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 during 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 volume of 257,174 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the company’s shares are sold short. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 257,174 shares, the short-interest ratio is presently 0.3 days.

Analysts Set New Price Targets

Several brokerages recently issued reports on GPMT. Compass Point set a $2.50 price objective on Granite Point Mortgage Trust in a report on Thursday, January 8th. Zacks Research raised Granite Point Mortgage Trust to a “hold” rating in a research note on Friday, December 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a research note on Wednesday, October 8th. Wall Street Zen upgraded Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, 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 on the stock in a research report on Thursday, January 8th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Granite Point Mortgage Trust currently has a consensus rating of “Hold” and a consensus price target of $2.83.

Granite Point Mortgage Trust Stock Performance

Shares of NYSE GPMT traded up $0.07 during mid-day trading on Wednesday, reaching $2.27. 238,498 shares of the company traded hands, compared to its average volume of 212,483. The company’s fifty day moving average is $2.58 and its two-hundred day moving average is $2.70. Granite Point Mortgage Trust has a fifty-two week low of $1.61 and a fifty-two week high of $3.19. The stock has a market cap of $107.37 million, a PE ratio of -1.57 and a beta of 1.72.

Granite Point Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Tuesday, December 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 8.8%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is currently -13.89%.

Insider Activity at Granite Point Mortgage Trust

In related news, Director Hope B. Woodhouse sold 14,674 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $2.70, for a total value of $39,619.80. Following the completion of the transaction, the director owned 94,423 shares of the company’s stock, valued at approximately $254,942.10. This trade represents a 13.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Granite Point Mortgage Trust

Large investors have recently modified their holdings of the company. MetLife Investment Management LLC grew its stake in Granite Point Mortgage Trust by 68.3% in the 1st quarter. MetLife Investment Management LLC now owns 21,334 shares of the company’s stock valued at $55,000 after buying an additional 8,658 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Granite Point Mortgage Trust by 473.4% during the first quarter. AQR Capital Management LLC now owns 156,518 shares of the company’s stock valued at $407,000 after acquiring an additional 129,222 shares during the period. Acadian Asset Management LLC grew its position in shares of Granite Point Mortgage Trust by 9.4% in the first quarter. Acadian Asset Management LLC now owns 602,372 shares of the company’s stock valued at $1,565,000 after purchasing an additional 51,780 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Granite Point Mortgage Trust by 1,460.6% in the second quarter. Farther Finance Advisors LLC now owns 13,062 shares of the company’s stock valued at $32,000 after purchasing an additional 12,225 shares during the last quarter. Finally, Confluence Wealth Services Inc. bought a new position in shares of Granite Point Mortgage Trust in the second quarter worth about $29,000. 51.63% of the stock is owned by institutional investors.

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.