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Inflation Report

One NYSE-REITs to Consider In The Current High Inflationary Environment: Granite Point Mortgage Trust Inc

Apr 28, 2023

Section 1: Company Fundamentals

1.1 Company Overview:

Granite Point Mortgage Trust Inc. (NYSE: GPMT) is an internally managed real estate finance company. The Company is focused primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt and debt-like commercial real estate investments. The Company’s investment objective is to generate attractive risk-adjusted returns over the long term, primarily through dividends, and to preserve its capital base through business cycles.

Kalkine’s US Inflation Report covers the Company Overview, Key positives & negatives, Investment summary, Business updates and insights into company recent financial results, Key Risks & Outlook, Price performance and technical summary, Target Price, and Recommendation on the stock.

Stock Performance:

  • The stock has corrected by 30.16% in the last three months as well as by 57.87% in the last nine months.
  • The stock is leaning towards the lower band of its 52-week range of USD 11.15 and 52-week low price of USD 4.18. The price is currently closer to its 52-week low and important support rang of USD 3.50- USD 4.00.
  • The price is currently trading below both its short-term (50-day) SMA and long-term (200-day) SMA, with the current RSI of 39.96,with the expectation of a continuation of the upward momentum after a healthy correction.

1.2 Summary Table

1.3 The Key Positives, Negatives and Investment Summary:

   

Section 2: Granite Point Mortgage Trust Inc (“Buy” at USD 4.47, current market price as of April 28, 2023, at 07:40 am PDT)

2.1 Company Details

2.2 Valuation and Technical Guidance

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is April 28, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: The report publishing date is as per the Pacific Time Zone.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

 Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

 Stop-loss: It is a level to protect against further losses in case of unfavorable movement in the stock prices.


Disclaimer-

Kalkine Equities LLC provides general information about companies and their securities. The information contained in the reports, including any recommendations regarding the value of or transactions in any securities, does not take into account any of your investment objectives, financial situation or needs. Kalkine Equities LLC is not registered as an investment adviser in the U.S. with either the federal or state government. Before you make a decision about whether to invest in any securities, you should take into account your own objectives, financial situation and needs and seek independent financial advice. All information in our reports represents our views as at the date of publication and may change without notice.

Kalkine Media LLC, an affiliate of Kalkine Equities LLC, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.