Granite Point Mortgage Trust: Hard To Recommend Even At Large Discounts To Book Value [Seeking Alpha]
Granite Point Mortgage Trust Inc. (GPMT)
Last granite point mortgage trust inc. earnings: 3/2 04:56 pm
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US:NYSE Investor Relations:
investors.gpmortgagetrust.com
Company Research
Source: Seeking Alpha
GPMT's book value has been steadily falling since the pandemic, and their dividend should be seen as a return of capital rather than a return on capital. While GPMT trades at a large discount to book value and offers a high yield, investors should be cautious as a dividend cut could significantly impact the share price. Background Granite Point Mortgage Trust ( NYSE: GPMT ) is a commercial real estate trust that has a mix of commercial properties that they lease out to tenants. I wrote about them a few years ago and actually recommended them when they were under $5 at the time. I thought the pandemic hit their share price too hard and they were trading at way too large of discount to their book value. I got the call right, as they went up around 200% before I sold the last of my shares. However, I can't help but feel I just got lucky as almost everything that wasn't going bankrupt right at that time was recovering. I have recently reviewed GPMT to see if I want to buy back in
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GPMT
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