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

Ameriprise Financial Inc. lessened its holdings in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 16.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 179,850 shares of the company’s stock after selling 36,377 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.36% of Granite Point Mortgage Trust worth $502,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Jane Street Group LLC raised its holdings in shares of Granite Point Mortgage Trust by 120.4% during the 4th quarter. Jane Street Group LLC now owns 243,265 shares of the company’s stock worth $679,000 after acquiring an additional 132,903 shares during the period. Northern Trust Corp raised its holdings in shares of Granite Point Mortgage Trust by 13.8% during the 4th quarter. Northern Trust Corp now owns 526,465 shares of the company’s stock worth $1,469,000 after acquiring an additional 63,970 shares during the period. Gratia Capital LLC purchased a new position in shares of Granite Point Mortgage Trust during the 4th quarter worth $1,953,000. Tower Research Capital LLC TRC raised its holdings in shares of Granite Point Mortgage Trust by 190.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,786 shares of the company’s stock worth $41,000 after acquiring an additional 9,697 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in shares of Granite Point Mortgage Trust by 104.8% during the 4th quarter. MetLife Investment Management LLC now owns 12,676 shares of the company’s stock worth $35,000 after acquiring an additional 6,487 shares during the period. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Insider Buying and Selling at Granite Point Mortgage Trust

In related news, Director Lazar Nikolic acquired 47,832 shares of the stock in a transaction dated Wednesday, May 21st. The stock was acquired at an average cost of $2.50 per share, with a total value of $119,580.00. Following the completion of the transaction, the director now owns 648,594 shares in the company, valued at $1,621,485. This represents a 7.96% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 55,953 shares of company stock valued at $138,197 in the last three months. 2.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GPMT has been the topic of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th. UBS Group restated a “buy” rating and issued a $3.25 price objective (up from $2.50) on shares of Granite Point Mortgage Trust in a report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of 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.

Granite Point Mortgage Trust Trading Up 5.7%

Shares of GPMT opened at $2.68 on Wednesday. The firm has a market cap of $129.49 million, a P/E ratio of -0.61 and a beta of 1.66. Granite Point Mortgage Trust Inc. has a 12-month low of $1.61 and a 12-month high of $3.66. The company’s 50-day moving average price is $2.14 and its 200 day moving average price is $2.70.

Granite Point Mortgage Trust Announces Dividend

The company also recently announced 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 7.48%. The ex-dividend date of this dividend was Tuesday, April 1st. Granite Point Mortgage Trust’s dividend payout ratio is currently -6.49%.

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.