Short Interest in Granite Point Mortgage Trust Inc. (NYSE:GPMT) Decreases By 6.0%

Granite Point Mortgage Trust Inc. (NYSE:GPMT) 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 trading volume of 389,600 shares, the short-interest ratio is presently 2.3 days. Approximately 1.8% of the shares of the company are short sold.

Analysts Set New Price Targets

GPMT has been the subject of a number of recent research reports. UBS Group upped their price objective on Granite Point Mortgage Trust from $3.50 to $4.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods upgraded shares of Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $3.00 to $3.25 in a research report on Tuesday, December 10th.

Institutional Investors Weigh In On Granite Point Mortgage Trust

Several institutional investors have recently bought and sold shares of GPMT. Bank of New York Mellon Corp raised its position 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 worth $549,000 after buying an additional 21,810 shares in the last quarter. Naviter Wealth LLC raised its holdings in 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 purchasing an additional 7,500 shares in the last quarter. Oak Thistle LLC acquired a new stake in Granite Point Mortgage Trust in the second quarter worth approximately $78,000. Hsbc Holdings PLC lifted its position 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 worth $170,000 after purchasing an additional 4,805 shares during the period. Finally, Sei Investments Co. boosted its stake in Granite Point Mortgage Trust by 29.8% during the 2nd quarter. Sei Investments Co. now owns 52,725 shares of the company’s stock valued at $157,000 after purchasing an additional 12,100 shares in the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

Granite Point Mortgage Trust Price Performance

GPMT stock traded up $0.01 on Wednesday, reaching $2.79. The company’s stock had a trading volume of 1,003,564 shares, compared to its average volume of 430,216. Granite Point Mortgage Trust has a 52 week low of $2.46 and a 52 week high of $6.13. The company has a market capitalization of $139.38 million, a P/E ratio of -0.72 and a beta of 1.83. The firm has a fifty day moving average of $3.20 and a two-hundred day moving average of $2.99.

Granite Point Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis 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%.

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.