Granite Point Mortgage Trust Inc. (NYSE:GPMT) Short Interest Update

Granite Point Mortgage Trust Inc. (NYSE:GPMT) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 854,300 shares, a growth of 10.4% from the January 15th total of 773,900 shares. Based on an average trading volume of 406,900 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.8% of the shares of the company are sold short.

Granite Point Mortgage Trust Trading Down 9.2 %

GPMT opened at $2.90 on Tuesday. The business’s 50 day moving average is $2.95 and its 200-day moving average is $2.96. The stock has a market cap of $144.63 million, a PE ratio of -0.75 and a beta of 1.86. Granite Point Mortgage Trust has a twelve month low of $2.46 and a twelve month high of $5.01.

Granite Point Mortgage Trust (NYSE:GPMT) last released its quarterly earnings results on Thursday, February 13th. The company reported ($1.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($1.26). The business had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.90 million. Granite Point Mortgage Trust had a negative net margin of 87.21% and a positive return on equity of 0.95%. As a group, analysts forecast that Granite Point Mortgage Trust will post -2.61 EPS for the current year.

Granite Point Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 6.91%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Point Mortgage Trust’s payout ratio is currently -5.18%.

Hedge Funds Weigh In On Granite Point Mortgage Trust

A number of institutional investors and hedge funds have recently bought and sold shares of GPMT. JPMorgan Chase & Co. raised its position in Granite Point Mortgage Trust by 121.4% in the third quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company’s stock worth $892,000 after acquiring an additional 154,202 shares in the last quarter. Barclays PLC grew its stake in shares of Granite Point Mortgage Trust by 64.4% in the 3rd quarter. Barclays PLC now owns 115,750 shares of the company’s stock worth $367,000 after purchasing an additional 45,323 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter worth approximately $506,000. GSA Capital Partners LLP lifted its stake in Granite Point Mortgage Trust by 25.7% during the third quarter. GSA Capital Partners LLP now owns 54,223 shares of the company’s stock valued at $172,000 after purchasing an additional 11,101 shares during the last quarter. Finally, FMR LLC boosted its holdings in Granite Point Mortgage Trust by 237.2% during the third quarter. FMR LLC now owns 8,296 shares of the company’s stock worth $26,000 after buying an additional 5,836 shares in the last quarter. Institutional investors own 51.63% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GPMT. Keefe, Bruyette & Woods raised Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $3.00 to $3.25 in a report on Tuesday, December 10th. UBS Group raised their target price on Granite Point Mortgage Trust from $3.50 to $4.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, JMP Securities restated a “market perform” rating on shares of Granite Point Mortgage Trust in a research report on Friday, January 10th.

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.