Short Interest in Granite Point Mortgage Trust Inc. (NYSE:GPMT) Decreases By 11.3%

Granite Point Mortgage Trust Inc. (NYSE:GPMT) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,250,000 shares, a drop of 11.3% from the October 15th total of 1,410,000 shares. Based on an average daily volume of 365,500 shares, the short-interest ratio is currently 3.4 days. Currently, 2.6% of the shares of the company are sold short.

Hedge Funds Weigh In On Granite Point Mortgage Trust

Several hedge funds have recently modified their holdings of GPMT. Price T Rowe Associates Inc. MD increased its position in shares of Granite Point Mortgage Trust by 2.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 118,793 shares of the company’s stock valued at $567,000 after acquiring an additional 3,336 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Granite Point Mortgage Trust by 8.7% during the 2nd quarter. Hsbc Holdings PLC now owns 59,938 shares of the company’s stock worth $170,000 after purchasing an additional 4,805 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Granite Point Mortgage Trust by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,684 shares of the company’s stock valued at $70,000 after buying an additional 4,807 shares in the last quarter. FMR LLC increased its holdings in Granite Point Mortgage Trust by 237.2% during the 3rd quarter. FMR LLC now owns 8,296 shares of the company’s stock worth $26,000 after acquiring an additional 5,836 shares during the period. Finally, Naviter Wealth LLC grew its position in shares of Granite Point Mortgage Trust by 53.6% during the 2nd quarter. Naviter Wealth LLC now owns 21,500 shares of the company’s stock valued at $64,000 after purchasing an additional 7,500 shares in the last quarter. Institutional investors own 51.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GPMT. UBS Group raised their price target on Granite Point Mortgage Trust from $3.50 to $4.00 and gave the company a “buy” rating in a report on Friday. Keefe, Bruyette & Woods raised their price objective on shares of Granite Point Mortgage Trust from $2.75 to $3.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 12th.

Granite Point Mortgage Trust Price Performance

Shares of GPMT traded up $0.03 during mid-day trading on Tuesday, reaching $3.35. 14,955 shares of the company were exchanged, compared to its average volume of 429,327. Granite Point Mortgage Trust has a 52 week low of $2.46 and a 52 week high of $6.41. The business has a 50 day simple moving average of $3.03 and a two-hundred day simple moving average of $3.01.

Granite Point Mortgage Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.20 annualized dividend and a yield of 5.97%. Granite Point Mortgage Trust’s payout ratio is -5.18%.

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.