Granite Point Mortgage Trust: 1Q Earnings Snapshot
NEW YORK (AP) _ Granite Point Mortgage Trust Inc. (GPMT) on Monday reported a first-quarter loss of $37.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the New York-based company said it had a loss of 68 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 32 cents per share.
The real estate investment trust posted revenue of $64.2 million in the period. Its adjusted revenue was $29.2 million.
In the final minutes of trading on Monday, the company’s shares hit $4.41. A year ago, they were trading at $19.01.