Short Interest in Granite Point Mortgage Trust Inc. (NYSE:GPMT) Expands By 13.1%

Granite Point Mortgage Trust Inc. (NYSE:GPMT) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 1,030,000 shares, a growth of 13.1% from the August 31st total of 910,900 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 425,900 shares, the short-interest ratio is currently 2.4 days.

Institutional Investors Weigh In On Granite Point Mortgage Trust

A number of institutional investors have recently added to or reduced their stakes in GPMT. Price T Rowe Associates Inc. MD lifted its holdings 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 worth $567,000 after purchasing an additional 3,336 shares during the period. Hsbc Holdings PLC lifted its holdings in 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 buying an additional 4,805 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Granite Point Mortgage Trust by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 23,684 shares of the company’s stock valued at $70,000 after acquiring an additional 4,807 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased 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 valued at $119,000 after purchasing an additional 5,000 shares during the period. Finally, Naviter Wealth LLC raised its holdings in Granite Point Mortgage Trust by 53.6% during the 2nd quarter. Naviter Wealth LLC now owns 21,500 shares of the company’s stock worth $64,000 after purchasing an additional 7,500 shares during the last quarter. 51.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Granite Point Mortgage Trust Stock Down 0.6 %

Shares of GPMT stock opened at $3.17 on Tuesday. Granite Point Mortgage Trust has a twelve month low of $2.46 and a twelve month high of $6.41. The stock’s fifty day simple moving average is $2.78 and its 200 day simple moving average is $3.37. The firm has a market capitalization of $161.78 million, a P/E ratio of -1.37 and a beta of 1.78.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 yield of 6.31%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -8.66%.

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.