Price T Rowe Associates Inc. MD Trims Stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Price T Rowe Associates Inc. MD lowered its stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 29.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 92,070 shares of the company’s stock after selling 37,665 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.18% of Granite Point Mortgage Trust worth $257,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wolverine Asset Management LLC increased its holdings in shares of Granite Point Mortgage Trust by 209.2% during the 4th 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 during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Granite Point Mortgage Trust by 121.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company’s stock worth $892,000 after buying an additional 154,202 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Granite Point Mortgage Trust during the 4th quarter worth $43,000. Raymond James Financial Inc. acquired a new stake in shares of Granite Point Mortgage Trust during the 4th quarter worth $634,000. Finally, Geode Capital Management LLC increased its holdings in shares of Granite Point Mortgage Trust by 1.9% during the 4th 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 last quarter. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Granite Point Mortgage Trust Price Performance

NYSE:GPMT opened at $2.46 on Friday. The business’s 50-day moving average is $2.22 and its two-hundred day moving average is $2.76. Granite Point Mortgage Trust Inc. has a 12 month low of $1.61 and a 12 month high of $3.66. The firm has a market capitalization of $119.08 million, a PE ratio of -0.56 and a beta of 1.66.

Granite Point Mortgage Trust (NYSE:GPMT) last released its quarterly earnings data on Thursday, February 13th. The company reported ($1.99) EPS for the quarter, missing the consensus estimate 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 company had revenue of $7.57 million during the quarter, compared to analysts’ expectations of $7.90 million. Equities analysts anticipate that Granite Point Mortgage Trust Inc. will post -2.75 EPS for the current year.

Granite Point Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 8.13%. The ex-dividend date of this dividend was Tuesday, April 1st. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -6.49%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GPMT. UBS Group dropped 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. JMP Securities restated a “market perform” rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods dropped their price objective 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.

Insider Buying and Selling at Granite Point Mortgage Trust

In other Granite Point Mortgage Trust news, Director Patrick Gregory Halter bought 34,001 shares of the stock in a transaction dated Tuesday, February 25th. The stock was bought 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 of the company’s stock, valued at approximately $95,202.80. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased 34,770 shares of company stock valued at $108,849 over the last three months. 2.30% of the stock is owned by company 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.