Granite Point Mortgage Trust Inc. (NYSE:GPMT) Shares Bought by Barclays PLC

Barclays PLC boosted its holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 6.6% in the 4th quarter, HoldingsChannel reports. The fund owned 123,382 shares of the company’s stock after acquiring an additional 7,632 shares during the quarter. Barclays PLC’s holdings in Granite Point Mortgage Trust were worth $344,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC increased its position in Granite Point Mortgage Trust by 209.2% during the fourth quarter. Wolverine Asset Management LLC now owns 493,848 shares of the company’s stock worth $1,378,000 after buying an additional 334,109 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Granite Point Mortgage Trust during the fourth quarter worth approximately $634,000. JPMorgan Chase & Co. increased its position in shares of Granite Point Mortgage Trust by 121.4% in the third quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company’s stock worth $892,000 after acquiring an additional 154,202 shares in the last quarter. Geode Capital Management LLC boosted its position 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 buying an additional 22,335 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Granite Point Mortgage Trust during the 4th quarter worth $43,000. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Granite Point Mortgage Trust Stock Performance

Shares of GPMT stock opened at $2.13 on Friday. Granite Point Mortgage Trust Inc. has a 1 year low of $1.61 and a 1 year high of $3.69. The firm has a market capitalization of $103.10 million, a PE ratio of -0.49 and a beta of 1.66. The stock has a fifty day moving average of $2.27 and a two-hundred day moving average of $2.78.

Granite Point Mortgage Trust (NYSE:GPMT) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($1.99) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($1.26). The business had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.90 million. Granite Point Mortgage Trust had a negative net margin of 111.59% and a negative return on equity of 14.08%. Equities research analysts predict that Granite Point Mortgage Trust Inc. will post -2.75 earnings per share 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. The ex-dividend date was Tuesday, April 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 9.39%. Granite Point Mortgage Trust’s payout ratio is currently -6.49%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GPMT. JMP Securities restated a “market perform” rating on shares of Granite Point Mortgage Trust in a research note on Tuesday, February 18th. 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 report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut their price target on Granite Point Mortgage Trust from $2.50 to $2.25 and set a “market perform” rating on the stock in a report on Wednesday, April 30th.

Insider Transactions at Granite Point Mortgage Trust

In other news, Director Patrick Gregory Halter bought 34,001 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were bought at an average cost of $2.80 per share, with a total value of $95,202.80. Following the transaction, the director now directly owns 34,001 shares in the company, valued at approximately $95,202.80. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 34,770 shares of company stock valued at $108,849 over the last quarter. Company insiders own 2.30% of the company’s stock.

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.