Granite Point Mortgage Trust Inc. (GPMT) vs Great Ajax Corp. (RPT)

Granite Point Mortgage Trust Inc. and Great Ajax Corp. are both Reit Mortgage companies. Great Ajax Corp. is the larger, with a market value of $85.1M against $45.4M — 1.9× the size. Granite Point Mortgage Trust Inc. grew revenue faster over the last twelve months: −2.40% against −77.3%. Great Ajax Corp. has the higher net margin (−14.4% vs −314.1%) and the higher return on invested capital (0.27% vs −2.91%). Both pay a dividend; Granite Point Mortgage Trust Inc. yields more (15.4% vs 14.9%). Across the 18 metrics below, Granite Point Mortgage Trust Inc. leads on 10 and Great Ajax Corp. on 8.

Valuation

Metric GPMT RPT Reit Mortgage median
P/E n/m n/m 7.80
P/S 1.44 5.56 1.90
P/B 0.09 0.36 0.61
Price to free cash flow 72.87 n/m 5.90
EV/EBITDA n/m 117.77 28.40
EV/Sales 32.61 35.85 16.02
Earnings yield (218.48%) (2.41%) 7.68%
Free cash flow yield 1.37% (10.74%) 11.60%

Profitability

Metric GPMT RPT Reit Mortgage median
Gross margin 100.00% 100.00% 100.00%
Operating margin (151.32%) 21.02% 35.40%
Net margin (314.14%) (14.42%) 11.85%
Free cash flow margin 1.98% (59.65%) 26.68%
Return on equity (18.04%) (0.91%) 4.81%
Return on assets (5.68%) (0.22%) 0.62%
Return on invested capital (2.91%) 0.27% 1.22%

Growth

Metric GPMT RPT Reit Mortgage median
Revenue growth (TTM) (2.40%) (77.29%) 4.70%
EPS growth (last fiscal year) 73.58% 97.38% —
Revenue growth, 5-year CAGR (22.97%) (24.69%) 14.60%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GPMT RPT Reit Mortgage median
Debt to equity 1.29 1.84 3.30
Current ratio 0.00 1.00 1.00
Net debt to EBITDA (94.92) 181.49 18.31

Dividend

Metric GPMT RPT Reit Mortgage median
Dividend yield 15.38% 14.89% 13.05%
Payout ratio 5.88 0.47 1.24

Size

Metric GPMT RPT Reit Mortgage median
Market cap 45.44m 85.11m 517.48m

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