Short Interest in Granite Point Mortgage Trust Inc. (NYSE:GPMT) Grows By 9.7%

Granite Point Mortgage Trust Inc. (NYSE:GPMT) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 1,130,000 shares, an increase of 9.7% from the September 15th total of 1,030,000 shares. Based on an average trading volume of 392,600 shares, the days-to-cover ratio is currently 2.9 days. Currently, 2.3% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their price objective on shares of Granite Point Mortgage Trust from $3.25 to $2.75 and set an “underperform” rating for the company in a research report on Monday, August 12th.

Granite Point Mortgage Trust Stock Down 0.3 %

Granite Point Mortgage Trust stock traded down $0.01 during trading hours on Thursday, hitting $3.12. The stock had a trading volume of 175,968 shares, compared to its average volume of 433,296. The stock has a market cap of $159.23 million, a price-to-earnings ratio of -1.34 and a beta of 1.79. The business’s 50 day simple moving average is $2.79 and its 200-day simple moving average is $3.23. Granite Point Mortgage Trust has a one year low of $2.46 and a one year high of $6.41.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date was Tuesday, October 1st. Granite Point Mortgage Trust’s payout ratio is -8.66%.

Hedge Funds Weigh In On Granite Point Mortgage Trust

Hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its position in shares of Granite Point Mortgage Trust by 2.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 118,793 shares of the company’s stock worth $567,000 after acquiring an additional 3,336 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Granite Point Mortgage Trust by 8.7% in the second quarter. Hsbc Holdings PLC now owns 59,938 shares of the company’s stock valued at $170,000 after buying an additional 4,805 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Granite Point Mortgage Trust by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,684 shares of the company’s stock worth $70,000 after acquiring an additional 4,807 shares during the period. Naviter Wealth LLC raised its position in shares of Granite Point Mortgage Trust by 53.6% in the 2nd quarter. Naviter Wealth LLC now owns 21,500 shares of the company’s stock worth $64,000 after acquiring an additional 7,500 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Granite Point Mortgage Trust by 35.6% in the 1st quarter. BNP Paribas Financial Markets now owns 32,360 shares of the company’s stock valued at $154,000 after purchasing an additional 8,490 shares during the period. Institutional investors and hedge funds own 51.63% of the company’s stock.

Granite Point Mortgage Trust Company Profile

Granite Point Mortgage Trust Inc, a real estate investment trust, originates, invests in, and manages senior floating-rate commercial mortgage loans, and other debt and debt-like commercial real estate investments in the United States. The company provides intermediate-term bridge or transitional financing for various purposes, including acquisitions, recapitalizations, and refinancing, as well as a range of business plans, including lease-up, renovation, repositioning, and repurposing of the commercial property.