( ) was the subject of a significant decline in short interest during June. On June 30, there were 508,800 shorted shares. This is a 12.0% decrease from the total of 578.500 shares on June 15. At the moment, 1,0% of shares are being shorted. The days-tocover ratio currently stands at 0.8 days based on an average trading volume 652,000 shares.
Analyst Upgrades and downgrades
Hedge funds and institutional investors have recently increased or decreased their stakes. Captrust Financial Advisors bought a new Granite Point Mortgage Trust position valued at approximately $29,000 in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings of Granite Point Mortgage Trust in the fourth quarter by 43.1%. Zurcher Kantonalbank Zurich Cantonalbank owns 7,529 of the company’s stock worth $40,000, after buying an additional 2,267 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings of Granite Point Mortgage Trust in the second quarter by 197.0%. Allspring Global Investments Holdings LLC owns 7,649 of the company’s stock, valued at $41,000. This is after buying an additional 5,074 in the last quarter. Moloney Securities Asset Management LLC acquired a new stake in Granite Point Mortgage Trust shares during the first quarter valued at $50,000. Cetera Investment Advisers also purchased shares of Granite Point Mortgage Trust in the first quarter for $50,000. Hedge funds and institutional investors own 51.98%.
Granite Point Mortgage Trust Stock Price
On Friday, the price of the stock fell by $0.08 to $5.58. The trading volume was 385,429 versus the average of 795.626. Granite Point Mortgage Trust's 1 year low is $3.97, and its 1 year high is $10.82. The fifty-day moving average of the company is $5.12, and its 200-day moving average is also $5.31. The company's market cap is $287.28 millions, with a P/E of -3.12 a beta of 1.58, and a market capitalization of 287.28.
Granite Point Mortgage Trust Dividend announcement
A quarterly dividend was also announced by the company and paid out on Monday, 17th July. Investors who had their records on the Monday, July 3, received a dividend of $0.20. On an annualized basis, this represents a dividend of $0.80 and a yield 14.35%. The date of the ex-dividend was Friday, 30th June. Granite Point Mortgage Trust has a payout ratio of -44.69%.
Granite Point Mortgage Trust Company profile
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Granite Point Mortgage Trust Inc., a real-estate investment trust, originates and invests in senior floating-rate mortgage loans and other debt or debt-like commercial property investments in the United States. The company offers intermediate-term transitional or bridge financing for a variety of purposes, such as acquisitions, refinancing and recapitalizations. It also provides financing to support a number of business plans including lease-ups, renovations, repositioning and repurposing commercial properties.
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