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Market Impact: 0.12
Granite Point Mortgage Trust's Series A Preferred Stock Shares Cross 10.5% Yield Mark
Source: Nasdaq
Capital Returns (Dividends / Buybacks)Interest Rates & YieldsHousing & Real Estate
Granite Point Mortgage Trust's 7.0% Series A fixed/floating cumulative preferred shares (GPMT.PRA) traded as low as $16.12 on Thursday, lifting the annualized $1.75 dividend yield above 10.5%. The elevated yield reflects the preferred stock's discounted trading level and is primarily a security-specific market update.
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