GPMT Stock Summary and Trading Ideas (Granite Point Mortgage Trust | NYSE:GPMT)

Granite Point Mortgage Trust Inc focuses on directly originating, investing in, and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments. The company constructs its investment portfolio on a loan-by-loan basis, emphasizing rigorous credit underwriting, selectivity, and diversification, and assesses each investment from a fundamental value perspective relative to other opportunities available in the market. It typically provides intermediate-term bridge or transitional financing for a variety of purposes, including acquisitions, recapitalizations, refinancing, and a range of business plans, including lease-up, renovation, repositioning, and repurposing of the property.

Granite Point Mortgage Trust trades on the NYSE stock market under the symbol GPMT.

As of April 18, 2024, GPMT stock price climbed to $4.31 with 307,335 million shares trading.

GPMT has a beta of 2.18, meaning it tends to be more sensitive to market movements. GPMT has a correlation of 0.43 to the broad based SPY ETF.

GPMT has a market cap of $222.30 million. This is considered a Small Cap stock.

Last quarter Granite Point Mortgage Trust reported $17 million in Revenue and $.14 earnings per share. This fell short of revenue expectation by $-2 million and exceeded earnings estimates by $.43.

In the last 3 years, GPMT stock traded as high as $15.92 and as low as $3.97.

The top ETF exchange traded funds that GPMT belongs to (by Net Assets): VTI, IWM, VXF, REM, FNDA.

GPMT has underperformed the market in the last year with a price return of +4.3% while the SPY ETF gained +22.3%. GPMT has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -19.5% and -4.2%, respectively, while the SPY returned +6.1% and -3.8%, respectively.

GPMT support price is $4.18 and resistance is $4.38 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GPMT stock will trade within this expected range on the day.