Granite Point Mortgage Trust: 2Q Earnings Snapshot

Associated Press
Updated ·1 min read

NEW YORK (AP) _ Granite Point Mortgage Trust Inc. (GPMT) on Monday reported a second-quarter loss of $1.7 million, after reporting a profit in the same period a year earlier.

The New York-based company said it had a loss of 3 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 25 cents per share.

The real estate investment trust posted revenue of $60.9 million in the period. Its adjusted revenue was $34.4 million.

Granite Point Mortgage Trust shares have fallen 58% since the beginning of the year. In the final minutes of trading on Monday, shares hit $7.71, a drop of 59% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GPMT at https://www.zacks.com/ap/GPMT