From Financial Modeling Prep: 2024-12-31 02:55:00

Raymond James analysts reaffirmed an Outperform rating and $4 price target for Granite Point Mortgage Trust (NYSE:GPMT) after the company’s December 19 update. Progress in resolving loan concerns and potential for improved portfolio performance were highlighted.

Granite Point’s Q4 dividend remained steady, with three loans resolved and three more anticipated soon. The company repurchased 1.2 million shares, enhancing shareholder value. Analysts updated estimates to reflect these developments, noting the positive impact of loan resolutions and share buybacks.

Analysts believe the current valuation of Granite Point overly accounts for credit concerns and underestimates earnings potential post non-accrual asset resolution. The company’s progress in managing its portfolio positions it for stronger earnings, supporting the Outperform rating.



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