Granite Point Mortgage Trust Inc. (NYSE:GPMT) Short Interest Update

Granite Point Mortgage Trust Inc. (NYSE:GPMT) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,250,000 shares, a decline of 11.3% from the October 15th total of 1,410,000 shares. Based on an average daily trading volume, of 365,500 shares, the days-to-cover ratio is currently 3.4 days. Currently, 2.6% of the company’s shares are short sold.

Hedge Funds Weigh In On Granite Point Mortgage Trust

Large investors have recently made changes to their positions in the company. M&T Bank Corp acquired a new position in Granite Point Mortgage Trust in the third quarter valued at about $61,000. Barclays PLC increased its holdings in Granite Point Mortgage Trust by 64.4% in the 3rd quarter. Barclays PLC now owns 115,750 shares of the company’s stock valued at $367,000 after buying an additional 45,323 shares during the period. Jane Street Group LLC raised its position in shares of Granite Point Mortgage Trust by 28.3% in the 3rd quarter. Jane Street Group LLC now owns 110,362 shares of the company’s stock valued at $350,000 after buying an additional 24,313 shares in the last quarter. FMR LLC lifted its holdings in shares of Granite Point Mortgage Trust by 237.2% during the 3rd quarter. FMR LLC now owns 8,296 shares of the company’s stock worth $26,000 after acquiring an additional 5,836 shares during the period. Finally, Penserra Capital Management LLC boosted its position in shares of Granite Point Mortgage Trust by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 318,670 shares of the company’s stock worth $1,010,000 after acquiring an additional 59,520 shares in the last quarter. Institutional investors own 51.63% of the company’s stock.

Granite Point Mortgage Trust Stock Up 2.1 %

Shares of NYSE:GPMT traded up $0.07 during midday trading on Monday, reaching $3.33. 253,910 shares of the company were exchanged, compared to its average volume of 430,766. The firm has a market cap of $166.36 million, a PE ratio of -0.84 and a beta of 1.79. Granite Point Mortgage Trust has a fifty-two week low of $2.46 and a fifty-two week high of $6.41. The stock has a fifty day simple moving average of $3.01 and a two-hundred day simple moving average of $3.02.

Granite Point Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.05 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.20 annualized dividend and a dividend yield of 6.01%. Granite Point Mortgage Trust’s dividend payout ratio is currently -5.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Granite Point Mortgage Trust from $3.50 to $4.00 and gave the stock a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods increased their price target on Granite Point Mortgage Trust from $2.75 to $3.00 and gave the stock an “underperform” rating in a report on Tuesday, November 12th.

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.