Granite Point Board Weighs Alternatives, Approves 1-for-10 Reverse Stock Split

05:11 PM EDT, 09/23/2026 (MT Newswires) -- Granite Point Mortgage Trust's (GPMT) board is reviewing strategic alternatives and has approved a 1-for-10 reverse split of its common stock, the company said Tuesday. The board is evaluating options including a business combination, a sale of all or part of its assets, or a capital-raise transaction, the company said. The reverse stock split will take place on Oct. 5 at 5 pm Eastern time. The split will reduce Granite Point's outstanding common shares to about 4.8 million from 48.2 million. Granite Point shares rose 3.7% in after-hours trading.