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.
Want $26,000 in Passive Income? Invest $120K in These Dividend Stocks
While stocks have been hitting all-time highs, investors might not want to sell. However, they might also be in need of passive income.
Granite Point Mortgage Trust (GPMT) Upgraded to Buy: Here's Why
Granite Point Mortgage Trust (GPMT) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Top 3 Financial Stocks That Are Set To Fly This Quarter
The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro. Here's the latest list of major oversold players in this sector, having an RSI near or below 30. On May 14, the company said revenue increased 11.2% to $11.1 million for the first quarter. Mark Roberson, Chief Executive Officer, commented, “The first quarter of 2024 continued the positive trends from 2023 as demand for laser projection and customer upgrade initiatives favorably impact revenue and margins. The ICS acquisition continues to perform, and we believe there are other opportunities in the market to accelerate scale in the services business. The Strong/MDI transaction represents a compelling valuation, and we are very excited to participate in the future growth of Saltire.” The company's stock fell around 8% over the past five days and has a 52-week low of $1.00. RSI Value: 29.15 FGF Price Action: Shares of Fundamental Global fell 0.9% to close at $1.13 on Friday. On May 7, Granite Point Mortgage posted weaker-than-expected quarterly results. “Our first quarter earnings were primarily affected by the factors continuing to impact the commercial real estate sector, including prolonged high interest rates, historically low transaction volume and suppressed market liquidity,” said Jack Taylor, President and Chief Executive Officer of Granite Point. The company's stock fell around 23% over the past month. It has a 52-week low of $3.2850. RSI Value: 25.74 GPMT Price Action: Shares of Granite Point Mortgage Trust gained 2.4% to close at $3.41 on Friday. On May 14, dLocal reported weaker-than-expected first-quarter earnings and said there is a greater likelihood of coming in towards the lower end of its guidance range.. The company's stock fell around 28% over the past five days and has a 52-week low of $9.04. RSI Value: 16.07 DLO Price Action: Shares of DLocal fell 1.6% to close at $9.59 on Friday. Read More: Zoom Video, Wix.com And 3 Stocks To Watch Heading Into Monday © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
