Granite Point Mortgage Trust Inc. (NYSE:GPMT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 16.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 179,850 shares of the company’s stock after selling 36,377 shares during the period. Ameriprise Financial Inc.’s holdings in Granite Point Mortgage Trust were worth $502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Jane Street Group LLC grew its position in shares of Granite Point Mortgage Trust by 120.4% during the fourth quarter. Jane Street Group LLC now owns 243,265 shares of the company’s stock worth $679,000 after buying an additional 132,903 shares in the last quarter. Northern Trust Corp grew its position in shares of Granite Point Mortgage Trust by 13.8% during the fourth quarter. Northern Trust Corp now owns 526,465 shares of the company’s stock worth $1,469,000 after buying an additional 63,970 shares in the last quarter. Gratia Capital LLC acquired a new position in Granite Point Mortgage Trust in the fourth quarter valued at approximately $1,953,000. Tower Research Capital LLC TRC boosted its holdings in Granite Point Mortgage Trust by 190.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,786 shares of the company’s stock valued at $41,000 after purchasing an additional 9,697 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Granite Point Mortgage Trust by 104.8% in the fourth quarter. MetLife Investment Management LLC now owns 12,676 shares of the company’s stock valued at $35,000 after purchasing an additional 6,487 shares in the last quarter. 51.63% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Granite Point Mortgage Trust

In other Granite Point Mortgage Trust news, Director Lazar Nikolic acquired 47,832 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were purchased at an average price of $2.50 per share, with a total value of $119,580.00. Following the completion of the acquisition, the director now directly owns 648,594 shares of the company’s stock, valued at approximately $1,621,485. The trade was a 7.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders purchased 55,953 shares of company stock worth $138,197 over the last 90 days. 2.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GPMT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered their price target on Granite Point Mortgage Trust from $2.50 to $2.25 and set a “market perform” rating for the company in a report on Wednesday, April 30th. UBS Group reaffirmed a “buy” rating and issued a $3.25 price target (up from $2.50) on shares of Granite Point Mortgage Trust in a report on Wednesday, May 21st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th.

Granite Point Mortgage Trust Trading Up 5.7%

GPMT stock opened at $2.68 on Wednesday. The company has a market capitalization of $129.49 million, a P/E ratio of -0.61 and a beta of 1.66. Granite Point Mortgage Trust Inc. has a twelve month low of $1.61 and a twelve month high of $3.66. The business has a 50 day simple moving average of $2.14 and a 200-day simple moving average of $2.70.

Granite Point Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 7.48%. The ex-dividend date was Tuesday, April 1st. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -6.49%.

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.