Short interest spikes in mortgage REIT

Short sellers sharply increased their bets against Granite Point Mortgage Trust in late March, targeting a lender tied to commercial real estate loans. (marketbeat.com) Short interest in Granite Point Mortgage Trust reached 254,212 shares on March 31, up 86.0% from 136,643 shares on March 15, according to market data compiled from New York Stock Exchange reporting. The stock’s days-to-cover ratio stood at 1.3 based on average daily volume of 195,453 shares. (marketbeat.com, nyse.com) Granite Point Mortgage Trust is a mortgage real estate investment trust, a company that lends against property rather than owning buildings outright. The company says it focuses on senior floating-rate commercial mortgage loans and other debt investments backed by commercial real estate. (gpmtreit.com, sec.gov) That business model leaves results tied to property credit quality, loan repayments and financing costs. Granite Point reported a fourth-quarter 2025 net loss attributable to common stockholders of $27.4 million, including a $14.4 million provision for credit losses. (gpmtreit.com, sec.gov) At December 31, 2025, Granite Point said book value per common share was $7.29, including a $3.12-per-share current expected credit loss reserve. The company also said its loan portfolio totaled $1.8 billion in commitments, with 97% floating-rate exposure and more than 99% senior loans. (gpmtreit.com, gpmtreit.com) Granite Point’s investor materials show the common stock at $1.32 on April 2, 2026, far below that reported book value, a gap that often reflects investor doubt about future asset marks or recoveries. The company also listed a 52-week trading range of $1.24 to $3.115. (investors.gpmtreit.com) Management has been selling assets and resolving troubled loans to shrink risk. Granite Point said on February 11 that it had completed five loan resolutions, seven full loan repayments and one real-estate-owned asset sale in 2025, then said on April 7 that it had sold a hotel loan above par and resolved another loan it had labeled risk-rated “5.” (gpmtreit.com, investors.gpmtreit.com) The company has also been reducing leverage. Granite Point said in February that it had lowered its total leverage ratio to 1.7 times from 2.0 times after receiving two full loan repayments totaling $174 million in early 2026. (gpmtreit.com) Granite Point is scheduled to report first-quarter 2026 results on May 6, 2026. That update is likely to show whether the March jump in short interest tracked new pressure on the loan book or a market bet that the cleanup will take longer. (investors.gpmtreit.com)