NYSE:GPMT

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Executive Summary

Granite Point Mortgage Trust Inc. 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.


Snowflake Analysis

Reasonable growth potential and slightly overvalued.


Similar Companies

Share Price & News

How has Granite Point Mortgage Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: GPMT's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.7%

GPMT

-1.8%

US Mortgage REITs

2.3%

US Market


1 Year Return

-65.7%

GPMT

-42.6%

US Mortgage REITs

6.7%

US Market

Return vs Industry: GPMT underperformed the US Mortgage REITs industry which returned -43.1% over the past year.

Return vs Market: GPMT underperformed the US Market which returned 6% over the past year.


Shareholder returns

GPMTIndustryMarket
7 Day-2.7%-1.8%2.3%
30 Day-18.7%-16.1%-0.7%
90 Day16.5%8.3%17.1%
1 Year-64.1%-65.7%-35.8%-42.6%9.0%6.7%
3 Year-57.5%-65.8%-26.0%-47.1%36.7%27.8%
5 Yearn/a0.4%-42.8%65.2%46.9%

Price Volatility Vs. Market

How volatile is Granite Point Mortgage Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Granite Point Mortgage Trust undervalued compared to its fair value and its price relative to the market?

22.46x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: GPMT ($6.55) is trading above our estimate of fair value ($5.75)

Significantly Below Fair Value: GPMT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: GPMT is poor value based on its PE Ratio (22.5x) compared to the Mortgage REITs industry average (20.6x).

PE vs Market: GPMT is poor value based on its PE Ratio (22.5x) compared to the US market (16.1x).


Price to Earnings Growth Ratio

PEG Ratio: GPMT is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: GPMT is good value based on its PB Ratio (0.4x) compared to the US Mortgage REITs industry average (0.6x).


Next Steps

Future Growth

How is Granite Point Mortgage Trust forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

90.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GPMT's forecast earnings growth (90% per year) is above the savings rate (2.2%).

Earnings vs Market: GPMT's earnings (90% per year) are forecast to grow faster than the US market (22.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: GPMT's revenue (13.4% per year) is forecast to grow faster than the US market (9.3% per year).

High Growth Revenue: GPMT's revenue (13.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GPMT's Return on Equity is forecast to be low in 3 years time (4.8%).


Next Steps

Past Performance

How has Granite Point Mortgage Trust performed over the past 5 years?

29.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GPMT has high quality earnings.

Growing Profit Margin: GPMT's current net profit margins (26.7%) are lower than last year (66.4%).


Past Earnings Growth Analysis

Earnings Trend: GPMT's earnings have grown significantly by 29.7% per year over the past 5 years.

Accelerating Growth: GPMT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: GPMT had negative earnings growth (-75.6%) over the past year, making it difficult to compare to the Mortgage REITs industry average (-42.8%).


Return on Equity

High ROE: GPMT's Return on Equity (1.7%) is considered low.


Next Steps

Financial Health

How is Granite Point Mortgage Trust's financial position?


Financial Position Analysis

Short Term Liabilities: GPMT's short term assets ($4.4B) exceed its short term liabilities ($360.1M).

Long Term Liabilities: GPMT's short term assets ($4.4B) exceed its long term liabilities ($3.2B).


Debt to Equity History and Analysis

Debt Level: GPMT's debt to equity ratio (361.9%) is considered high.

Reducing Debt: Insufficient data to determine if GPMT's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: GPMT's debt is not well covered by operating cash flow (0.2%).

Interest Coverage: Insufficient data to determine if GPMT's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

What is Granite Point Mortgage Trust current dividend yield, its reliability and sustainability?

11.40%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate GPMT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate GPMT's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if GPMT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if GPMT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: GPMT is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of GPMT's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.3yrs

Average management tenure


CEO

Jack Taylor (64yo)

3.25yrs

Tenure

US$1,416,298

Compensation

Mr. John A. Taylor, also known as Jack, J.D., is Chief Executive Officer of Granite Point Mortgage Trust Inc. since April 7, 2017 and is its President. Mr. Taylor is Chief Executive Officer and Chief Inves ...


Leadership Team

NamePositionTenureCompensationOwnership
John Taylor
President3.25yrsUS$1.42m0.48% $1.7m
Marcin Urbaszek
VP, CFO3.25yrsUS$292.18k0.10% $372.9k
Steven Plust
VP & COO3.25yrsUS$859.34k0.32% $1.1m
Stephen Alpart
VP, Chief Investment Officer & Co-Head of Originations3.25yrsUS$859.34k0.26% $944.1k
Rebecca Sandberg
VP & Secretaryno dataUS$86.60k0.058% $208.3k
Michael Karber
VP, General Counsel & Assistant Secretary0.50yrno data0.039% $142.2k
Peter Morral
Co-Head of Originations2.5yrsno datano data
Chris Petta
Investor Relations Officerno datano datano data

3.3yrs

Average Tenure

52yo

Average Age

Experienced Management: GPMT's management team is considered experienced (3.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
John Taylor
President3.25yrsUS$1.42m0.48% $1.7m
Stephen Kasnet
Independent Chairman of the Board1.58yrsUS$186.24k0.084% $301.8k
Martin Kamarck
Independent Director3.5yrsUS$129.99k0.041% $147.6k
William Sanders
Independent Director3.5yrsUS$124.99k0.16% $587.0k
Tanuja Dehne
Independent Director3.5yrsUS$129.99k0.043% $154.1k
Hope Woodhouse
Independent Director3.08yrsUS$124.99k0.058% $210.4k

3.5yrs

Average Tenure

67yo

Average Age

Experienced Board: GPMT's board of directors are considered experienced (3.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.6%.


Top Shareholders

Company Information

Granite Point Mortgage Trust Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Granite Point Mortgage Trust Inc.
  • Ticker: GPMT
  • Exchange: NYSE
  • Founded: 2015
  • Industry: Mortgage REITs
  • Sector: Diversified Financials
  • Market Cap: US$361.147m
  • Shares outstanding: 55.14m
  • Website: https://www.gpmortgagetrust.com

Location

  • Granite Point Mortgage Trust Inc.
  • 3 Bryant Park
  • Suite 2400A
  • New York
  • New York
  • 10036
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GPMTNYSE (New York Stock Exchange)YesNew Common StockUSUSDJun 2017
G18DB (Deutsche Boerse AG)YesNew Common StockDEEURJun 2017

Biography

Granite Point Mortgage Trust Inc. 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. As of December 31, 2018, its investment portfolio includes 94 commercial real estate debt investments. The company intends to qualify as a real estate investment trust for federal income tax purposes. Granite Point Mortgage Trust Inc. was founded in 2015 and is headquartered in New York, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/09 00:05
End of Day Share Price2020/07/08 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.