Granite Point Mortgage Trust Inc. (NYSE:GPMT)

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  • Bridget: $GPMT #ipo Starting to break out of this cup and handle.
  • Bridget: I have an alert set at $19.30 on $GPMT. Big cup and handle pattern on the weekly. #ipo
  • grcjr: $TWO $GPMT #yieldhogs @jan2138 - the 1 for 2 reverse split occurred overnight. I also received the $GPMT distribution resulting is a doubling of the share price. Will be looking to see whether I will keep or sell the shares of $GPMT
  • jan2138: @grcjr $TWO $GPMT #yieldhogs Long-short, was it a good deal for you?
  • grcjr: @jan2138 $TWO $GPMT #yieldhogs - getting the stock I believe was a good thing. Keeping the stock? Need to look more closely. Keeping for now. You?
  • jan2138: @grcjr $TWO $GPMT #yieldhogs I am not long $TWO so, I did not participate in the deal.
  • grcjr: @jan2138 $TWO $GPMT #yieldhogs Current yield on $GPMT is listed as 6.82% by Fidelity. Next xdiv should be the end of December. As for $TWO, it is back near the 200dma, just below, a bit more than I'd like. Shot across the bow? I'm giving them a pass for now. I suspect that getting the share price above $10 could help to get some funds to consider buying. I recall being told that many funds just don't hold anything under $10. Div payout this past year started at $0.24, then $0.25, now $0.26. If I'm doing it correctly, thats a 6.56% yield, placing it down the list a bit. I've got one #fedtaxfree in my taxable account that gives me over 6%. Both $TWO and $GPMT are in a rollover account. As I write this, I'm thinking I should look to exit. Take the $ and run.
  • grcjr: $GPMT $TWO @jan2138 - I did dump my $GPMT stock this morning. Reasonable price. Looking to sell $TWO.
  • grcjr: @jan2138 $TWO $GPMT not yet seeing the change in my account. Maybe today.
  • jan2138: $TWO: Tomorrow, they distribute the $GPMT shares and there will be a reverse split, 1 for 2, of $TWO shares.
  • grcjr: @jan2138 $TWO $GPMT - woo hoo. If you were closer I'd buy the first couple rounds and/or dinner.
  • grcjr: @grcjr $TWO [assuming I'm reading the posts correctly] ... Suppose you own 100 shares of $TWO, currently worth $9.96/share or $996.00 for the 100 shares. You will receive 9.5 shares of $GPMT, currently worth $18.38/share or $174.61. I believe that makes it a 17.53% special dividend. $TWO's normal annual dividend yield is 10.44%.
  • Mpower27: @grcjr $TWO $GPMT boooo you had to be in 4 days ago to get the 17%
  • grcjr: @Mpower27 $TWO $GPMT - $TWO is a long term hold for most all of us holding it. The post does say "As previously announced ..."
  • antfarm: $TWO $GPMT #Yieldhogs @Jan2138 NEW YORK--(BUSINESS WIRE)-- Two Harbors Investment Corp . (NYSE: TWO), a leading hybrid mortgage real estate investment trust, today announced that its Board of Directors has declared a special dividend to distribute the shares of common stock of Granite Point Mortgage Trust Inc. (NYSE: GPMT) (“Granite Point”) acquired by the company in connection with the contribution of its commercial real estate portfolio to Granite Point. The company also announced that its Board of Directors has approved a one-for-two reverse stock split of Two Harbors’ outstanding shares of common stock. On November 1, 2017, the special dividend distribution will occur first, followed by the reverse stock split. Read the full release on their web site if interested. In a nut shell you will receive 0.095 shares of $GPMT for each share of $TWO. Fractionals to be paid in cash. Then $TWO will reverse split.
  • jan2138: @antfarm $TWO $GPMT #Yieldhogs Interesting. Thanks.
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Stock Price $USD 3.54
Change 16.45%
Volume 2,971,000

Granite Point Mortgage Trust Inc is a United States based company. It focuses primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt and debt-like commercial real estate investments. The company construct its investment portfolio on a loan-by-loan basis, emphasizing rigorous credit underwriting, selectivity and diversification, and assess each investment from a fundamental value perspective relative to other opportunities available in the market. It typically provides intermediate-term bridge or transitional financing for a variety of purposes, including acquisitions, recapitalizations, refinancing and a range of business plans, including lease-up, renovation, repositioning and repurposing of the property.

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  • May 4th, 2020 - 2020 Q1 Earnings
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