Granite Point Mortgage Trust (GPMT) Stock Price, News & Analysis

4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Granite Point Mortgage Trust in the last twelve months. There are currently 1 sell rating, 1 hold rating and 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" GPMT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GPMT, but not buy additional shares or sell existing shares.
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4 equities research analysts have issued 12-month price objectives for Granite Point Mortgage Trust's shares. Their GPMT share price targets range from $4.75 to $9.00. On average, they predict the company's stock price to reach $6.56 in the next twelve months. This suggests a possible upside of 51.9% from the stock's current price.
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Granite Point Mortgage Trust's stock was trading at $5.94 on January 1st, 2024. Since then, GPMT shares have decreased by 27.3% and is now trading at $4.32.
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Granite Point Mortgage Trust saw a drop in short interest in the month of March. As of March 15th, there was short interest totaling 547,400 shares, a drop of 8.0% from the February 29th total of 595,300 shares. Based on an average daily trading volume, of 409,100 shares, the short-interest ratio is presently 1.3 days. Currently, 1.1% of the shares of the company are short sold.
View Granite Point Mortgage Trust's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 14th 2024.
View our GPMT earnings forecast.

Granite Point Mortgage Trust Inc. (NYSE:GPMT) posted its quarterly earnings data on Friday, February, 24th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.18 by $0.35. The business earned $61.42 million during the quarter, compared to analysts' expectations of $19.40 million. Granite Point Mortgage Trust had a positive trailing twelve-month return on equity of 4.10% and a negative net margin of 23.49%.

Granite Point Mortgage Trust announced a quarterly dividend on Thursday, March 14th. Stockholders of record on Monday, April 1st will be given a dividend of $0.15 per share on Monday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 13.89%. The ex-dividend date is Thursday, March 28th.
Read our dividend analysis for GPMT.

Granite Point Mortgage Trust (NYSE:GPMT) pays an annual dividend of $0.60 per share and currently has a dividend yield of 13.57%. GPMT has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer.
Read our dividend analysis for GPMT.

iShares Mortgage Real Estate ETF holds 748,901 shares of GPMT stock, representing 0.56% of its portfolio.

Based on aggregate information from My MarketBeat watchlists, some companies that other Granite Point Mortgage Trust investors own include Two Harbors Investment (TWO), Prospect Capital (PSEC), Chembio Diagnostics (CEMI), New Residential Investment (NRZ), Energy Transfer (ET), Calumet Specialty Products Partners (CLMT), New York Mortgage Trust (NYMT), Washington Prime Group (WPG), Invesco Mortgage Capital (IVR) and Annaly Capital Management (NLY).

Granite Point Mortgage Trust (GPMT) raised $205 million in an initial public offering (IPO) on Friday, June 23rd 2017. The company issued 10,000,000 shares at a price of $20.00-$21.00 per share. J.P. Morgan, Morgan Stanley, Citigroup and BofA Merrill Lynch served as the underwriters for the IPO and JMP Securities and Keefe, Bruyette & Woods (a Stifel Company) were co-managers.

Granite Point Mortgage Trust's stock is owned by a variety of retail and institutional investors. Top institutional investors include Epiq Partners LLC (1.14%) and Westend Capital Management LLC (0.02%). Insiders that own company stock include John A Taylor, John A Taylor, Marcin Urbaszek, Stephen Alpart, Steven Plust and William Reid Sanders.
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Shares of GPMT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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