Granite Point Mortgage Trust stock approves a 1-for-10 reverse split

Published on 09/29/2026 at 20:43 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Granite Point Mortgage Trust stock will convert 10 shares into one on October 5, 2026, reducing 48.2 million shares to 4.8 million. The common dividend is USD 0.01.

GPMT, US38741L1070, Illustration mit AI erstellt.

Granite Point Mortgage Trust (ISIN US38741L1070) stock was trading at EUR 0.79 at Lang & Schwarz on September 29, 2026 at 8:38 p.m. CEST, unchanged from the prior close of EUR 0.79. The company is preparing a one-for-ten reverse stock split while cutting its common dividend to USD 0.01 per share.

Reverse split starts October 5

According to Financial Times on September 23, 2026, Granite Point Mortgage Trust will convert every 10 common shares into one share at 5:00 p.m. ET on October 5, 2026. The outstanding share count is expected to fall from 48.2 million to 4.8 million, while the stock will continue trading on the NYSE under the GPMT symbol from October 6, 2026.

The reverse split follows the board's review of alternatives to enhance stockholder value, including a business combination, an asset sale or a capital raise. The company stated that the review has no formal timetable, which leaves the split as the clearest scheduled corporate action for GPMT stock.

Dividend cut highlights capital pressure

Granite Point Mortgage Trust said on September 15, 2026, that its quarterly common dividend would be USD 0.01 per share, down from USD 0.05 in the prior quarter. The payment is scheduled for October 15, 2026, for holders of record on October 1, 2026.

The same update described a USD 52.4 million risk-rated 5 multifamily loan resolution and an expected USD 19.9 million write-off that had already been reserved. It also reported two office loan repayments totaling USD 19.5 million and approximately USD 32.4 million in unrestricted cash as of September 14, 2026.

Q2 loss sets the risk backdrop

Granite Point Mortgage Trust reported a Q2 2026 net loss attributable to common stockholders of USD 62.0 million, compared with a USD 16.96 million loss in Q2 2025, according to Capdex on September 24, 2026. Diluted loss per share widened to USD 1.29 from USD 0.35, while interest income fell to USD 21.8 million from USD 33.8 million.

GPMT stock holds at EUR 0.79

At Lang & Schwarz, GPMT stock was trading at EUR 0.79 on September 29, 2026 at 8:38 p.m. CEST, unchanged at 0.00 percent versus the Lang & Schwarz prior close of EUR 0.79 on September 28, 2026. The market capitalization was USD 42.6 million as of September 29, 2026, while the NYSE quote was USD 0.89 at 2:39 p.m. ET.