MetLife Investment Management LLC Has $35,000 Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

MetLife Investment Management LLC lifted its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 104.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,676 shares of the company’s stock after purchasing an additional 6,487 shares during the quarter. MetLife Investment Management LLC’s holdings in Granite Point Mortgage Trust were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wolverine Asset Management LLC increased its stake in shares of Granite Point Mortgage Trust by 209.2% in the fourth quarter. Wolverine Asset Management LLC now owns 493,848 shares of the company’s stock valued at $1,378,000 after buying an additional 334,109 shares during the period. Raymond James Financial Inc. acquired a new position in Granite Point Mortgage Trust in the 4th quarter valued at approximately $634,000. JPMorgan Chase & Co. raised its stake in shares of Granite Point Mortgage Trust by 121.4% during the third quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company’s stock valued at $892,000 after acquiring an additional 154,202 shares during the last quarter. Barclays PLC lifted its holdings in shares of Granite Point Mortgage Trust by 64.4% during the third quarter. Barclays PLC now owns 115,750 shares of the company’s stock worth $367,000 after purchasing an additional 45,323 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Granite Point Mortgage Trust by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,200,175 shares of the company’s stock worth $3,349,000 after purchasing an additional 22,335 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Granite Point Mortgage Trust Trading Down 2.3 %

Shares of Granite Point Mortgage Trust stock opened at $2.13 on Friday. The company has a market cap of $103.10 million, a P/E ratio of -0.49 and a beta of 1.66. The business has a 50-day moving average price of $2.27 and a two-hundred day moving average price of $2.78. Granite Point Mortgage Trust Inc. has a 1-year low of $1.61 and a 1-year high of $3.69.

Granite Point Mortgage Trust (NYSE:GPMT) last issued 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). The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.90 million. Granite Point Mortgage Trust had a negative return on equity of 14.08% and a negative net margin of 111.59%. Equities research analysts forecast that Granite Point Mortgage Trust Inc. will post -2.75 EPS for the current fiscal year.

Granite Point Mortgage Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 9.39%. The ex-dividend date of this dividend was Tuesday, April 1st. Granite Point Mortgage Trust’s dividend payout ratio is presently -6.49%.

Insider Buying and Selling at Granite Point Mortgage Trust

In other news, Director Patrick Gregory Halter acquired 34,001 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was purchased at an average price of $2.80 per share, for a total transaction of $95,202.80. Following the completion of the acquisition, the director now directly owns 34,001 shares in the company, valued at $95,202.80. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders purchased 34,770 shares of company stock valued at $108,849. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

GPMT has been the subject of several analyst reports. UBS Group lowered their target price on Granite Point Mortgage Trust from $3.50 to $2.50 and set a “buy” rating for the company in a research report on Wednesday, April 16th. JMP Securities reaffirmed a “market perform” rating on shares of Granite Point Mortgage Trust in a research note on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Granite Point Mortgage Trust from $2.50 to $2.25 and set a “market perform” rating for the company in a research report on Wednesday, April 30th.

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.