02:36 PM EDT, 05/08/2024 (MT Newswires) -- Granite Point Mortgage Trust ( GPMT ) shares were down more than 11% in recent Wednesday trading, a day after the company reported its Q1 earnings.

The company reported a Q1 diluted loss of $1.53 per share, widening from a loss of $0.72 per share a year earlier.

Analysts polled by Capital IQ expected a loss of $0.06 per share.

Net interest income for the three months ended March 31 was $12.5 million, down from $22.9 million a year earlier.

Analysts polled by Capital IQ expected $15.3 million.

Price: 3.88, Change: -0.50, Percent Change: -11.42