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. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 2015 and is headquartered in New York, New York.

Granite Point Mortgage Trust Inc.

(RTTNews) - Granite Point Mortgage Trust Inc. (GPMT), a real estate investment trust, said on Tuesday that it has appointed Ethan Lebowitz, Managing Director, as Chief Operating Officer to succeed Steven Plust by May 1.
Lebowitz will serve as Deputy Chief Operating Officer until the COO transition is effective.
Following the transition, Plust will remain with Granite Point as a Senior Managing Director until his retirement, which will be no later than December 31, 2027.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Granite Point Mortgage Appoints Ethan Lebowitz As COO

AvalonBay Communities announced today that its Board of Directors declared a cash dividend on the Company's Common Stock for the third quarter of 2024. The Common Stock dividend is $1.70 per share and is payable October 15, 2024, to all Common Stockholders of Record as of September 30, 2024.
Granite Point Mortgage Trust today announced that the Company's Board of Directors declared a quarterly cash dividend of $0.05 per share of common stock for the third quarter of 2024. This dividend is payable on October 15, 2024, to holders of record of common stock at the close of business on October 1, 2024.
Rithm Capital announced today that its Board of Directors has declared third quarter 2024 common and preferred stock dividends. The Board declared a dividend of $0.25 per share of common stock for the third quarter 2024. The third quarter common stock dividend is payable on November 1, 2024, to shareholders of record on October 1, 2024.
On September 20, 2024 the Ennis Board of Directors declared a quarterly cash dividend of 25.0 cents per share on the Company's common stock. The Board of Directors also approved a one-time special dividend of $2.50 per share. Regarding the Board's approval of the special dividend, Keith Walters, Chairman, Chief Executive Officer and President, commented by stating, "The Board's approval of a special dividend of $2.50 per share allows the shareholders to further share in the Company's accumulated profits. At the same time, given the Company's lack of debt, ample cash reserves, and strong free cash flow, the Company still has the necessary cash resources for its operations, capital investments and the continued funding of its ongoing acquisitions program." The ordinary dividend and special dividend are both payable on November 8, 2024 to shareholders of record on October 11, 2024.
Mesa Royalty Trust announced today the Trust income distribution for the month of September 2024. Unitholders of record on September 30, 2024 will receive distributions amounting to $0.003733319 per unit, payable on October 31, 2024.
About Ennis
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Daily Dividend Report: AVB,GPMT,RITM,EBF,MTR

(RTTNews) - Granite Point Mortgage Trust Inc. (GPMT) announced on Monday that Blake Johnson will take on the role of chief financial officer, starting December 1, 2024. Prior to this appointment, Johnson will join the company as Deputy CFO by October 28, 2024.
This transition follows the resignation of current CFO Marcin Urbaszek, who is leaving to pursue a new opportunity with a global financial institution. The company stated that Urbaszek will continue with Granite Point until Johnson officially takes over in December.
Johnson brings nearly 20 years of experience in finance to Granite Point, having previously held the position of Controller and currently serving as Acting Chief Accounting Officer at Two Harbors Investment Corp.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Granite Point Appoints Blake Johnson As CFO

Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund (XLF) adding 0.4%.
The Philadelphia Housing Index was shedding 0.6%, and the Real Estate Select Sector SPDR Fund (XLRE) fell 0.8%.
Bitcoin (BTC-USD) was declining 1.5% to $62,183, and the yield for 10-year US Treasuries was rising 3.5 basis points to 4.50%.
In economic news, mortgage applications in the US rebounded for the first time in three weeks, as rates across all loan types fell following a weaker-than-expected jobs report last week, the Mortgage Bankers Association said.
Wholesale inventories fell by 0.4% in March, unrevised from the advance reading, as expected in a survey compiled by Bloomberg and following a 0.2% gain in February.
In corporate news, Citizens (CIA) shares spiked 12.3% in recent trading, a day after the company reported higher Q1 revenue.
Granite Point Mortgage Trust (GPMT) shares plunged 12.8% in recent trading, a day after it reported its Q1 earnings.
Payoneer Global (PAYO) reported Q1 earnings of $0.08 per share, up from $0.02 a year earlier. Analysts polled by Capital IQ expected $0.05. Its shares surged 12.5%.
Apollo Global Management (APO) has lined up $1.1 billion of debt financing for its purchase of US Silica, Bloomberg reported. Apollo was shedding 0.2%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Financial Sector Update for 05/08/2024: CIA, GPMT, APO, PAYO

