Granite Point Mortgage Trust Inc. (NYSE:GPMT – Get Free Report) declared a quarterly dividend on Tuesday, September 15th. Investors of record on Thursday, October 1st will be paid a dividend of 0.01 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Thursday, October 1st.
Granite Point Mortgage Trust has decreased its dividend by an average of 0.2%per year 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. Equities 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 0.9%
Shares of NYSE GPMT opened at $0.89 on Wednesday. Granite Point Mortgage Trust has a fifty-two week low of $0.85 and a fifty-two week high of $3.12. The business has a 50 day moving average price of $1.21 and a two-hundred day moving average price of $1.39. The firm has a market cap of $43.09 million, a PE ratio of -0.44 and a beta of 1.58.
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.
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