Bank of Montreal Can Has $120,000 Stock Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Bank of Montreal Can cut its holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 27.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,996 shares of the company’s stock after selling 16,521 shares during the quarter. Bank of Montreal Can’s holdings in Granite Point Mortgage Trust were worth $120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GPMT. Virtu Financial LLC bought a new stake in shares of Granite Point Mortgage Trust in the 4th quarter valued at $43,000. Intech Investment Management LLC raised its holdings in shares of Granite Point Mortgage Trust by 54.9% during the fourth quarter. Intech Investment Management LLC now owns 22,432 shares of the company’s stock valued at $63,000 after purchasing an additional 7,952 shares during the period. SG Americas Securities LLC boosted its position in shares of Granite Point Mortgage Trust by 33.1% during the 4th quarter. SG Americas Securities LLC now owns 27,647 shares of the company’s stock worth $77,000 after purchasing an additional 6,878 shares in the last quarter. Wells Fargo & Company MN increased its position in Granite Point Mortgage Trust by 23.7% in the 4th quarter. Wells Fargo & Company MN now owns 34,395 shares of the company’s stock valued at $96,000 after buying an additional 6,599 shares in the last quarter. Finally, 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. 51.63% of the stock is currently owned by institutional investors.

Granite Point Mortgage Trust Trading Down 6.3 %

NYSE GPMT opened at $1.65 on Friday. The business has a fifty day simple moving average of $2.44 and a 200 day simple moving average of $2.85. Granite Point Mortgage Trust Inc. has a 12 month low of $1.61 and a 12 month high of $4.50. The firm has a market capitalization of $80.60 million, a P/E ratio of -0.38 and a beta of 1.46.

Granite Point Mortgage Trust (NYSE:GPMT) last released its quarterly 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 firm had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.90 million. As a group, sell-side analysts predict that Granite Point Mortgage Trust Inc. will post -2.75 EPS for the current fiscal year.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 12.12%. The ex-dividend date of this dividend was Tuesday, April 1st. Granite Point Mortgage Trust’s dividend payout ratio is presently -4.56%.

Analysts Set New Price Targets

GPMT has been the subject of several recent research reports. UBS Group decreased their price objective on Granite Point Mortgage Trust from $3.50 to $2.50 and set a “buy” rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods lowered their price objective on shares of Granite Point Mortgage Trust from $2.75 to $2.50 and set a “market perform” rating on the stock in a report on Monday, April 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th.

Insider Activity at Granite Point Mortgage Trust

In related news, Director Patrick Gregory Halter bought 34,001 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were purchased at an average cost of $2.80 per share, for a total transaction of $95,202.80. Following the completion of the purchase, the director now directly owns 34,001 shares in the company, valued at $95,202.80. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders acquired 34,770 shares of company stock valued at $108,849. 2.30% of the stock is owned by insiders.

Granite Point Mortgage Trust Company Profile

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.