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

Granite Point Mortgage Trust Inc. (NYSE:GPMT) was the recipient 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. Currently, 2.6% of the shares of the company are sold short. Based on an average trading volume of 365,500 shares, the short-interest ratio is presently 3.4 days.

Granite Point Mortgage Trust Trading Down 2.7 %

Shares of GPMT stock traded down $0.09 during trading hours on Friday, hitting $3.26. 471,325 shares of the company’s stock were exchanged, compared to its average volume of 412,203. Granite Point Mortgage Trust has a fifty-two week low of $2.46 and a fifty-two week high of $6.41. The firm has a 50 day moving average of $3.01 and a two-hundred day moving average of $3.03.

Granite Point Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 6.13%. The ex-dividend date was Tuesday, October 1st. Granite Point Mortgage Trust’s payout ratio is -5.18%.

Institutional Trading of Granite Point Mortgage Trust

Several institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its stake in Granite Point Mortgage Trust by 2.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,323,871 shares of the company’s stock valued at $6,314,000 after buying an additional 33,474 shares in the last quarter. Epiq Partners LLC lifted its position in shares of Granite Point Mortgage Trust by 2.3% in the second quarter. Epiq Partners LLC now owns 591,825 shares of the company’s stock valued at $1,758,000 after acquiring an additional 13,400 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of Granite Point Mortgage Trust by 23.0% in the third quarter. Penserra Capital Management LLC now owns 318,670 shares of the company’s stock worth $1,010,000 after acquiring an additional 59,520 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Granite Point Mortgage Trust by 115.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 209,802 shares of the company’s stock worth $1,001,000 after purchasing an additional 112,523 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Granite Point Mortgage Trust by 13.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,943 shares of the company’s stock valued at $549,000 after purchasing an additional 21,810 shares during the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.