Granite Point Mortgage Trust Inc. 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. As of December 31, 2020, its investment portfolio includes 103 commercial real estate loan investments. The company intends to qualify as a real estate investment trust for federal income tax purposes. Granite Point Mortgage Trust Inc. was founded in 2015 and is headquartered in New York, New York.
IPO Year: 2017
Exchange: NYSE
Website: gpmtreit.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 2/20/2024 | Mkt Outperform → Mkt Perform | JMP Securities | |
| 12/6/2023 | $6.50 | Buy | UBS |
| 12/15/2022 | $6.00 | Mkt Perform → Underperform | Keefe Bruyette |
| 3/1/2022 | $15.00 → $14.00 | Outperform | Credit Suisse |
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending September 30, 2024, and provided an update on its activities subsequent to quarter-end. An earnings supplemental containing third quarter 2024 financial results can be viewed at www.gpmtreit.com. "Our third quarter results are highlighted by multiple nonaccrual loan resolutions, produced by our active portfolio management strategy, and accretive share buybacks," said Jack Taylor, President and Chief Executive Officer of Granite Point. "This forward momentum has continued with over $280 million of nonaccrual loans that already have been or are
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that it will release financial results for the quarter ended September 30, 2024, after market close on November 6, 2024. The Company will host a conference call to review the financial results on November 7, 2024, at 11:00 a.m. ET. To participate in the teleconference, approximately 10 minutes prior to the above start time please call toll-free (877) 407-8031, (or (201) 689-8031 for international callers) and ask to be joined into the Granite Point Mortgage Trust Inc. call. You may also listen to the teleconference live via the Internet at www.gpmtreit.com, in the Investors section unde
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that the Company's Board of Directors declared a quarterly cash dividend of $0.05 per share of common stock for the third quarter of 2024. This dividend is payable on October 15, 2024, to holders of record of common stock at the close of business on October 1, 2024. The Company's Board of Directors also declared a quarterly cash dividend of $0.4375 per share of the 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for the third quarter of 2024. This dividend is payable on October 15, 2024, to the holders of record of the Series A Preferred Stock at the close of
Blake Johnson to Return to Serve as CFO Effective December 1, 2024 Marcin Urbaszek to Step Down Effective December 1, 2024 Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that Blake Johnson will be appointed Chief Financial Officer, effective December 1, 2024. Mr. Johnson will join the Company no later than October 28, 2024, as Deputy CFO before assuming the CFO role. This appointment follows Marcin Urbaszek, the Company's current Chief Financial Officer, submitting a letter of resignation to the Company's Board of Directors notifying it of his intention to step down from his position to pursue a professional opportunity with a
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending June 30, 2024, and provided an update on its activities subsequent to quarter-end. An earnings supplemental containing second quarter 2024 financial results can be viewed at www.gpmtreit.com. "We have made meaningful progress addressing our nonearning assets over the last few months," said Jack Taylor, President and Chief Executive Officer of Granite Point. "We anticipate executing on significant additional nonaccrual resolutions and realizing more loan repayments through the rest of the year. The reduction in our book value this quarter res
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that it will release financial results for the quarter ended June 30, 2024, after market close on August 5, 2024. The Company will host a conference call to review the financial results on August 6, 2024, at 11:00 a.m. ET. To participate in the teleconference, approximately 10 minutes prior to the above start time please call toll-free (877) 407-8031, (or (201) 689-8031 for international callers) and ask to be joined into the Granite Point Mortgage Trust Inc. call. You may also listen to the teleconference live via the Internet at www.gpmtreit.com, in the Investors section under the Ne
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that the Company's Board of Directors declared a quarterly cash dividend of $0.05 per share of common stock for the second quarter of 2024. This dividend is payable on July 15, 2024, to holders of record of common stock at the close of business on July 1, 2024. The Company's Board of Directors also declared a quarterly cash dividend of $0.4375 per share of the 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for the second quarter of 2024. This dividend is payable on July 15, 2024, to the holders of record of the Series A Preferred Stock at the close of busin
