Granite Point Mortgage Trust stock fell 2.31 percent before split

Published on 10/05/2026 at 22:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Granite Point Mortgage Trust stock entered a 1-for-10 reverse split on October 5, 2026, reducing 48.2 million shares to 4.8 million. The USD 0.01 dividend remains payable October 15.

GPMT, US38741L1070, Illustration mit AI erstellt.

Granite Point Mortgage Trust stock (ISIN US38741L1070) was last at USD 0.74 on the NYSE on October 5, 2026, down 2.31 percent, as the company reached the effective time of its 1-for-10 reverse stock split. The split took effect at 5:00 p.m. ET, while the board's strategic review keeps business combination, asset sale and capital raising options in view, according to Granite Point Mortgage Trust on September 23, 2026.

Split changes the share count

Every 10 common shares became one share at the effective time. The release states that the common share count changes from 48.2 million to 4.8 million, with trading continuing under GPMT on the NYSE when the market opens on October 6, 2026.

The reverse split does not change the company's authorized share capital or the terms of its 7.00% Series A preferred stock. The common dividend remains USD 0.01 per pre-split share and is payable on October 15, 2026, to holders of record from October 1, 2026, according to Granite Point Mortgage Trust.

Strategic review sets the direction

The board is evaluating a business combination, a sale of all or part of the assets, and a capital raise. That gives the stock a corporate-action angle beyond the mechanical share-count change, but the September 23 release does not attach a transaction value to any option.

MarketBeat lists a Reduce consensus based on 4 research reports, with an average price target of USD 1.33, a low of USD 1.25 and a high of USD 1.50. The average target lies 79.7 percent above the USD 0.74 price, according to MarketBeat.

Portfolio remains credit focused

Granite Point originates, invests in and manages senior floating-rate commercial mortgage loans and related commercial real estate investments. Its investor-relations page lists 38 loans, USD 1.5 billion in total commitments, USD 1.4 billion in unpaid principal balance and a 6.0 percent realized portfolio yield as of June 30, 2026, according to Granite Point Mortgage Trust.

Stock stays near yearly low

At USD 0.74, GPMT was 75.2 percent below its USD 2.98 52-week high on October 5, 2026. Trading volume was 318,884 shares and market capitalization was USD 35.6 million on the same date, making the split and the strategic review the central corporate variables for the next session.