Granite Point Mortgage Trust: Book Value Continues To Dip With Discount At 65%
Summarize this article with:
Pacifica Yield13.39K FollowersFollow5ShareSavePlay(6min)CommentsSummaryGranite Point Mortgage Trust generated negative distributable earnings of $0.40 per share during the recent third quarter, ramping up the risk of its 7.25% dividend yield.The mREIT saw its book value per share dip by 5 cents sequentially to $7.94 per share, with the common shares currently trading at a 65% discount to this figure.GPMT's Series A Preferreds have seen their discount to liquidation value per share narrow significantly since the spring and currently pay a fixed dividend yield of 8.86%. DenisTangneyJr/iStock via Getty Images Granite Point Mortgage Trust (GPMT) faces continued headwinds with its commercial real estate credit portfolio, with a truncated but not yet covered dividend yield offering a sweetener to its shareholders. The mREIT last declared a quarterlyThis article was written byPacifica Yield13.39K FollowersFollowThe equity market is a powerful mechanism as daily fluctuations in price get aggregated to incredible wealth creation or destruction over the long term. Pacifica Yield aims to pursue long-term wealth creation with a focus on undervalued yet high-growth companies, high-dividend tickers, REITs, and green energy firms.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Recommended For You