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Granite Point Mortgage Trust Inc. (NYSE:GPMT – Get Rating) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totalling 1,240,000 shares, an increase of 46.4% from the April 15th total of 847,000 shares. Based on an average trading volume of 354,300 shares, the short-interest ratio is currently 3.5 days. Currently, 2.3% of the company’s shares are sold short.
Large investors have recently modified their holdings of the business. Catalyst Capital Advisors LLC increased its position in shares of Granite Point Mortgage Trust by 26.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 5,580 shares of the company’s stock valued at $65,000 after acquiring an additional 1,170 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Granite Point Mortgage Trust during the 3rd quarter worth $84,000. Teacher Retirement System of Texas purchased a new position in shares of Granite Point Mortgage Trust in the 4th quarter worth about $124,000. Gyon Technologies Capital Management LP bought a new position in Granite Point Mortgage Trust during the first quarter valued at about $134,000. Finally, Squarepoint Ops LLC purchased a new stake in Granite Point Mortgage Trust during the third quarter worth about $140,000. Institutional investors and hedge funds own 61.63% of the company’s stock.
Shares of GPMT traded up $0.15 on Friday, reaching $10.06. The company’s stock had a trading volume of 263,305 shares, compared to its average volume of 374,422. Granite Point Mortgage Trust has a twelve month low of $9.52 and a twelve month high of $15.92. The stock has a market capitalization of $541.83 million, a PE ratio of 14.17 and a beta of 1.38. The firm has a fifty day moving average of $10.54 and a 200-day moving average of $11.52.
Granite Point Mortgage Trust (NYSE:GPMT – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Granite Point Mortgage Trust had a return on equity of 3.28% and a net margin of 23.50%. During the same quarter last year, the company posted $0.36 earnings per share. Equities research analysts forecast that Granite Point Mortgage Trust will post 0.57 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Friday, April 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $1.00 annualized dividend and a yield of 9.94%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is currently 140.85%.
Several equities analysts have issued reports on GPMT shares. Zacks Investment Research lowered Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Wednesday. Credit Suisse Group decreased their target price on Granite Point Mortgage Trust from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday, March 1st. Finally, JMP Securities reiterated a “buy” rating and issued a $15.00 price target on shares of Granite Point Mortgage Trust in a report on Monday, March 28th.
Granite Point Mortgage Trust Company Profile (Get Rating)
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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