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

Granite Point Mortgage Trust Inc. (NYSE:GPMT) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 510,300 shares, a growth of 7.5% from the March 31st total of 474,500 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily volume of 420,700 shares, the short-interest ratio is currently 1.2 days.

Institutional Trading of Granite Point Mortgage Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in Granite Point Mortgage Trust in the third quarter worth approximately $32,000. Gladius Capital Management LP acquired a new position in shares of Granite Point Mortgage Trust in the 4th quarter valued at $44,000. Westend Capital Management LLC purchased a new position in shares of Granite Point Mortgage Trust during the 1st quarter worth $43,000. Tower Research Capital LLC TRC increased its position in shares of Granite Point Mortgage Trust by 676.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,758 shares of the company’s stock worth $64,000 after purchasing an additional 9,372 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Granite Point Mortgage Trust during the 3rd quarter worth about $55,000. Institutional investors and hedge funds own 51.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group dropped their target price on shares of Granite Point Mortgage Trust from $6.50 to $6.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. Raymond James dropped their price objective on shares of Granite Point Mortgage Trust from $7.00 to $6.50 and set an “outperform” rating for the company in a research note on Friday, February 16th. JMP Securities downgraded shares of Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 20th. Finally, Keefe, Bruyette & Woods lowered their target price on Granite Point Mortgage Trust from $5.00 to $4.75 and set an “underperform” rating on the stock in a report on Wednesday, April 10th.

Granite Point Mortgage Trust Trading Up 0.6 %

Shares of GPMT opened at $4.32 on Thursday. Granite Point Mortgage Trust has a 12-month low of $3.97 and a 12-month high of $6.41. The firm has a market capitalization of $219.16 million, a P/E ratio of -2.88 and a beta of 1.80. The firm has a 50-day moving average price of $4.59 and a 200 day moving average price of $5.05.

Granite Point Mortgage Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.60 annualized dividend and a dividend yield of 13.90%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is -40.00%.

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.