Granite Point Mortgage Trust Inc. (GPMT) To Go Ex-Dividend on April 1st

Granite Point Mortgage Trust Inc. (NYSE:GPMT) declared a quarterly dividend on Friday, March 13th. Shareholders of record on Wednesday, April 1st will be paid a dividend of 0.05 per share on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 14.1%. The ex-dividend date is Wednesday, April 1st.

Granite Point Mortgage Trust has decreased its dividend payment by an average of 0.2%annually over the last three years. Granite Point Mortgage Trust has a payout ratio of -42.6% indicating that 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 Trading Up 1.1%

GPMT stock opened at $1.42 on Monday. The company has a market cap of $67.30 million, a price-to-earnings ratio of -1.22 and a beta of 1.72. The firm has a 50 day moving average of $1.88 and a 200-day moving average of $2.41. Granite Point Mortgage Trust has a 12-month low of $1.40 and a 12-month high of $3.12.

Granite Point Mortgage Trust (NYSE:GPMT) last issued its quarterly earnings data on Wednesday, February 11th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.10. The firm had revenue of $10.55 million for the quarter, compared to analysts’ expectations of $10.22 million. Granite Point Mortgage Trust had a negative net margin of 31.24% and a negative return on equity of 15.52%. Sell-side analysts forecast that Granite Point Mortgage Trust will post -2.75 earnings per share for the current fiscal year.

About Granite Point Mortgage Trust

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.