Granite Point Mortgage Trust (NYSE:GPMT) Second Quarter 2024 Results

Key Financial Results

• Net loss: US$66.7m (down from US$996.0k profit in 2Q 2023).

• US$1.31 loss per share (down from US$0.019 profit in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Granite Point Mortgage Trust Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 21%. Earnings per share (EPS) also missed analyst estimates significantly.

Looking ahead, revenue is forecast to grow 95% p.a. on average during the next 3 years, compared to a 42% growth forecast for the Mortgage REITs industry in the US.

Performance of the American Mortgage REITs industry.

The company's shares are down 15% from a week ago.

Risk Analysis

We should say that we've discovered 3 warning signs for Granite Point Mortgage Trust that you should be aware of before investing here.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]