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

Granite Point Mortgage Trust Inc. (NYSE:GPMT - Get Free Report) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 547,400 shares, a decline of 8.0% from the February 29th total of 595,300 shares. Based on an average daily trading volume, of 409,100 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.1% of the company's shares are sold short.

Institutional Trading of Granite Point Mortgage Trust

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Granite Point Mortgage Trust by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,703,298 shares of the company's stock worth $52,301,000 after acquiring an additional 64,535 shares in the last quarter. BlackRock Inc. increased its holdings in Granite Point Mortgage Trust by 0.9% in the second quarter. BlackRock Inc. now owns 4,238,440 shares of the company's stock valued at $22,464,000 after buying an additional 38,963 shares during the last quarter. State Street Corp raised its stake in Granite Point Mortgage Trust by 1.3% in the second quarter. State Street Corp now owns 2,411,283 shares of the company's stock valued at $23,671,000 after buying an additional 31,891 shares in the last quarter. Invesco Ltd. lifted its holdings in Granite Point Mortgage Trust by 108.4% during the 1st quarter. Invesco Ltd. now owns 1,583,194 shares of the company's stock worth $17,605,000 after buying an additional 823,363 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in Granite Point Mortgage Trust by 5.0% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,084,032 shares of the company's stock valued at $6,439,000 after purchasing an additional 52,000 shares in the last quarter. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group cut their price objective on Granite Point Mortgage Trust from $6.50 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, March 20th. JMP Securities lowered shares of Granite Point Mortgage Trust from an "outperform" rating to a "market perform" rating in a research note on Tuesday, February 20th. Finally, Raymond James lowered their price objective on shares of Granite Point Mortgage Trust from $7.00 to $6.50 and set an "outperform" rating for the company in a research note on Friday, February 16th.

Granite Point Mortgage Trust Trading Down 2.3 %

NYSE:GPMT traded down $0.11 during midday trading on Tuesday, reaching $4.51. The company had a trading volume of 614,979 shares, compared to its average volume of 427,519. Granite Point Mortgage Trust has a 12-month low of $3.97 and a 12-month high of $6.41. The stock's fifty day simple moving average is $5.01 and its 200-day simple moving average is $5.13.

Granite Point Mortgage Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 13.32%. The ex-dividend date is Thursday, March 28th. Granite Point Mortgage Trust's payout ratio is presently -40.00%.

About Granite Point Mortgage Trust

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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