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

Granite Point Mortgage Trust Inc. (NYSE:GPMT) was the recipient of a significant decline in short interest in January. As of January 15th, there was short interest totaling 37,968 shares, a decline of 52.3% from the December 31st total of 79,522 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 225,104 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 225,104 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

Granite Point Mortgage Trust Price Performance

Shares of GPMT stock traded down $0.12 during trading hours on Friday, hitting $2.14. The stock had a trading volume of 242,534 shares, compared to its average volume of 190,120. The firm has a market capitalization of $101.22 million, a PE ratio of -1.48 and a beta of 1.72. The stock’s 50 day moving average is $2.49 and its 200 day moving average is $2.68. Granite Point Mortgage Trust has a twelve month low of $1.61 and a twelve month high of $3.19.

Granite Point Mortgage Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Tuesday, December 30th were given a $0.05 dividend. The ex-dividend date was Tuesday, December 30th. This represents a $0.20 annualized dividend and a dividend yield of 9.4%. Granite Point Mortgage Trust’s dividend payout ratio is currently -13.89%.

Insider Activity

In related news, Director Hope B. Woodhouse sold 14,674 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $2.70, for a total transaction of $39,619.80. Following the completion of the sale, the director directly owned 94,423 shares in the company, valued at $254,942.10. This represents a 13.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Granite Point Mortgage Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP raised its stake in shares of Granite Point Mortgage Trust by 9,425.4% during the second quarter. Marshall Wace LLP now owns 1,007,221 shares of the company’s stock valued at $2,488,000 after purchasing an additional 996,647 shares in the last quarter. Jane Street Group LLC increased its stake in Granite Point Mortgage Trust by 1,020.8% during the 2nd quarter. Jane Street Group LLC now owns 720,441 shares of the company’s stock valued at $1,779,000 after buying an additional 656,164 shares during the period. Truffle Hound Capital LLC acquired a new position in Granite Point Mortgage Trust during the 2nd quarter valued at about $988,000. Two Sigma Investments LP bought a new stake in shares of Granite Point Mortgage Trust during the 3rd quarter worth about $560,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter worth approximately $528,000. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a report on Thursday, January 22nd. Zacks Research raised shares of Granite Point Mortgage Trust to a “hold” rating in a report on Friday, December 19th. Keefe, Bruyette & Woods cut their price objective on shares of Granite Point Mortgage Trust from $2.75 to $2.50 and set a “market perform” rating for the company in a research report on Thursday, January 8th. Compass Point set a $2.50 target price on shares of Granite Point Mortgage Trust in a report on Thursday, January 8th. Finally, Wall Street Zen raised shares of Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.83.

Granite Point Mortgage Trust Company Profile

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.