Granite Point Mortgage downgraded as JMP points to weak Q4 results [Seeking Alpha]
Granite Point Mortgage Trust Inc. (GPMT)
Last granite point mortgage trust inc. earnings: 3/2 04:56 pm
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Source: Seeking Alpha
On Wednesday, the company, which originates and invests in debt tied to the troubled commercial real estate space, posted a GAAP loss of $0.33 per share, well below the average analyst estimate. Earnings were adversely impacted by a $21.6M, or $0.42 per share, additional credit loss provision. "2023 was another challenging year for the commercial real estate industry for both property owners and lenders. Transaction volumes have remained extremely low. High interest rates have continued to increase the cost of capital, pressuring property values across sectors. They have also created a low visibility for market participants about the future cost of capital and so further reduced liquidity in the sector," President and CEO Jack Taylor said during the company's Q4 earnings conference call. Shares of New York-based Granite Point Mortgage ( GPMT ) slid 13.8% in the past five sessions and 23.9% since the start of 2024. The S&P 500, by comparison, slipped 0.6% and rose 4.9%, respecti
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News
- Positive Signs As Multiple Insiders Buy Granite Point Mortgage Trust Stock [Yahoo! Finance]Yahoo! Finance
- Granite Point Mortgage Trust Inc. Announces Dates for First Quarter 2024 Earnings Release and Conference Call [Yahoo! Finance]Yahoo! Finance
- Granite Point Mortgage Trust Inc. Announces Dates for First Quarter 2024 Earnings Release and Conference CallBusiness Wire
- Granite Point Mortgage Trust Inc. (NYSE: GPMT) had its price target lowered by analysts at Keefe, Bruyette & Woods from $5.00 to $4.75. They now have an "underperform" rating on the stock.MarketBeat
- Granite Point Mortgage Trust Inc. (NYSE: GPMT) had its price target lowered by analysts at UBS Group AG from $6.50 to $6.00. They now have a "buy" rating on the stock.MarketBeat
GPMT
Earnings
- 2/14/24 - Beat
GPMT
Sec Filings
- 4/22/24 - Form ARS
- 4/22/24 - Form DEFA14A
- 4/22/24 - Form DEF
- GPMT's page on the SEC website