Granite Point Mortgage Trust Inc. (NYSE:GPMT) Relative Strength Index (RSI) is 67.59, with weekly volatility at 3.01% and ATR at 0.44. The GPMT stock’s 52-week price range has touched low of $4.74 and a $14.09 high. Intraday shares traded counted 0.37 million, which was 12.34% higher than its 30-day average trading volume of 424.82K. Its shares traded higher over the last trading session, gaining 0.94% on 05/20/21. The shares fell to a low of $13.7807 before closing at $14.01. GPMT’s previous close was $13.88 while the outstanding shares total 55.14M. The firm has a beta of 1.59, a 12-month trailing P/E ratio of 42.58, and a growth ratio of 20.03.
Investors have identified the REIT – Mortgage company Granite Point Mortgage Trust Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $726.00 million, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Potential earnings growth for Granite Point Mortgage Trust Inc. (GPMT)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 08/09/2021 quarter of the year, Granite Point Mortgage Trust Inc. recorded a total of 27.77 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -5.08% coming in sequential stages and their sales for the 08/09/2021 quarter increasing by 1.43%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent -0.22 million trying to sell their products during the last quarter, with the result yielding a gross income of 27.99 million. This allows shareholders to hold on to 55.14M with the recently reported earning now reading 0.51 cents per share. This is a figure that compared to analyst’s prediction for their 08/09/2021 (0.36 cents a share).
Having a look at the company’s valuation, the company is expected to record 1.04 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on GPMT sounds very interesting.
Is the stock of GPMT attractive?
In related news, President and CEO, TAYLOR JOHN A sold 13,806 shares of the company’s stock in a transaction that recorded on Jun 23. The sale was performed at an average price of 7.17, for a total value of 99,040. As the sale deal closes, the Secretary, Sandberg Rebecca B now sold 1,532 shares of the company’s stock, valued at 10,977. Also, Chief Financial Officer, URBASZEK MARCIN sold 2,219 shares of the company’s stock in a deal that was recorded on Jun 23. The shares were price at an average price of 7.17 per share, with a total market value of 15,917. Following this completion of acquisition, the Chief Investment Officer, ALPART STEPHEN now holds 2,971 shares of the company’s stock, valued at 21,319. In the last 6 months, insiders have changed their ownership in shares of company stock by 1.20%.
2 out of 6 analysts covering the stock have rated it a Buy, while 3 have maintained a Hold recommendation on Granite Point Mortgage Trust Inc.. 0 analysts has assigned a Sell rating on the GPMT stock. The 12-month mean consensus price target for the company’s shares has been set at $12.35.