What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
Granite Point Mortgage Trust Inc. completed a 1-for-10 reverse split of its common stock at 5:00 p.m. Eastern Time on October 5, 2026. Each 10 pre-split common shares became one share; the ticker remains GPMT, and the company lists the post-split CUSIP as 38741L 404. The completion announcement was issued October 6, 2026.
What changed in the Granite Point reverse split?
The company converted every 10 issued and outstanding common shares into one common share. Granite Point reported that its common shares outstanding went from approximately 48.2 million before the split to approximately 4.8 million afterward. Those are issuer-reported approximate figures. Par value per common share did not change.
A reverse split consolidates shares; by itself, it does not establish a change in Granite Point’s underlying business value or guarantee a particular market-price outcome. The announcement is not a recommendation to buy or sell GPMT.
What ticker and CUSIP apply after the split?
Granite Point common stock continues to trade on the New York Stock Exchange under ticker GPMT. The October 6 completion release lists the post-split CUSIP as 38741L 404. The company’s September 23 announcement listed the same identifier without a space: 38741L404.
#1 Best Overall
What happens to fractional shares?
Granite Point said it would not issue fractional shares. A stockholder of record entitled to a fractional share instead receives cash calculated using the October 5 NYSE closing price. The announcement does not establish how long an individual account will take to reflect the cash payment.
For shares held through a brokerage account, the conversion is automatic under the broker’s policies and procedures. Granite Point said those holders need not take action in connection with the split. Brokers may provide account-specific processing details.
Rank #2
- Comes with secure packaging
- Easy to read text
- It can be a gift option
Did the split change the dividend or preferred stock?
The split did not change the previously announced common dividend: $0.01 per pre-split common share, payable October 15, 2026, to shareholders of record at the close of business October 1, 2026. That announced amount is stated on a pre-split-share basis.
The action applied to common stock. It did not change the shares or terms of Granite Point’s 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock.
The Tool Desk
Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →What did Granite Point say about tax treatment?
Granite Point said the reverse split is intended to be tax-free for U.S. federal income tax purposes and that common stockholders generally should not recognize gain or loss, except that cash received instead of a fractional share may be taxable. This is the company’s general description, not an individualized tax conclusion. The company recommends that holders consult their financial and tax advisers about consequences under applicable federal, state, local, or foreign law.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How does the split relate to Granite Point’s strategic review?
In its September 23 announcement, Granite Point said its board was reviewing alternatives that could include a business combination, a sale of some or all assets, or a capital raise. The company said there was no assurance the review would result in a transaction or other outcome and gave no formal timetable. The completion of the reverse split does not establish that any particular transaction will occur.
Granite Point describes itself as a Maryland corporation focused on originating, investing in, and managing senior floating-rate commercial mortgage loans and other debt and debt-like commercial real-estate investments. It is headquartered in New York.
Quick Recap
Best Value
Company announcements
- Granite Point’s October 6, 2026 completion announcement
- Granite Point’s September 23, 2026 announcement of the review and reverse split
- Granite Point press-release index
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
