Granite Point Mortgage Trust Inc. (GPMT) To Go Ex-Dividend on December 30th

Granite Point Mortgage Trust Inc. (NYSE:GPMT) declared a quarterly dividend on Wednesday, December 17th. Stockholders of record on Tuesday, December 30th will be given a dividend of 0.05 per share on Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Tuesday, December 30th.

Granite Point Mortgage Trust has decreased its dividend by an average of 0.3%per year over the last three years. Granite Point Mortgage Trust has a dividend payout ratio of -42.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Granite Point Mortgage Trust Stock Down 0.4%

Shares of GPMT stock opened at $2.45 on Friday. Granite Point Mortgage Trust has a 12-month low of $1.61 and a 12-month high of $3.19. The firm has a fifty day moving average of $2.68 and a 200-day moving average of $2.71. The company has a market capitalization of $116.20 million, a price-to-earnings ratio of -1.70 and a beta of 1.73.

Granite Point Mortgage Trust (NYSE:GPMT) last posted its quarterly earnings data on Wednesday, May 25th. The company reported $0.38 EPS for the quarter. The business had revenue of $27.77 million for the quarter. Granite Point Mortgage Trust had a negative net margin of 39.73% and a negative return on equity of 30.39%. On average, equities analysts expect that Granite Point Mortgage Trust will post -2.75 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on GPMT shares. Compass Point set a $3.00 price objective on Granite Point Mortgage Trust in a research report on Thursday, October 9th. Keefe, Bruyette & Woods cut their target price on Granite Point Mortgage Trust from $3.00 to $2.75 and set a “market perform” rating on the stock in a research note on Tuesday, November 11th. Wall Street Zen raised Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Granite Point Mortgage Trust to a “hold” rating in a research report on Friday, December 19th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.08.

Granite Point Mortgage Trust Company Profile

Granite Point Mortgage Trust, Inc is a specialty finance company that invests directly in commercial real estate debt. The company focuses on originating, acquiring and managing senior preferred and mezzanine loans secured by income-producing real estate across diverse property types, including multifamily, office, industrial and retail assets. Granite Point Mortgage Trust operates as a real estate investment trust (REIT), providing investors with exposure to floating-rate commercial mortgage loan investments.

Granite Point’s investment strategy centers on structuring loans to deliver attractive risk-adjusted returns, with portfolio allocations spanning senior loans, B-notes and mezzanine financings.