Granite Point Mortgage Trust Inc. (NYSE:GPMT - Get Free Report) Director Patrick Gregory Halter bought 34,001 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was bought at an average price of $2.80 per share, for a total transaction of $95,202.80. Following the transaction, the director now owns 34,001 shares of the company's stock, valued at approximately $95,202.80. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Granite Point Mortgage Trust Trading Up 3.2 %
NYSE:GPMT opened at $2.86 on Thursday. The company's 50-day moving average price is $2.89 and its 200-day moving average price is $2.97. The company has a market cap of $142.88 million, a P/E ratio of -0.65 and a beta of 1.86. Granite Point Mortgage Trust Inc. has a twelve month low of $2.46 and a twelve month high of $5.01.
Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) last posted its quarterly earnings results 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). Granite Point Mortgage Trust had a negative return on equity of 14.08% and a negative net margin of 111.59%. The business had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.90 million. On average, analysts expect that Granite Point Mortgage Trust Inc. will post -2.75 earnings per share for the current year.
Granite Point Mortgage Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Point Mortgage Trust's dividend payout ratio (DPR) is presently -4.56%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Granite Point Mortgage Trust from an "underperform" rating to a "market perform" rating and lifted their target price for the company from $3.00 to $3.25 in a research report on Tuesday, December 10th. JMP Securities reissued a "market perform" rating on shares of Granite Point Mortgage Trust in a research note on Tuesday, February 18th. Finally, UBS Group decreased their price target on shares of Granite Point Mortgage Trust from $3.75 to $3.50 and set a "buy" rating on the stock in a research note on Tuesday.
Check Out Our Latest Research Report on GPMT
Hedge Funds Weigh In On Granite Point Mortgage Trust
A number of institutional investors have recently bought and sold shares of GPMT. ProShare Advisors LLC purchased a new stake in shares of Granite Point Mortgage Trust in the 4th quarter valued at approximately $40,000. Millennium Management LLC raised its stake in shares of Granite Point Mortgage Trust by 112.5% in the 4th quarter. Millennium Management LLC now owns 28,222 shares of the company's stock valued at $79,000 after acquiring an additional 14,941 shares during the period. Graham Capital Management L.P. raised its stake in shares of Granite Point Mortgage Trust by 13.9% in the 4th quarter. Graham Capital Management L.P. now owns 32,850 shares of the company's stock valued at $92,000 after acquiring an additional 4,015 shares during the period. Bank of America Corp DE raised its stake in shares of Granite Point Mortgage Trust by 111.1% in the 4th quarter. Bank of America Corp DE now owns 64,806 shares of the company's stock valued at $181,000 after acquiring an additional 34,103 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of Granite Point Mortgage Trust by 120.4% in the 4th quarter. Jane Street Group LLC now owns 243,265 shares of the company's stock valued at $679,000 after acquiring an additional 132,903 shares during the period. 51.63% of the stock is owned by hedge funds and other institutional investors.
About Granite Point Mortgage Trust
(
Get Free Report)
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.
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