Granite Point Mortgage Trust Inc. (NYSE:GPMT) Sees Large Increase in Short Interest

Granite Point Mortgage Trust Inc. (NYSE:GPMT) was the recipient of a significant growth in short interest in 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. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 406,900 shares, the short-interest ratio is presently 2.1 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GPMT. Geode Capital Management LLC lifted its position in shares of Granite Point Mortgage Trust by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,200,175 shares of the company’s stock valued at $3,349,000 after acquiring an additional 22,335 shares during the period. Gratia Capital LLC acquired a new position in Granite Point Mortgage Trust during the fourth quarter worth $1,953,000. Northern Trust Corp boosted its position in Granite Point Mortgage Trust by 13.8% during the fourth quarter. Northern Trust Corp now owns 526,465 shares of the company’s stock worth $1,469,000 after purchasing an additional 63,970 shares in the last quarter. Wolverine Asset Management LLC grew its holdings in Granite Point Mortgage Trust by 209.2% in the fourth quarter. Wolverine Asset Management LLC now owns 493,848 shares of the company’s stock valued at $1,378,000 after purchasing an additional 334,109 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Granite Point Mortgage Trust by 39.2% in the fourth quarter. JPMorgan Chase & Co. now owns 391,394 shares of the company’s stock valued at $1,092,000 after buying an additional 110,143 shares in the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

Granite Point Mortgage Trust Trading Down 9.2 %

GPMT stock opened at $2.90 on Tuesday. The company has a market capitalization of $144.63 million, a P/E ratio of -0.75 and a beta of 1.86. The business has a 50 day simple moving average of $2.95 and a 200-day simple moving average of $2.96. 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 announced its earnings results on Thursday, February 13th. The company reported ($1.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($1.26). Granite Point Mortgage Trust had a negative net margin of 87.21% and a positive return on equity of 0.95%. The business had revenue of $7.57 million during the quarter, compared to analysts’ expectations of $7.90 million. Research analysts predict that Granite Point Mortgage Trust will post -2.61 EPS for the current fiscal year.

Granite Point Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 6.91%. The ex-dividend date was Tuesday, December 31st. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -5.18%.

Wall Street Analyst Weigh In

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

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.