Granite Point Mortgage Trust Full Year 2023 Earnings: Misses Expectations

Granite Point Mortgage Trust (NYSE:GPMT) Full Year 2023 Results

Key Financial Results

• Net loss: US$77.6m (loss widened by 40% from FY 2022).
• US$1.50 loss per share (further deteriorated from US$1.04 loss in FY 2022).

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 3.2%. Earnings per share (EPS) also missed analyst estimates by 35%.

Looking ahead, revenue is forecast to grow 90% p.a. on average during the next 2 years, compared to a 40% growth forecast for the Mortgage REITs industry in the US.

Performance of the American Mortgage REITs industry.

The company's shares are up 3.2% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 3 warning signs for Granite Point Mortgage Trust (2 are concerning!) that you should be aware of.

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