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending March 31, 2024, and provided an update on its activities subsequent to quarter-end. A presentation containing first quarter 2024 financial results can be viewed at www.gpmtreit.com. "Our first quarter earnings were primarily affected by the factors continuing to impact the commercial real estate sector, including prolonged high interest rates, historically low transaction volume and suppressed market liquidity," said Jack Taylor, President and Chief Executive Officer of Granite Point. "We increased our CECL reserves in the first quarter main
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that it will release financial results for the quarter ended March 31, 2024, after market close on May 7, 2024. The Company will host a conference call to review the financial results on May 8, 2024, at 11:00 a.m. ET. To participate in the teleconference, approximately 10 minutes prior to the above start time please call toll-free (877) 407-8031, (or (201) 689-8031 for international callers) and ask to be joined into the Granite Point Mortgage Trust Inc. call. You may also listen to the teleconference live via the Internet at www.gpmtreit.com, in the Investor Relations section under th
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that the Company's Board of Directors declared a quarterly cash dividend of $0.15 per share of common stock for the first quarter of 2024. This dividend is payable on April 15, 2024, to holders of record of common stock at the close of business on April 1, 2024. The Company's Board of Directors also declared a quarterly cash dividend of $0.4375 per share of the 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for the first quarter of 2024. This dividend is payable on April 15, 2024, to the holders of record of the Series A Preferred Stock at the close of busi
10-Q - Granite Point Mortgage Trust Inc. (0001703644) (Filer)
8-K - Granite Point Mortgage Trust Inc. (0001703644) (Filer)
8-K - Granite Point Mortgage Trust Inc. (0001703644) (Filer)
8-K - Granite Point Mortgage Trust Inc. (0001703644) (Filer)
8-K - Granite Point Mortgage Trust Inc. (0001703644) (Filer)
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10-Q - Granite Point Mortgage Trust Inc. (0001703644) (Filer)
8-K - Granite Point Mortgage Trust Inc. (0001703644) (Filer)
8-K - Granite Point Mortgage Trust Inc. (0001703644) (Filer)
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Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending September 30, 2024, and provided an update on its activities subsequent to quarter-end. An earnings supplemental containing third quarter 2024 financial results can be viewed at www.gpmtreit.com. "Our third quarter results are highlighted by multiple nonaccrual loan resolutions, produced by our active portfolio management strategy, and accretive share buybacks," said Jack Taylor, President and Chief Executive Officer of Granite Point. "This forward momentum has continued with over $280 million of nonaccrual loans that already have been or are
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that it will release financial results for the quarter ended September 30, 2024, after market close on November 6, 2024. The Company will host a conference call to review the financial results on November 7, 2024, at 11:00 a.m. ET. To participate in the teleconference, approximately 10 minutes prior to the above start time please call toll-free (877) 407-8031, (or (201) 689-8031 for international callers) and ask to be joined into the Granite Point Mortgage Trust Inc. call. You may also listen to the teleconference live via the Internet at www.gpmtreit.com, in the Investors section unde
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that the Company's Board of Directors declared a quarterly cash dividend of $0.05 per share of common stock for the third quarter of 2024. This dividend is payable on October 15, 2024, to holders of record of common stock at the close of business on October 1, 2024. The Company's Board of Directors also declared a quarterly cash dividend of $0.4375 per share of the 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for the third quarter of 2024. This dividend is payable on October 15, 2024, to the holders of record of the Series A Preferred Stock at the close of
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending June 30, 2024, and provided an update on its activities subsequent to quarter-end. An earnings supplemental containing second quarter 2024 financial results can be viewed at www.gpmtreit.com. "We have made meaningful progress addressing our nonearning assets over the last few months," said Jack Taylor, President and Chief Executive Officer of Granite Point. "We anticipate executing on significant additional nonaccrual resolutions and realizing more loan repayments through the rest of the year. The reduction in our book value this quarter res
