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Granite Point Mortgage Trust Inc | 5.75% Dep Shares Series A Cumulative Preferred Stock (GRBK.PRA)
Prospectus excerpt: We are offering 2,000,000 depositary shares, each representing a 1/1000th fractional interest in a share of 5.75% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share (the “Series A Preferred Stock”), which we refer to in this prospectus as the “depositary shares”. The depositary shares are evidenced by depositary receipts. 2,000 shares of Series A Preferred Stock represented by the depositary shares will be deposited with Continental Stock Transfer & Trust Company, as depositary. As a holder of the depositary shares, you will be entitled to all proportional rights, preferences and privileges of the Series A Preferred Stock represented thereby, including dividend, voting, redemption and liquidation rights and preferences. You must exercise such rights through the depositary. The liquidation preference of each share of the Series A Preferred Stock is $25,000.00 (equivalent to $25.00 per depositary share). Full Prospectus PDF », Secondary Prospectus PDF », GPMT Page »
Series: | A | Alternate symbology: | GRBK-A, GRBK-PA, GRBKprA | Redeemable?: | Yes | Call Date: | 12/23/2026 | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 2,000,000 | Overallotment: | 300,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $21.85 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-3.15 (-12.60%) | Annualized Dividend: | 1.43752 | Recent Ex-Date: | 2/29/2024 | Current Yield: | 6.58% | Original Coupon: | 5.75% | Pay Period: | Quarterly | Pay Dates: | 15-Mar, 15-Jun, 15-Sep, 15-Dec | CDx3 Compliance Rating: |
Learn GRBK.PRA's Rating
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Granite Point Mortgage Trust is a holding company. Through its subsidiaries, Co. is a real estate finance company that 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. These investments are capitalized by accessing a variety of funding options, including borrowing under Co.'s bank credit facilities or other asset-specific financings, issuing commercial real estate collateralized loan obligations, entering into term financing agreements, and issuing other forms of secured and unsecured debt and equity securities. Co. operates as a real estate investment trust. Preferreds: GPMT.PRA, GRBK.PRA Open the GPMT Information Page »
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Name: |
Granite Point Mortgage Trust Inc |
Website: |
www.gpmtreit.com |
Sector: |
REITs |
Number of ETFs Holding GPMT: |
17 (see which ones) |
Total Market Value Held by ETFs: |
$25,427,552 |
Total Market Capitalization: |
$226,000,000 |
% of Market Cap. Held by ETFs: |
11.25% |
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