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

Granite Point Mortgage Trust Inc. (NYSE:GPMT) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 59,579 shares, a growth of 19.0% from the January 29th total of 50,073 shares. Based on an average trading volume of 218,768 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are short sold. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 218,768 shares, the short-interest ratio is presently 0.3 days.

Granite Point Mortgage Trust Stock Performance

NYSE:GPMT opened at $1.75 on Friday. Granite Point Mortgage Trust has a 52 week low of $1.61 and a 52 week high of $3.12. The firm’s fifty day moving average is $2.13 and its 200-day moving average is $2.56. The firm has a market cap of $83.23 million, a P/E ratio of -1.51 and a beta of 1.71.

Granite Point Mortgage Trust (NYSE:GPMT) last released its earnings results on Wednesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.10. Granite Point Mortgage Trust had a negative net margin of 31.24% and a negative return on equity of 15.52%. The business had revenue of $10.55 million for the quarter, compared to analyst estimates of $10.22 million. As a group, sell-side analysts anticipate that Granite Point Mortgage Trust will post -2.75 earnings per share for the current year.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Tuesday, December 30th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $0.20 annualized dividend and a yield of 11.4%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is currently -17.24%.

Hedge Funds Weigh In On Granite Point Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of GPMT. Advisory Services Network LLC bought a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter valued at $26,000. LPL Financial LLC bought a new stake in Granite Point Mortgage Trust in the fourth quarter valued at $25,000. B. Riley Wealth Advisors Inc. bought a new stake in Granite Point Mortgage Trust in the second quarter valued at $28,000. Hudson Bay Capital Management LP acquired a new position in shares of Granite Point Mortgage Trust during the second quarter valued at about $31,000. Finally, Jump Financial LLC bought a new position in shares of Granite Point Mortgage Trust during the 2nd quarter worth about $31,000. 51.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wall Street Zen upgraded Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a report on Thursday, January 22nd. Compass Point set a $2.05 target price on shares of Granite Point Mortgage Trust in a research report on Friday, February 13th. Keefe, Bruyette & Woods reduced 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, Zacks Research raised shares of Granite Point Mortgage Trust to a “hold” rating in a research note on Friday, December 19th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.68.

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.