KKR Real Estate Finance (KREF) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.48 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 5.41%. A quarter ago, it was expected that this real estate finance company would post earnings of $0.45 per share when it actually produced earnings of $0.47, delivering a surprise of 4.44%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
KKR Real Estate, which belongs to the Zacks REIT and Equity Trust industry, posted revenues of $39.14 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 9.29%. This compares to year-ago revenues of $46.55 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
KKR Real Estate shares have lost about 25.6% since the beginning of the year versus the S&P 500's gain of 5.1%.
What's Next for KKR Real Estate?
While KKR Real Estate has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for KKR Real Estate: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.35 on $41.34 million in revenues for the coming quarter and $1.38 on $164.85 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust is currently in the bottom 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Granite Point Mortgage Trust (GPMT), is yet to report results for the quarter ended March 2024.
This real estate investment trust is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of -50%. The consensus EPS estimate for the quarter has been revised 160% higher over the last 30 days to the current level.
Granite Point Mortgage Trust's revenues are expected to be $15.2 million, down 33.7% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

KKR Real Estate Finance (KREF) Q1 Earnings Surpass Estimates

On 3/28/24, Granite Point Mortgage Trust Inc's 7.0% Ser A Fix/Float Cumul Prrd Stock (Symbol: GPMT.PRA) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 4/15/24. As a percentage of GPMT.PRA's recent share price of $17.95, this dividend works out to approximately 2.44%, so look for shares of GPMT.PRA to trade 2.44% lower — all else being equal — when GPMT.PRA shares open for trading on 3/28/24. On an annualized basis, the current yield is approximately 9.71%, which compares to an average yield of 7.70% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of GPMT.PRA shares, versus GPMT:
Below is a dividend history chart for GPMT.PRA, showing historical dividends prior to the most recent $0.4375 on Granite Point Mortgage Trust Inc's 7.0% Ser A Fix/Float Cumul Prrd Stock:
In Tuesday trading, Granite Point Mortgage Trust Inc's 7.0% Ser A Fix/Float Cumul Prrd Stock (Symbol: GPMT.PRA) is currently off about 0.4% on the day, while the common shares (Symbol: GPMT) are down about 0.8%.
Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Cash Dividend On The Way From Granite Point Mortgage Trust Preferred Stock

Fintel reports that on August 17, 2023, JMP Securities reiterated coverage of Granite Point Mortgage Trust (NYSE:GPMT) with a Market Outperform recommendation.
Analyst Price Forecast Suggests 45.35% Upside
As of August 2, 2023, the average one-year price target for Granite Point Mortgage Trust is 7.27. The forecasts range from a low of 5.56 to a high of $9.45. The average price target represents an increase of 45.35% from its latest reported closing price of 5.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Granite Point Mortgage Trust is 92MM. The projected annual non-GAAP EPS is 0.91.
What is the Fund Sentiment?
There are 308 funds or institutions reporting positions in Granite Point Mortgage Trust. This is a decrease of 27 owner(s) or 8.06% in the last quarter. Average portfolio weight of all funds dedicated to GPMT is 0.05%, an increase of 6.79%. Total shares owned by institutions decreased in the last three months by 2.94% to 29,624K shares. The put/call ratio of GPMT is 0.23, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,932K shares representing 7.62% ownership of the company. In it's prior filing, the firm reported owning 3,850K shares, representing an increase of 2.08%. The firm decreased its portfolio allocation in GPMT by 22.68% over the last quarter.
Millennium Management holds 2,176K shares representing 4.22% ownership of the company. In it's prior filing, the firm reported owning 193K shares, representing an increase of 91.13%. The firm increased its portfolio allocation in GPMT by 980.99% over the last quarter.
Citadel Advisors holds 1,703K shares representing 3.30% ownership of the company. In it's prior filing, the firm reported owning 559K shares, representing an increase of 67.18%. The firm increased its portfolio allocation in GPMT by 165.47% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,593K shares representing 3.09% ownership of the company. No change in the last quarter.
TIBAX - Thornburg Investment Income Builder Fund - holds 1,418K shares representing 2.75% ownership of the company. No change in the last quarter.
Granite Point Mortgage Trust Background Information
(This description is provided by the company.)
Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing inand managing senior floating rate commercial mortgage loans and other debt and debt-like commercial realestate investments. Granite Point is headquartered in New York, NY.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Granite Point Mortgage Trust Inc.

Price history and volume

Shares 360

Investment risk — low

Investment potential — low

Security parameters