Granite Point Mortgage Trust (GPMT) Projected to Post Earnings on Tuesday

Granite Point Mortgage Trust (NYSE:GPMT) is anticipated to issue its Q1 2025 quarterly earnings data before the market opens on Tuesday, May 6th. Analysts expect Granite Point Mortgage Trust to post earnings of ($0.58) per share and revenue of $8.00 million for the quarter.

Granite Point Mortgage Trust (NYSE:GPMT) last announced its earnings results on Thursday, February 13th. The company reported ($1.99) EPS for the quarter, missing the consensus estimate of ($0.73) by ($1.26). The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.90 million. Granite Point Mortgage Trust had a negative return on equity of 14.08% and a negative net margin of 111.59%.

Granite Point Mortgage Trust Stock Up 4.0 %

Granite Point Mortgage Trust stock opened at $1.71 on Tuesday. Granite Point Mortgage Trust has a twelve month low of $1.61 and a twelve month high of $4.50. The company has a 50 day moving average of $2.42 and a 200-day moving average of $2.84. The stock has a market capitalization of $82.53 million, a PE ratio of -0.39 and a beta of 1.46.

Granite Point Mortgage Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 11.73%. The ex-dividend date of this dividend was Tuesday, April 1st. Granite Point Mortgage Trust’s payout ratio is presently -4.56%.

Insiders Place Their Bets

In related news, Director Patrick Gregory Halter bought 34,001 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were acquired at an average price of $2.80 per share, with a total value of $95,202.80. Following the completion of the transaction, the director now owns 34,001 shares in the company, valued at $95,202.80. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 34,770 shares of company stock valued at $108,849 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on GPMT shares. JMP Securities reissued a “market perform” rating on shares of Granite Point Mortgage Trust in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods dropped their target price on Granite Point Mortgage Trust from $2.75 to $2.50 and set a “market perform” rating on the stock in a research report on Monday, April 7th. Finally, UBS Group cut their target price on Granite Point Mortgage Trust from $3.50 to $2.50 and set a “buy” rating on the stock in a research note on Wednesday, April 16th.

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.