Nisa Investment Advisors LLC Has $139,000 Stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Nisa Investment Advisors LLC lifted its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 229.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,327 shares of the company’s stock after acquiring an additional 37,137 shares during the period. Nisa Investment Advisors LLC owned approximately 0.11% of Granite Point Mortgage Trust worth $139,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Granite Point Mortgage Trust in the 1st quarter valued at approximately $30,000. MetLife Investment Management LLC lifted its holdings in shares of 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 buying an additional 6,487 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Granite Point Mortgage Trust in the fourth quarter valued at approximately $40,000. Tower Research Capital LLC TRC grew its position in Granite Point Mortgage Trust by 190.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,786 shares of the company’s stock valued at $41,000 after acquiring an additional 9,697 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Granite Point Mortgage Trust in the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 51.63% of the company’s stock.

Insider Buying and Selling

In related news, Director Lazar Nikolic acquired 47,832 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were purchased 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 owned 648,594 shares of the company’s stock, valued at approximately $1,621,485. This trade represents a 7.96% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders purchased 55,953 shares of company stock valued at $138,197. 3.10% of the stock is owned by company insiders.

Granite Point Mortgage Trust Trading Down 0.6%

Granite Point Mortgage Trust stock opened at $2.50 on Friday. The stock has a fifty day moving average price of $2.49 and a 200 day moving average price of $2.54. Granite Point Mortgage Trust Inc. has a 52 week low of $1.61 and a 52 week high of $3.66. The firm has a market capitalization of $120.78 million, a P/E ratio of -0.81 and a beta of 1.71.

Granite Point Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 8.02%. The ex-dividend date was Tuesday, July 1st. Granite Point Mortgage Trust’s payout ratio is -6.49%.

Analyst Ratings Changes

GPMT has been the subject of a number of recent research reports. UBS Group restated a “buy” rating and set a $3.25 price target (up from $2.50) on shares of Granite Point Mortgage Trust in a research note on Wednesday, May 21st. Wall Street Zen upgraded Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Finally, Keefe, Bruyette & Woods raised their target price on Granite Point Mortgage Trust from $2.25 to $2.75 and gave the stock a “market perform” rating in a report on Thursday, July 10th.

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.