Cerity Partners LLC Purchases Shares of 15,658 Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Cerity Partners LLC purchased a new stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,658 shares of the company’s stock, valued at approximately $41,000.

Other hedge funds have also modified their holdings of the company. Epiq Partners LLC raised its position in shares of Granite Point Mortgage Trust by 128.1% in the 1st quarter. Epiq Partners LLC now owns 1,241,150 shares of the company’s stock valued at $3,227,000 after purchasing an additional 696,925 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Granite Point Mortgage Trust by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,200,175 shares of the company’s stock valued at $3,349,000 after purchasing an additional 22,335 shares during the last quarter. Gratia Capital LLC purchased a new position in shares of Granite Point Mortgage Trust in the 4th quarter valued at approximately $1,953,000. Northern Trust Corp raised its position in shares of Granite Point Mortgage Trust by 13.8% in the 4th quarter. Northern Trust Corp now owns 526,465 shares of the company’s stock valued at $1,469,000 after purchasing an additional 63,970 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Granite Point Mortgage Trust by 39.2% in the 4th quarter. JPMorgan Chase & Co. now owns 391,394 shares of the company’s stock valued at $1,092,000 after purchasing an additional 110,143 shares during the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Granite Point Mortgage Trust news, Director Lazar Nikolic purchased 47,832 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were bought at an average price of $2.50 per share, for a total transaction of $119,580.00. Following the acquisition, the director owned 648,594 shares in the company, valued at $1,621,485. This represents a 7.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have purchased 55,953 shares of company stock valued at $138,197. 3.10% of the stock is currently owned by corporate insiders.

Granite Point Mortgage Trust Trading Down 2.5%

Shares of NYSE:GPMT opened at $2.52 on Thursday. Granite Point Mortgage Trust Inc. has a twelve month low of $1.61 and a twelve month high of $3.66. The company’s 50 day moving average is $2.52 and its 200 day moving average is $2.52. The company has a market cap of $121.75 million, a PE ratio of -0.82 and a beta of 1.71.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a $0.05 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.20 annualized dividend and a yield of 7.95%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -6.49%.

Analyst Upgrades and Downgrades

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

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.