Intech Investment Management LLC Purchases 7,952 Shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Intech Investment Management LLC lifted its position in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 54.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,432 shares of the company’s stock after purchasing an additional 7,952 shares during the quarter. Intech Investment Management LLC’s holdings in Granite Point Mortgage Trust were worth $63,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Corient Private Wealth LLC raised its stake in Granite Point Mortgage Trust by 10.5% during the 4th quarter. Corient Private Wealth LLC now owns 47,666 shares of the company’s stock worth $133,000 after buying an additional 4,511 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Granite Point Mortgage Trust during the fourth quarter worth about $634,000. Wolverine Asset Management LLC lifted its holdings in shares of Granite Point Mortgage Trust by 209.2% during the 4th quarter. Wolverine Asset Management LLC now owns 493,848 shares of the company’s stock valued at $1,378,000 after purchasing an additional 334,109 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Granite Point Mortgage Trust by 33.1% in the 4th quarter. SG Americas Securities LLC now owns 27,647 shares of the company’s stock valued at $77,000 after purchasing an additional 6,878 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Granite Point Mortgage Trust by 121.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company’s stock worth $892,000 after purchasing an additional 154,202 shares in the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods raised shares of Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $3.00 to $3.25 in a research note on Tuesday, December 10th. UBS Group reduced their target price on shares of Granite Point Mortgage Trust from $3.75 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Finally, JMP Securities reissued a “market perform” rating on shares of Granite Point Mortgage Trust in a research note on Tuesday, February 18th.

Insider Activity at Granite Point Mortgage Trust

In other news, Director Patrick Gregory Halter bought 34,001 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were acquired at an average cost of $2.80 per share, for a total transaction of $95,202.80. Following the completion of the acquisition, the director now owns 34,001 shares in the company, valued at approximately $95,202.80. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 34,770 shares of company stock valued at $108,849. Insiders own 2.30% of the company’s stock.

Granite Point Mortgage Trust Stock Down 2.5 %

NYSE:GPMT opened at $2.63 on Friday. Granite Point Mortgage Trust Inc. has a twelve month low of $2.46 and a twelve month high of $4.74. The company has a market cap of $128.58 million, a P/E ratio of -0.60 and a beta of 1.89. The business has a 50 day moving average price of $2.87 and a two-hundred day moving average price of $3.00.

Granite Point Mortgage Trust (NYSE:GPMT) last released its earnings results on Thursday, February 13th. The company reported ($1.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($1.26). Granite Point Mortgage Trust had a negative net margin of 111.59% and a negative return on equity of 14.08%. The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.90 million. As a group, analysts anticipate that Granite Point Mortgage Trust Inc. will post -2.75 earnings per share for the current fiscal year.

Granite Point Mortgage Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.20 annualized dividend and a yield of 7.60%. Granite Point Mortgage Trust’s payout ratio is presently -4.56%.

About Granite Point Mortgage Trust

Granite Point Mortgage Trust Inc, a real estate investment trust, originates, invests in, and manages senior floating-rate commercial mortgage loans, and other debt and debt-like commercial real estate investments in the United States. The company provides intermediate-term bridge or transitional financing for various purposes, including acquisitions, recapitalizations, and refinancing, as well as a range of business plans, including lease-up, renovation, repositioning, and repurposing of the commercial property.