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

Granite Point Mortgage Trust Inc. (NYSE:GPMT) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,030,000 shares, an increase of 13.1% from the August 31st total of 910,900 shares. Based on an average daily volume of 425,900 shares, the short-interest ratio is presently 2.4 days. Currently, 2.1% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reduced their price target on shares of Granite Point Mortgage Trust from $3.25 to $2.75 and set an “underperform” rating on the stock in a research report on Monday, August 12th.

Granite Point Mortgage Trust Stock Down 0.9 %

NYSE GPMT traded down $0.03 during trading on Friday, hitting $3.19. The stock had a trading volume of 385,711 shares, compared to its average volume of 440,997. The company has a market capitalization of $162.80 million, a PE ratio of -1.38 and a beta of 1.78. The firm has a 50 day moving average price of $2.78 and a 200 day moving average price of $3.39. Granite Point Mortgage Trust has a twelve month low of $2.46 and a twelve month high of $6.41.

Granite Point Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.27%. Granite Point Mortgage Trust’s payout ratio is -8.66%.

Institutional Investors Weigh In On Granite Point Mortgage Trust

Several institutional investors have recently added to or reduced their stakes in the business. Westend Capital Management LLC acquired a new position in Granite Point Mortgage Trust during the first quarter worth approximately $43,000. B. Riley Wealth Advisors Inc. purchased a new stake in Granite Point Mortgage Trust in the 1st quarter valued at $55,000. Naviter Wealth LLC acquired a new stake in Granite Point Mortgage Trust during the 1st quarter worth $69,000. Dorsey & Whitney Trust CO LLC grew its position in Granite Point Mortgage Trust by 33.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 20,000 shares of the company’s stock worth $119,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Sierra Summit Advisors LLC acquired a new position in Granite Point Mortgage Trust in the fourth quarter valued at $126,000. Hedge funds and other institutional investors own 51.63% of the company’s stock.

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.