Why Granite Point Mortgage Trust's Stock Is Trading Higher Today

Granite Point Mortgage Trust (NYSE: GPMT) shares are trading higher on Monday after the company announced it secured $300 million in strategic financing.

Granite Point Mortgage Trust 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.

Granite Point Mortgage Trust shares are trading up 13.95% at $6.70 at the time of publication on Monday. The stock has a 52-week high of $18.97 and a 52-week low of $1.74.