Granite Point Mortgage Trust Inc. (NYSE:GPMT – Get Free Report) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 883,200 shares, a decline of 6.0% from the November 30th total of 939,700 shares. Based on an average daily volume of 389,600 shares, the short-interest ratio is presently 2.3 days. Currently, 1.8% of the company’s shares are short sold.
Analyst Upgrades and Downgrades
GPMT has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $3.00 to $3.25 in a research note on Tuesday, December 10th. UBS Group lifted their target price 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, November 15th.
Get Our Latest Analysis on Granite Point Mortgage Trust
Granite Point Mortgage Trust Stock Performance
Granite Point Mortgage Trust Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 7.17%. The ex-dividend date of this dividend is Tuesday, December 31st. Granite Point Mortgage Trust’s dividend payout ratio is currently -5.18%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in shares of Granite Point Mortgage Trust by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 184,943 shares of the company’s stock valued at $549,000 after buying an additional 21,810 shares during the period. Naviter Wealth LLC raised its holdings in shares of Granite Point Mortgage Trust by 53.6% during the second quarter. Naviter Wealth LLC now owns 21,500 shares of the company’s stock worth $64,000 after acquiring an additional 7,500 shares in the last quarter. Oak Thistle LLC acquired a new stake in Granite Point Mortgage Trust during the second quarter valued at $78,000. Hsbc Holdings PLC grew its stake in Granite Point Mortgage Trust by 8.7% in the second quarter. Hsbc Holdings PLC now owns 59,938 shares of the company’s stock valued at $170,000 after purchasing an additional 4,805 shares in the last quarter. Finally, Sei Investments Co. increased its position in Granite Point Mortgage Trust by 29.8% in the 2nd quarter. Sei Investments Co. now owns 52,725 shares of the company’s stock worth $157,000 after purchasing an additional 12,100 shares during the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.
About Granite Point Mortgage Trust
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.
Featured Stories
- Five stocks we like better than Granite Point Mortgage Trust
- How to buy stock: A step-by-step guide for beginners
- Work and Play: Investing in the Rise of Bleisure Travel
- Mastering Discipline: Overcoming Emotional Challenges In Trading
- Top Dividend Stocks to Buy Now as Bond Yields Could Lower
- Consumer Discretionary Stocks Explained
- SAP: AI Tailwinds Accelerating Enterprise Cloud Business
Receive News & Ratings for Granite Point Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Point Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.