GPMT-A Granite Point Mortgage Trust Inc. 7.00% Series A Fixed-to-Floating Rate Cumulative Preferred
Cumulative cash dividends (i) from and including the original issue date to, but excluding, January 15, 2027 at a fixed rate equal to 7.00% per annum of the $25.00 per share liquidation preference (equivalent to $1.75 per annum per share) and (ii) from and including January 15, 2027 at a floating rate equal to a benchmark rate (which is expected to be Three-Month Term SOFR) plus a spread of 5.83% per annum of the $25.00 per share liquidation preference, or the Floating Rate; provided, however, that in no event shall the Floating Rate be lower than 7%. Dividends will be payable quarterly in arrears, on or about the 15th day of April, July, October and January of each year, when and as declared. On or after November 30, 2026 we may, at our option, redeem any or all of the shares of the Series A Preferred Stock at $25.00 per share, plus any accumulated and unpaid dividends to, but not including, the redemption date. This security was issued by Granite Point Mortgage Trust Inc., whose common stock symbol is GPMT.
$16.91 -0.09 (-0.50%)
As of 03/24/2023 16:00:00 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Preferred stocks
Category3: Non-convertible
GICS sector: Financials
Industry: REIT—Mortgage
Index country: USA
Country of incorporation: USA
IPO date: 11/23/2021
Outstanding shares: 4,000,000
Average volume: 5,674
Market cap: $83,160,000
Current dividend yield: 8.42% calculation
Initial coupon rate: 7.000%
Cumulative: Yes
Liquidation value: $25.00
Callable after: 11/30/2026
Maturity date: n/a - perpetual
Prospectus: Read on SEC.gov
All SEC filings: SEC Edgar Online
Quarterly filings: 10-Q
Annual filings: 10-K
Sedol: