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

Granite Point Mortgage Trust Inc. (NYSE:GPMT) was the recipient of a large increase in short interest in January. As of January 30th, there was short interest totaling 50,073 shares, an increase of 31.9% from the January 15th total of 37,968 shares. Based on an average daily trading volume, of 179,389 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are short sold. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 179,389 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Granite Point Mortgage Trust by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,442,107 shares of the company’s stock worth $7,326,000 after purchasing an additional 134,451 shares during the period. Cura Wealth Advisors LLC grew its holdings in shares of Granite Point Mortgage Trust by 5.4% in the fourth quarter. Cura Wealth Advisors LLC now owns 1,894,666 shares of the company’s stock worth $4,547,000 after acquiring an additional 97,665 shares during the period. Epiq Partners LLC increased its position in Granite Point Mortgage Trust by 2.4% during the third quarter. Epiq Partners LLC now owns 1,194,905 shares of the company’s stock valued at $3,585,000 after acquiring an additional 28,405 shares during the last quarter. Marshall Wace LLP lifted its holdings in Granite Point Mortgage Trust by 9,425.4% in the second quarter. Marshall Wace LLP now owns 1,007,221 shares of the company’s stock valued at $2,488,000 after acquiring an additional 996,647 shares during the period. Finally, Jane Street Group LLC boosted its position in Granite Point Mortgage Trust by 1,020.8% in the second quarter. Jane Street Group LLC now owns 720,441 shares of the company’s stock worth $1,779,000 after purchasing an additional 656,164 shares during the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Granite Point Mortgage Trust Trading Down 1.7%

Shares of NYSE:GPMT opened at $1.98 on Monday. The stock has a fifty day simple moving average of $2.36 and a two-hundred day simple moving average of $2.65. Granite Point Mortgage Trust has a 12-month low of $1.61 and a 12-month high of $3.16. The stock has a market capitalization of $93.63 million, a price-to-earnings ratio of -1.70 and a beta of 1.72.

Granite Point Mortgage Trust (NYSE:GPMT) last announced its quarterly earnings results on Wednesday, February 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.10. The company had revenue of $10.55 million for the quarter, compared to analysts’ expectations of $10.22 million. Granite Point Mortgage Trust had a negative net margin of 31.24% and a negative return on equity of 15.52%. As a group, equities research analysts predict that Granite Point Mortgage Trust will post -2.75 EPS for the current year.

Granite Point Mortgage Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Tuesday, December 30th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $0.20 dividend on an annualized basis and a yield of 10.1%. Granite Point Mortgage Trust’s payout ratio is -17.24%.

Granite Point Mortgage Trust Company Profile

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.