9.2% Dividend Yield With Earnings Growth Merits A Closer Look

Shares of this company rallied up as high as $19.00 and seem to have found an artificial price ceiling there. The earnings call was seen favorably by most market participants with the stock easily outperforming peers 11/06/2018. Management commentary regarding a fourth-quarter earnings headwind makes it more difficult to see it smashing through that artificial ceiling. The current dividend level still looks solid, but growth may be slowed. Buy-and-hold investors are entering hold territory. Wait for dips to add. Traders can take gains and reallocate.

Granite Point Mortgage Trust (GPMT) has been on our radar since the IPO. It was our largest position for large parts of 2018. However, our rating is now neutral. The Q3 2018 earnings call was a significant factor in our decision to lower the rating. We provided a complete breakdown of Granite Point's Q3 2018 presentation.

Source: Seeking Alpha

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