If you own shares in Granite Point Mortgage Trust Inc. (NYSE:GPMT) then it's worth thinking about how it contributes...
First-quarter results and the CEO's commentary provided reason for hope that the commercial REIT can weather the downturn.
Granite Point Mortgage Trust (GPMT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Granite Point Mortgage Trust Inc. Provides Company Update Regarding Impact of COVID-19
Granite Point Mortgage Trust (GPMT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The Zacks Analyst Blog Highlights: AGNC Investment, Granite Point Mortgage Trust, Annaly Capital Management, NexPoint Residential Trust and Apartment Investment and Management Company
Granite Point Mortgage Trust (GPMT) delivered earnings and revenue surprises of -8.11% and -0.94%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Top Ranked Income Stocks to Buy for March 4th
REITs usually have attractive yields as they are required to distribute nearly 90% of their taxable income every year as dividends to shareholders due to the special tax treatment they receive.
Granite Point Mortgage Trust (GPMT) delivered earnings and revenue surprises of -5.88% and 4.61%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
At this time, I would like to welcome everyone to the Granite Point Mortgage Trust first-quarter 2020 financial results conference call. Thank you for joining our call to discuss Granite Point's first-quarter 2020 financial results. With me on the call this morning are Jack Taylor, president and CEO; Marcin Urbaszek, our CFO; Steve Alpart, our CIO; and Steve Plust, our COO.
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Granite Point Mortgage Trust Inc. Announces 2020 Annual Meeting of Stockholders
(Bloomberg) -- Granite Point Mortgage Trust Inc. has tapped Evercore Inc. for strategic advice as it looks for ways to shore up its financial position, according to people familiar with the matter.The New York-based company, which originates, invests in and manages commercial real estate-linked debt, is exploring financing alternatives among other options, said one of the people, who requested anonymity because the matter is private.A representative for Granite Point declined to comment, while a spokesman for Evercore also declined to comment.Granite Point in March said it had agreed to internalize its management, which is currently externally managed by Pine River Capital Management LP. As of Wednesday’s close, the company’s share price has fallen 76% since the end of 2019 to $4.36, giving it a market value of roughly $240 million. Its share price was $18.68 as recently as February 20.Mortgage REITs, or real estate investment trusts, have been roiled by the coronavirus pandemic and the subsequent lockdowns, which may prevent property owners from collecting tenant rents. This in turn may lead to missed mortgage payments and a decline in property values. The damage has been amplified by leverage and associated margin calls from financiers, which forced some firms to sell portfolios of debt at a discount.Granite Point, led by president and chief executive Jack Taylor, moved to address the impact of the pandemic in March by suspending its first-quarter dividend to “conserve available liquidity,” posting cash collateral with respect to certain loans and entering into “constructive discussions” with lenders.As of March 25, its commercial real estate investment portfolio was roughly 98.8% senior loans, with the remaining 1.2% equally split across subordinated loans and securities, the firm said. The portfolio was spread across geographies and property types, and financed through a mix of term-matched, non-mark-to-market collateralized-loan obligations and asset-specific financings, as well as secured revolving repurchase facilities.“The extraordinary macroeconomic events manifesting as a result of the COVID-19 pandemic have negatively impacted the overall level of liquidity across capital markets, including the commercial real estate loan market,” the company said at the time, adding that such events may negatively affect the performance of commercial real estate properties. “There can be no assurances that macroeconomic conditions will not worsen, which may negatively impact the company,” it added.A number of the mortgage REIT’s peers have tapped advisers in an effort to shore up liquidity amid ongoing uncertainty. Ladder Capital Corp. secured strategic financings earlier this week, as previously reported by Bloomberg. Two Harbors Investment Corp. agreed last month to pay Pine River $144 million to end its management agreement, a move designed to attract new investors.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Increased analyst coverage over the last few weeks might lead to solid price appreciation for these stocks.
Granite Point Mortgage Trust Inc. Announces Earnings Release and Conference Call for First Quarter 2020 Financial Results
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Granite Point Mortgage Trust Inc. Reports Fourth Quarter and Full Year 2019 Financial Results Announces Process to Internalize Management Function
Granite Point Mortgage Trust Inc. Reports First Quarter 2020 Financial Results and Post Quarter-End Update