage Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.20 dividend on an annualized basis and a yield of 7.12%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is -8.66%.

Insiders Place Their Bets

In other news, Director Stephen G. Kasnet sold 27,027 shares of Granite Point Mortgage Trust stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $3.08, for a total transaction of $83,243.16. Following the completion of the transaction, the director now owns 121,066 shares of the company’s stock, valued at approximately $372,883.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their price objective on shares of Granite Point Mortgage Trust from $3.85 to $3.25 and set an “underperform” rating on the stock in a research report on Wednesday, July 10th.

View Our Latest Stock Report on GPMT

About Granite Point Mortgage Trust

(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.

Further Reading

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

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