Is Granite Point Mortgage Trust, Inc. overvalued or undervalued?

As of 8 November 2022, Granite Point Mortgage Trust, Inc. has moved from a very attractive valuation grade to a risky one. The company appears to be overvalued given its current financial metrics. Key ratios include a Price to Book Value of 0.21, an EV to EBITDA of 0.19, and a Dividend Yield of 614.27%, which, while high, is indicative of underlying issues given the company's loss-making status.
In comparison to peers, Granite Point's valuation is significantly lower than that of Orchid Island Capital, Inc., which has a P/E ratio of 21.15 and an EV to EBITDA of 0.76, and One Liberty Properties, Inc., with a P/E of 17.89 and an EV to EBITDA of 9.15. These comparisons highlight the challenges Granite Point faces in the market. Additionally, the company's stock has underperformed against the S&P 500 over the past year, further reinforcing the notion that it is currently overvalued.