Granite Point Mortgage Trust Inc. (NYSE:GPMT) Declares Quarterly Dividend of $0.05

Granite Point Mortgage Trust Inc. (NYSE:GPMT) announced a quarterly dividend on Wednesday, December 17th. Stockholders of record on Tuesday, December 30th will be given a dividend of 0.05 per share on Thursday, January 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Tuesday, December 30th.

Granite Point Mortgage Trust has decreased its dividend by an average of 0.3%per year over the last three years. Granite Point Mortgage Trust has a dividend payout ratio of -42.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Granite Point Mortgage Trust Stock Up 1.0%

NYSE:GPMT traded up $0.02 during midday trading on Thursday, hitting $2.53. The company had a trading volume of 14,846 shares, compared to its average volume of 366,455. Granite Point Mortgage Trust has a 52-week low of $1.61 and a 52-week high of $3.19. The stock’s fifty day moving average price is $2.72 and its 200-day moving average price is $2.72. The company has a market capitalization of $120.14 million, a PE ratio of -1.75 and a beta of 1.73.

Granite Point Mortgage Trust (NYSE:GPMT) last released its quarterly earnings results on Wednesday, May 25th. The company reported $0.38 earnings per share for the quarter. Granite Point Mortgage Trust had a negative return on equity of 30.39% and a negative net margin of 39.73%.The business had revenue of $27.77 million for the quarter. As a group, research analysts forecast that Granite Point Mortgage Trust will post -2.75 earnings per share for the current year.

About Granite Point Mortgage Trust

Granite Point Mortgage Trust Inc, a real estate investment trust, 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. The company provides intermediate-term bridge or transitional financing for various purposes, including acquisitions, recapitalizations, and refinancing, as well as a range of business plans, including lease-up, renovation, repositioning, and repurposing of the commercial property.