Granite Point Mortgage: Not A Compelling Investment At The Moment
Granite Point Mortgage Trust's common shares have dipped significantly over the past 1-year, reflecting ongoing challenges with its CRE loan portfolio. The mREIT reported a first-quarter book value of $8.24 per share, dipping by 23 cents sequentially with the commons trading at a 71% discount to book value per share. GPMT's unpaid principal balance continues to decline on muted originations. But CECL reserve as a percentage of loan commitments has been falling, down 40 basis points sequentially.
Granite Point Mortgage Trust, Inc. (GPMT) Q1 2025 Earnings Call Transcript
Granite Point Mortgage Trust, Inc. (NYSE:GPMT ) Q1 2025 Earnings Conference Call May 7, 2025 11:00 AM ET Company Participants Chris Petta - Head, IR Jack Taylor - President & CEO Steve Alpart - CIO & Co-Head, Originations Blake Johnson - CFO Peter Morral - CDO & Co-Head, Originations Ethan Lebowitz - COO Conference Call Participants Doug Harter - UBS Steve DeLaney - Citizens JMP Jade Rahmani - KBW Operator Good morning. My name is Paul, and I will be your conference facilitator.
Granite Point Mortgage: Definitely Not Out Of The Woods Yet
Granite Point Mortgage Trust's preferred shares face challenges with dividend coverage and asset coverage ratios amid increased operating expenses and credit provisions. Despite a significant pre-tax loss and declining common equity, I maintain my position in GPMT's Series A preferred shares. The preferred shares offer a 10.1% yield now, potentially rising to 14.7% by 2027, but market concerns persist.
Granite Point Mortgage Trust Inc. (GPMT) Q4 2024 Earnings Call Transcript
Granite Point Mortgage Trust Inc. (NYSE:GPMT ) Q4 2024 Earnings Conference Call February 14, 2025 11:00 AM ET Company Participants Chris Petta - Investor Relations Jack Taylor - President and Chief Executive Officer Steve Alpart - Chief Investment Officer and Co-Head-Originations Blake Johnson - Chief Financial Officer Conference Call Participants Douglas Harter - UBS Steve DeLaney - Citizens JMP Jade Rahmani - KBW Operator Good morning. My name is Diego, and I will be your conference facilitator.
Granite Point Mortgage Trust (GPMT) Reports Q4 Loss, Misses Revenue Estimates
Granite Point Mortgage Trust (GPMT) came out with a quarterly loss of $1.98 per share versus the Zacks Consensus Estimate of a loss of $1.58. This compares to earnings of $0.14 per share a year ago.
Granite Point Mortgage's Improved Liquidity Brings Its 10% Yielding Preferreds Into Focus
Granite Point Mortgage Trust's common equity is down 36% in 2024, trading at a 65% discount to book value due to office property loan exposure. The mREIT's third-quarter book value dipped by 59 cents per share, with a $0.55 per share provision for credit loss and increased share repurchase authorization. GPMT's liquidity improved with $113.46 million in cash and cash equivalents, driven by substantial loan repayments and a focus on reducing office property exposure.
Granite Point Mortgage Trust Inc. (GPMT) Q3 2024 Earnings Call Transcript
Granite Point Mortgage Trust Inc. (NYSE:GPMT ) Q3 2024 Earnings Conference Call November 7, 2024 11:00 AM ET Company Participants Chris Petta - Investor Relations Jack Taylor - President and Chief Executive Officer Steve Alpart - Chief Investment Officer and Co-Head-Originations Marcin Urbaszek - Chief Financial Officer Conference Call Participants Steve DeLaney - Citizens JMP Douglas Harter - UBS Jade Rahmani - KBW Operator Good morning. My name is Christine and I will be your conference facilitator.
Granite Point Mortgage Trust (GPMT) Reports Q3 Loss, Tops Revenue Estimates
Granite Point Mortgage Trust (GPMT) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.96. This compares to earnings of $0.18 per share a year ago.
3 Real Estate Stocks to Buy on Increasing Mortgage Rates
Sino Land (SNLAY), Two Harbors (TWO) and Grantite Point (GPMT) are three real estate stocks to look into as mortgage rates continue to rise despite Fed rate cuts.
Granite Point Mortgage Trust: Office Distress Continues, Are The Preferreds Safe
Granite Point Mortgage Trust has shed 50% over the last year due to the extreme discombobulation of its loan portfolio. Book value per share dipped by 11.7% sequentially during the mREIT's fiscal 2024 second quarter. The dividend has been cut by nearly 70%. It should have been suspended to fund share buybacks with the mREIT currently trading at a 74% discount to book value.
Granite Point Mortgage Trust (GPMT) Reports Q2 Loss, Misses Revenue Estimates
Granite Point Mortgage Trust (GPMT) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to earnings of $0.12 per share a year ago.
Granite Point: Downside Materialized, I'm Flipping Bullish
I have been very bearish on Granite Point, warning that a dividend cut was inevitable. Now that the dividend has been cut, I see two reasons why it makes sense to start bottom fishing. I flip bullish and present my updated thesis.
