Granite Point Mortgage Trust Inc. (NYSE: GPMT) has completed a 1-for-10 reverse stock split of its common stock, as reported in a filing with the Securities and Exchange Commission on October 5, 2026. The reverse split became effective at 5:00 p.m. Eastern Time on October 5, 2026, converting every ten shares of common stock outstanding at that time into one share.
The transaction reduced the total number of issued and outstanding common shares from 48,198,166 to approximately 4,819,100. The company stated that the split affected all holders uniformly and did not alter their percentage ownership interest, aside from minor changes resulting from the elimination of fractional shares.
Granite Point also filed two Articles of Amendment with the State Department of Assessments and Taxation of Maryland to implement the split. The first amendment established the 1-for-10 ratio and temporarily increased the par value of each share from $0.01 to $0.10. The second amendment immediately restored the par value to $0.01 per share following the split. Fractional shares resulting from the split will be settled through a cash payment calculated based on the closing price of the stock on October 5, 2026.
The company confirmed that the reverse stock split does not impact the previously announced dividend. The dividend of $0.01 per pre-split share will be paid on October 15, 2026, to stockholders of record as of October 1, 2026. Additionally, the split applies only to common stock and does not affect the company’s 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock.
Trading of the common stock on the New York Stock Exchange resumed on a split-adjusted basis on October 6, 2026, under the existing ticker symbol "GPMT." The new CUSIP number for the common stock is 38741L 404.