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that it will release financial results for the quarter ended June 30, 2024, after market close on August 5, 2024. The Company will host a conference call to review the financial results on August 6, 2024, at 11:00 a.m. ET. To participate in the teleconference, approximately 10 minutes prior to the above start time please call toll-free (877) 407-8031, (or (201) 689-8031 for international callers) and ask to be joined into the Granite Point Mortgage Trust Inc. call. You may also listen to the teleconference live via the Internet at www.gpmtreit.com, in the Investors section under the Ne
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that the Company's Board of Directors declared a quarterly cash dividend of $0.05 per share of common stock for the second quarter of 2024. This dividend is payable on July 15, 2024, to holders of record of common stock at the close of business on July 1, 2024. The Company's Board of Directors also declared a quarterly cash dividend of $0.4375 per share of the 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for the second quarter of 2024. This dividend is payable on July 15, 2024, to the holders of record of the Series A Preferred Stock at the close of busin
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending March 31, 2024, and provided an update on its activities subsequent to quarter-end. A presentation containing first quarter 2024 financial results can be viewed at www.gpmtreit.com. "Our first quarter earnings were primarily affected by the factors continuing to impact the commercial real estate sector, including prolonged high interest rates, historically low transaction volume and suppressed market liquidity," said Jack Taylor, President and Chief Executive Officer of Granite Point. "We increased our CECL reserves in the first quarter main
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that it will release financial results for the quarter ended March 31, 2024, after market close on May 7, 2024. The Company will host a conference call to review the financial results on May 8, 2024, at 11:00 a.m. ET. To participate in the teleconference, approximately 10 minutes prior to the above start time please call toll-free (877) 407-8031, (or (201) 689-8031 for international callers) and ask to be joined into the Granite Point Mortgage Trust Inc. call. You may also listen to the teleconference live via the Internet at www.gpmtreit.com, in the Investor Relations section under th
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that the Company's Board of Directors declared a quarterly cash dividend of $0.15 per share of common stock for the first quarter of 2024. This dividend is payable on April 15, 2024, to holders of record of common stock at the close of business on April 1, 2024. The Company's Board of Directors also declared a quarterly cash dividend of $0.4375 per share of the 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for the first quarter of 2024. This dividend is payable on April 15, 2024, to the holders of record of the Series A Preferred Stock at the close of busi
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter and full year ending December 31, 2023, and provided an update on its activities subsequent to quarter-end. A presentation containing fourth quarter and full year 2023 financial results can be viewed at www.gpmtreit.com. "During 2023, in light of the challenging macro environment, we prudently managed our business by actively managing our loan portfolio and maintaining a strong liquidity position, actions which protected our investors' capital," said Jack Taylor, president and Chief Executive Officer of GPMT. "Over the course of the year, we realiz
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Monro, Inc. (NASDAQ:MNRO), a leading provider of automotive undercar repair and tire services, today announced that the Company's Board of Directors has appointed Hope B. Woodhouse to the Board, effective immediately. Ms. Woodhouse will serve on the Compensation Committee and the Audit Committee. Monro also announced that Frederick Michael ("Mike") Danziger has retired from the Board, effective February 3, 2023. "We appreciate the constructive dialogue with shareholders and are implementing changes to strengthen Monro and improve our corporate governance," said Robert E. Mellor, Chair of the Board and Chair of the Nominating and Corporate Responsibility Committee. "Refreshment remains a pr
