Granite Point Mortgage Trust Inc. (NYSE:GPMT) Holdings Raised by Bank of America Corp DE

Bank of America Corp DE increased its stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 111.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,806 shares of the company’s stock after purchasing an additional 34,103 shares during the quarter. Bank of America Corp DE owned about 0.13% of Granite Point Mortgage Trust worth $181,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jane Street Group LLC raised its position 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 buying an additional 132,903 shares in the last quarter. Northern Trust Corp increased its stake 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 valued at $1,469,000 after acquiring an additional 63,970 shares during the period. Gratia Capital LLC bought a new stake in Granite Point Mortgage Trust during the fourth quarter worth approximately $1,953,000. Tower Research Capital LLC TRC lifted its position 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 worth $41,000 after purchasing an additional 9,697 shares during the period. Finally, MetLife Investment Management LLC lifted its position 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 worth $35,000 after purchasing an additional 6,487 shares during the period. Institutional investors own 51.63% of the company’s stock.

Insider Buying and Selling

In other news, Director Lazar Nikolic acquired 47,832 shares of Granite Point Mortgage Trust stock in a transaction on Wednesday, May 21st. The stock was bought at an average cost of $2.50 per share, with a total value of $119,580.00. Following the completion of the purchase, the director now owns 648,594 shares of the company’s stock, valued at $1,621,485. This represents a 7.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased 55,953 shares of company stock worth $138,197 in the last three months. 3.10% of the stock is currently owned by insiders.

Granite Point Mortgage Trust Stock Performance

Shares of NYSE:GPMT opened at $2.42 on Monday. The company has a market capitalization of $117.14 million, a PE ratio of -0.55 and a beta of 1.77. The stock has a fifty day moving average of $2.18 and a 200-day moving average of $2.64. Granite Point Mortgage Trust Inc. has a one year low of $1.61 and a one year high of $3.66.

Analysts Set New Price Targets

A number of research firms have recently commented on GPMT. JMP Securities reissued a “market perform” rating on shares of Granite Point Mortgage Trust in a research note on Tuesday, February 18th. UBS Group reiterated a “buy” rating and issued a $3.25 price target (up from $2.50) on shares of Granite Point Mortgage Trust in a research 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 for the company in a research report on Wednesday, April 30th.

Granite Point Mortgage Trust 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.