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

Granite Point Mortgage Trust Inc. (NYSE:GPMT) announced a quarterly dividend on Tuesday, September 15th. Shareholders of record on Thursday, October 1st will be paid a dividend of 0.01 per share on Thursday, October 15th. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Thursday, October 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% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Granite Point Mortgage Trust to earn ($1.12) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -17.9%.

Granite Point Mortgage Trust Stock Down 3.2%

Shares of GPMT opened at $0.87 on Thursday. Granite Point Mortgage Trust has a 52-week low of $0.83 and a 52-week high of $3.12. The stock has a fifty day simple moving average of $1.20 and a two-hundred day simple moving average of $1.38. The company has a market capitalization of $41.74 million, a PE ratio of -0.43 and a beta of 1.58.

Granite Point Mortgage Trust (NYSE:GPMT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.40). Granite Point Mortgage Trust had a negative net margin of 73.75% and a negative return on equity of 10.25%. The firm had revenue of $8.27 million for the quarter, compared to analyst estimates of $7.85 million. As a group, equities analysts anticipate that Granite Point Mortgage Trust will post -1.53 earnings per share for the current fiscal year.

About Granite Point Mortgage Trust

Granite Point Mortgage Trust Inc (NYSE:GPMT) is a real estate investment trust focused on commercial real estate finance. The company originates, invests in and manages commercial real estate debt investments, with an emphasis on floating-rate senior mortgage loans secured by properties in the United States.

Granite Point generally provides financing for transitional commercial properties—assets that may require leasing, renovation, redevelopment or other improvements before reaching stabilized operating performance.