Wendy Luscombe to Retire from Board as Part of Ongoing Board Refreshment Acadia Realty Trust (NYSE:AKR) ("Acadia" or the "Company") today announced the appointment of Hope B. Woodhouse to the Company's Board of Trustees (the "Board") and to the Nominating and Corporate Governance Committee of the Board, effective January 10, 2023. Ms. Woodhouse is a seasoned financial executive with substantial experience in the financial services sector having spent over 25 years in executive management roles at top-ranked, global alternative asset management firms and broker dealers. From 2005 to 2009, she served as Chief Operating Officer and as a member of the management committee of Bridgewater Assoc
Granite Point Mortgage Trust Inc. (NYSE:GPMT) ("GPMT," "Granite Point" or the "Company") today announced that it has appointed Sheila K. McGrath as an independent member of its Board of Directors. With the addition of Ms. McGrath, the Granite Point Board comprises six directors, five of whom are independent. "Sheila is a highly respected and experienced REIT industry veteran, and we are pleased to welcome her to the Granite Point Board," said Stephen Kasnet, Chairman of the Granite Point Board of Directors. "Sheila brings significant financial acumen and more than 25 years of experience as one of the preeminent specialists covering Real Estate Investment Trusts. We look forward to benefiti
NEW YORK--(BUSINESS WIRE)--Granite Point Mortgage Trust Inc. (NYSE: GPMT) (“GPMT,” “Granite Point” or the “Company”) announced today that on December 31, 2020, it completed the internalization of its management function (“Internalization”), finalizing its transition to an internally-managed REIT. Pursuant to the Internalization Agreement dated October 10, 2020, between Granite Point and its former external manager, Pine River Capital Management L.P. (“the Manager”), the Company made a one-time cash payment of $44.5 million to the Manager and the management agreement between the Company and the Manager was terminated. Granite Point will no longer pay any management or incentive fees
JMP Securities downgraded Granite Point Mortgage from Mkt Outperform to Mkt Perform
UBS initiated coverage of Granite Point Mortgage with a rating of Buy and set a new price target of $6.50
Keefe Bruyette downgraded Granite Point Mortgage from Mkt Perform to Underperform and set a new price target of $6.00
Credit Suisse reiterated coverage of Granite Point Mortgage with a rating of Outperform and set a new price target of $14.00 from $15.00 previously
Raymond James reiterated coverage of Granite Point Mortgage with a rating of Outperform and set a new price target of $16.00 from $13.50 previously
Credit Suisse upgraded Granite Point Mortgage from Neutral to Outperform and set a new price target of $15.00 from $12.00 previously
Credit Suisse reiterated coverage of Granite Point Mortgage with a rating of Neutral and set a new price target of $12.00 from $10.50 previously
Raymond James reiterated coverage of Granite Point Mortgage Trust with a rating of Outperform and set a new price target of $13.50 from $11.00 previously
Raymond James reiterated coverage of Granite Point Mortgage with a rating of Outperform and set a new price target of $13.50 from $11.00 previously
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Keefe, Bruyette & Woods analyst Jade Rahmani maintains Granite Point Mortgage (NYSE:GPMT) with a Underperform and lowers the price target from $3.85 to $3.25.
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Granite Point Mortgage (NYSE:GPMT) reported quarterly earnings of $0.03 per share which met the analyst consensus estimate. This is a 85 percent decrease over earnings of $0.20 per share from the same period last year. The company reported quarterly sales of $12.523 million which missed the analyst consensus estimate of $15.263 million by 17.95 percent. This is a 45.35 percent decrease over sales of $22.913 million the same period last year.
Keefe, Bruyette & Woods analyst Jade Rahmani maintains Granite Point Mortgage (NYSE:GPMT) with a Underperform and lowers the price target from $5 to $4.75.
JMP Securities analyst Steven Delaney downgrades Granite Point Mortgage (NYSE:GPMT) from Market Outperform to Market Perform.
Raymond James analyst Stephen Laws maintains Granite Point Mortgage (NYSE:GPMT) with a Outperform and lowers the price target from $7 to $6.5.
Granite Point Mortgage (NYSE:GPMT) reported quarterly earnings of $0.14 per share which beat the analyst consensus estimate of $(0.29) by 148.28 percent. The company reported quarterly sales of $17.33 million which missed the analyst consensus estimate of $19.65 million by 11.80 percent. This is a 17.40 percent decrease over sales of $20.98 million the same period last year.
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Granite Point Mortgage (NYSE:GPMT) is set to give its latest quarterly earnings report on Wednesday, 2024-02-14. Here's what investors need to know before the announcement. Analysts estimate that Granite Point Mortgage will report an earnings per share (EPS) of $-0.29. Granite Point Mortgage bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Past Earnings Performance Last quarter the company beat EPS by $0.05, which was followed by