Granite Point Mortgage Trust Inc. (NYSE:GPMT – Get Free Report) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,130,000 shares, a growth of 9.7% from the September 15th total of 1,030,000 shares. Based on an average daily trading volume, of 392,600 shares, the days-to-cover ratio is presently 2.9 days. Currently, 2.3% of the shares of the company are short sold.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods reduced their price objective on Granite Point Mortgage Trust from $3.25 to $2.75 and set an “underperform” rating for the company in a research note on Monday, August 12th.
View Our Latest Research Report on Granite Point Mortgage Trust
Institutional Inflows and Outflows
Granite Point Mortgage Trust Trading Down 0.3 %
Granite Point Mortgage Trust stock traded down $0.01 during midday trading on Thursday, hitting $3.12. The stock had a trading volume of 175,968 shares, compared to its average volume of 433,296. Granite Point Mortgage Trust has a 52-week low of $2.46 and a 52-week high of $6.41. The company has a market capitalization of $159.23 million, a PE ratio of -1.35 and a beta of 1.79. The firm’s fifty day moving average is $2.79 and its two-hundred day moving average is $3.23.
Granite Point Mortgage Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.41%. 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.
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