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

Granite Point Mortgage Trust Inc. (NYSE:GPMT - Get Free Report) was the target of a significant growth in short interest in 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. Approximately 1.8% of the company's shares are sold short. Based on an average trading volume of 406,900 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of 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 buying an additional 154,202 shares during the last quarter. Barclays PLC increased its stake in shares of Granite Point Mortgage Trust by 64.4% in the third 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 period. Wolverine Asset Management LLC acquired a new position in shares of Granite Point Mortgage Trust during the 3rd quarter worth about $506,000. GSA Capital Partners LLP increased its position in Granite Point Mortgage Trust by 25.7% in the 3rd quarter. GSA Capital Partners LLP now owns 54,223 shares of the company's stock worth $172,000 after buying an additional 11,101 shares during the period. Finally, FMR LLC lifted its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 51.63% of the company's stock.

Granite Point Mortgage Trust Stock Performance

Shares of NYSE GPMT traded up $0.05 during trading hours on Wednesday, hitting $2.85. The stock had a trading volume of 659,621 shares, compared to its average volume of 379,935. The firm's 50-day moving average price is $2.93 and its two-hundred day moving average price is $2.96. Granite Point Mortgage Trust has a 52 week low of $2.46 and a 52 week high of $5.01. The company has a market capitalization of $142.14 million, a P/E ratio of -0.65 and a beta of 1.86.

Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($1.99) EPS for the quarter, missing the consensus estimate of ($0.73) by ($1.26). Granite Point Mortgage Trust had a negative return on equity of 14.08% and a negative net margin of 111.59%. The business had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.90 million. As a group, analysts expect that Granite Point Mortgage Trust will post -2.75 EPS for the current fiscal year.

Granite Point Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.03%. Granite Point Mortgage Trust's dividend payout ratio is currently -4.56%.

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.