Short Interest in Granite Point Mortgage Trust Inc. (NYSE:GPMT) Rises By 19.0%

Granite Point Mortgage Trust Inc. (NYSE:GPMT) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 59,579 shares, a growth of 19.0% from the January 29th total of 50,073 shares. Based on an average daily trading volume, of 218,768 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are sold short. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 218,768 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GPMT shares. Wall Street Zen raised shares of Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Keefe, Bruyette & Woods lowered their price objective on Granite Point Mortgage Trust from $2.75 to $2.50 and set a “market perform” rating for the company in a research report on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a research note on Thursday, January 22nd. Zacks Research upgraded Granite Point Mortgage Trust to a “hold” rating in a research note on Friday, December 19th. Finally, Compass Point set a $2.05 price target on Granite Point Mortgage Trust in a report on Friday, February 13th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.68.

Institutional Investors Weigh In On Granite Point Mortgage Trust

Several hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC acquired a new stake in Granite Point Mortgage Trust during the 4th quarter worth about $25,000. Advisory Services Network LLC purchased a new stake in shares of Granite Point Mortgage Trust in the third quarter worth about $26,000. B. Riley Wealth Advisors Inc. acquired a new stake in Granite Point Mortgage Trust during the second quarter worth about $28,000. Hudson Bay Capital Management LP purchased a new position in Granite Point Mortgage Trust during the second quarter valued at approximately $31,000. Finally, Jump Financial LLC acquired a new position in Granite Point Mortgage Trust in the second quarter valued at approximately $31,000. 51.63% of the stock is owned by hedge funds and other institutional investors.

Granite Point Mortgage Trust Trading Down 1.9%

Shares of GPMT stock traded down $0.04 during mid-day trading on Thursday, reaching $1.77. The stock had a trading volume of 65,646 shares, compared to its average volume of 210,315. Granite Point Mortgage Trust has a 1-year low of $1.61 and a 1-year high of $3.12. The firm has a market cap of $83.95 million, a price-to-earnings ratio of -1.52 and a beta of 1.71. The business’s fifty day moving average is $2.15 and its 200-day moving average is $2.56.

Granite Point Mortgage Trust (NYSE:GPMT) last issued its earnings results on Wednesday, February 11th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.10. Granite Point Mortgage Trust had a negative return on equity of 15.52% and a negative net margin of 31.24%.The firm had revenue of $10.55 million for the quarter, compared to analyst estimates of $10.22 million. On average, analysts forecast that Granite Point Mortgage Trust will post -2.75 earnings per share for the current year.

Granite Point Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Tuesday, December 30th were paid a $0.05 dividend. The ex-dividend date was Tuesday, December 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 11.3%. Granite Point Mortgage Trust’s dividend payout ratio is presently -17.24%.

About Granite Point Mortgage Trust

Granite Point Mortgage Trust, Inc is a specialty finance company that invests directly in commercial real estate debt. The company focuses on originating, acquiring and managing senior preferred and mezzanine loans secured by income-producing real estate across diverse property types, including multifamily, office, industrial and retail assets. Granite Point Mortgage Trust operates as a real estate investment trust (REIT), providing investors with exposure to floating-rate commercial mortgage loan investments.

Granite Point’s investment strategy centers on structuring loans to deliver attractive risk-adjusted returns, with portfolio allocations spanning senior loans, B-notes and mezzanine financings.