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Granite Point Mortgage Trust: 3Q Earnings Snapshot

·1 min read

NEW YORK (AP) _ Granite Point Mortgage Trust Inc. (GPMT) on Monday reported a third-quarter loss of $24.7 million, after reporting a profit in the same period a year earlier.

The New York-based company said it had a loss of 45 cents per share. Earnings, adjusted for one-time gains and costs, were 27 cents per share.

The real estate investment trust posted revenue of $53.7 million in the period. Its adjusted revenue was $29.7 million.

Granite Point Mortgage Trust shares have dropped 56% since the beginning of the year. In the final minutes of trading on Monday, shares hit $8.07, a decrease of 56% 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