Granite Point Mortgage Trust Inc. (NYSE: GPMT) recorded a significant drop in short-term interest rates in November. As of November 30, there was short interest totaling 543,700 shares, a decrease of 21.9% from the total of 696,000 shares as of November 15. About 1.0% of the company’s shares are sold short. Based on an average trading volume of 288,800 shares, the short-term interest rate is currently 1.9 days.
Several institutional investors have recently bought and sold shares in the company. Balyasny Asset Management LLC purchased a new stake in shares of Granite Point Mortgage Trust during the third quarter for a value of approximately $ 2,145,000. BNP Paribas Arbitrage SA increased its stake in Granite Point Mortgage Trust by 147.6% during the third quarter. BNP Paribas Arbitrage SA now owns 82,296 shares of the company valued at $ 1,084,000 after acquiring 49,053 additional shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Granite Point Mortgage Trust during the third quarter valued at approximately $ 140,000. Metropolitan Life Insurance Co NY increased its stake in Granite Point Mortgage Trust shares by 6.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 13,779 shares of the company valued at $ 181,000 after acquiring 777 additional shares during the last quarter. Finally, Millennium Management LLC increased its stake in the shares of Granite Point Mortgage Trust by 269.7% during the third quarter. Millennium Management LLC now owns 95,729 shares of the company valued at $ 1,261,000 after acquiring an additional 69,833 shares in the last quarter. 62.19% of the shares are held by hedge funds and other institutional investors.
Separately, JMP Securities reiterated a “buy” note and issued a price target of $ 15.00 on Granite Point Mortgage Trust shares in a research report released on Tuesday, October 12. One investment analyst rated the stock with a sell rating, another assigned a conservation rating, and three assigned a buy rating to the company. According to MarketBeat.com, Granite Point Mortgage Trust currently has a consensus rating of “Hold” and an average target price of $ 14.80.
NYSE: GPMT shares traded up $ 0.21 during trading hours on Friday, reaching $ 11.65. 1,240,050 shares of the company were traded in the hands, compared to its average volume of 367,013. Granite Point Mortgage Trust has a one-year low of $ 9.03 and a one-year high of $ 15. $ 92. The company has a fifty-day moving average price of $ 12.89 and a 200-day moving average price of $ 13.68. The company has a market cap of $ 626.64 million, a P / E ratio of 8.26 and a beta of 1.47.
Granite Point Mortgage Trust (NYSE: GPMT) last reported its results on Monday, November 8. The company reported earnings per share (EPS) of $ 0.09 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.07 of $ 0.02. Granite Point Mortgage Trust recorded a return on equity of 5.73% and a net margin of 40.65%. In the same quarter of last year, the company made a profit of $ 0.25 per share. On average, analysts predict that Granite Point Mortgage Trust will post 0.88 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 18. Shareholders of record on Friday, December 31 will receive a dividend of $ 0.25 per share. The ex-dividend date is Thursday, December 30. This represents an annualized dividend of $ 1.00 and a dividend yield of 8.58%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is currently 70.92%.
About Granite Point Mortgage Trust
Granite Point Mortgage Trust, Inc operates as a real estate investment trust, which focuses on the creation, investment and management of adjustable rate first commercial mortgages, other debt and similar commercial real estate investments. debts. The company was founded on April 7, 2017 and is headquartered in New York, NY.
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