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

Granite Point Mortgage Trust Inc. (NYSE:GPMT) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 79,522 shares, a decrease of 58.2% from the December 15th total of 190,416 shares. Based on an average daily trading volume, of 257,174 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the company’s shares are short sold. Approximately 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 257,174 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Zacks Research upgraded Granite Point Mortgage Trust to a “hold” rating in a report on Friday, December 19th. Compass Point set a $2.50 price target on Granite Point Mortgage Trust in a research report on Thursday, January 8th. Wall Street Zen upgraded Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Keefe, Bruyette & Woods dropped their target price on shares of Granite Point Mortgage Trust from $2.75 to $2.50 and set a “market perform” rating on the stock in a report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.83.

Granite Point Mortgage Trust Stock Up 2.2%

Granite Point Mortgage Trust stock traded up $0.06 during trading hours on Friday, hitting $2.53. The stock had a trading volume of 212,301 shares, compared to its average volume of 223,400. The stock has a market capitalization of $119.71 million, a P/E ratio of -1.75 and a beta of 1.72. Granite Point Mortgage Trust has a 12-month low of $1.61 and a 12-month high of $3.19. The stock’s 50-day moving average price is $2.57 and its 200-day moving average price is $2.69.

Granite Point Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Tuesday, December 30th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date was Tuesday, December 30th. Granite Point Mortgage Trust’s payout ratio is presently -13.89%.

Insider Activity

In other news, Director Hope B. Woodhouse sold 14,674 shares of Granite Point Mortgage Trust stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $2.70, for a total value of $39,619.80. Following the transaction, the director owned 94,423 shares in the company, valued at approximately $254,942.10. The trade was a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Granite Point Mortgage Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Investment Research Partners LLC purchased a new position in Granite Point Mortgage Trust in the 3rd quarter worth about $137,000. Advisory Services Network LLC bought a new position in Granite Point Mortgage Trust in the third quarter valued at about $26,000. Susquehanna International Group LLP boosted its position in Granite Point Mortgage Trust by 15.4% in the third quarter. Susquehanna International Group LLP now owns 307,963 shares of the company’s stock worth $924,000 after purchasing an additional 41,016 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Granite Point Mortgage Trust by 32.1% during the 3rd quarter. Bank of America Corp DE now owns 66,148 shares of the company’s stock valued at $198,000 after purchasing an additional 16,089 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in shares of Granite Point Mortgage Trust during the 3rd quarter valued at about $560,000. Institutional investors own 51.63% of the company’s stock.

About Granite Point Mortgage Trust

Granite Point Mortgage Trust, Inc is a specialty finance company that invests directly in commercial real estate debt. The company focuses on originating, acquiring and managing senior preferred and mezzanine loans secured by income-producing real estate across diverse property types, including multifamily, office, industrial and retail assets. Granite Point Mortgage Trust operates as a real estate investment trust (REIT), providing investors with exposure to floating-rate commercial mortgage loan investments.

Granite Point’s investment strategy centers on structuring loans to deliver attractive risk-adjusted returns, with portfolio allocations spanning senior loans, B-notes and mezzanine financings.