News headlines about Granite Point Mortgage Trust (NYSE:GPMT) have trended positive recently, Accern Sentiment reports. The research firm rates the sentiment of media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Granite Point Mortgage Trust earned a news sentiment score of 0.31 on Accern’s scale. Accern also assigned media stories about the company an impact score of 45.6460809632084 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the news articles that may have impacted Accern’s scoring:
- Granite Point Mortgage Trust Inc (GPMT) Plans Quarterly Dividend of $0.40 (americanbankingnews.com)
- Granite Point Mortgage Trust Inc. Announces Second Quarter 2018 Common Stock Dividend and Business Update (dailyamerican.com)
- Granite Point Mortgage reports pipeline of more than $640M (seekingalpha.com)
- Granite Point Mortgage Trust Inc. Announces Second Quarter 2018 Common Stock Dividend and Business Update (finance.yahoo.com)
Several research firms have recently issued reports on GPMT. Zacks Investment Research upgraded Granite Point Mortgage Trust from a “strong sell” rating to a “hold” rating and set a $20.00 target price for the company in a research report on Tuesday, May 15th. Citigroup initiated coverage on Granite Point Mortgage Trust in a research report on Tuesday, March 27th. They set a “neutral” rating and a $19.00 target price for the company. Finally, Raymond James initiated coverage on Granite Point Mortgage Trust in a research report on Tuesday, March 27th. They issued a “strong-buy” rating and a $21.00 price objective for the company. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Granite Point Mortgage Trust currently has an average rating of “Buy” and an average target price of $19.69.
Granite Point Mortgage Trust (NYSE:GPMT) last issued its quarterly earnings data on Wednesday, May 9th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. Granite Point Mortgage Trust had a return on equity of 6.74% and a net margin of 40.63%. The business had revenue of $39.98 million during the quarter, compared to analyst estimates of $22.96 million. equities analysts forecast that Granite Point Mortgage Trust will post 1.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 18th. Investors of record on Monday, July 2nd will be given a $0.40 dividend. The ex-dividend date is Friday, June 29th. This is a positive change from Granite Point Mortgage Trust’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a dividend yield of 8.53%.
In other news, insider Stephen Alpart purchased 2,800 shares of Granite Point Mortgage Trust stock in a transaction on Thursday, May 24th. The stock was purchased at an average price of $18.37 per share, with a total value of $51,436.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Marcin Urbaszek purchased 2,500 shares of Granite Point Mortgage Trust stock in a transaction on Thursday, May 24th. The shares were purchased at an average cost of $18.34 per share, with a total value of $45,850.00. The disclosure for this purchase can be found here. Insiders purchased a total of 11,067 shares of company stock valued at $200,227 over the last quarter. 2.10% of the stock is owned by insiders.
Granite Point Mortgage Trust Company Profile
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, 2017, its investment portfolio includes 61 commercial real estate debt investments.
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