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

Granite Point Mortgage Trust (NYSE:GPMT) is scheduled to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Granite Point Mortgage Trust to post earnings of $0.10 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Granite Point Mortgage Trust Stock Performance

NYSE:GPMT opened at $4.42 on Monday. Granite Point Mortgage Trust has a 12-month low of $3.97 and a 12-month high of $6.41. The stock’s fifty day simple moving average is $4.58 and its 200-day simple moving average is $5.06.

Granite Point Mortgage Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 13.57%. Granite Point Mortgage Trust’s dividend payout ratio is -40.00%.

Analyst Upgrades and Downgrades

GPMT has been the topic of several research analyst reports. UBS Group dropped their price objective on Granite Point Mortgage Trust from $6.50 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, March 20th. JMP Securities lowered Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 20th. Raymond James decreased their price objective on Granite Point Mortgage Trust from $7.00 to $6.50 and set an “outperform” rating for the company in a research report on Friday, February 16th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Granite Point Mortgage Trust from $5.00 to $4.75 and set an “underperform” rating on the stock in a report on Wednesday, April 10th.

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.