Granite Point Mortgage Trust Inc. $GPMT Shares Sold by Invesco Ltd.

Invesco Ltd. trimmed its holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 16.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 254,545 shares of the company’s stock after selling 49,358 shares during the quarter. Invesco Ltd. owned 0.53% of Granite Point Mortgage Trust worth $662,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GPMT. Epiq Partners LLC boosted its holdings in Granite Point Mortgage Trust by 128.1% in the first 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. Raymond James Financial Inc. purchased a new stake in Granite Point Mortgage Trust in the fourth quarter valued at $634,000. Oppenheimer & Co. Inc. purchased a new stake in Granite Point Mortgage Trust in the first quarter valued at $443,000. Jane Street Group LLC boosted its holdings in Granite Point Mortgage Trust by 120.4% in the fourth quarter. Jane Street Group LLC now owns 243,265 shares of the company’s stock valued at $679,000 after purchasing an additional 132,903 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Granite Point Mortgage Trust by 13.8% in the fourth 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. 51.63% of the stock is owned by hedge funds and other institutional investors.

Granite Point Mortgage Trust Price Performance

NYSE:GPMT opened at $2.97 on Friday. The firm has a market capitalization of $140.54 million, a PE ratio of -1.40 and a beta of 1.83. The business’s fifty day moving average price is $2.67 and its 200 day moving average price is $2.50. Granite Point Mortgage Trust Inc. has a 12 month low of $1.61 and a 12 month high of $3.66.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Tuesday, July 1st. Granite Point Mortgage Trust’s dividend payout ratio is -9.43%.

Wall Street Analysts Forecast Growth

GPMT has been the topic of several recent research reports. Wall Street Zen raised shares of Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Keefe, Bruyette & Woods upped 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 note on Thursday, July 10th. Finally, UBS Group increased their price target on shares of Granite Point Mortgage Trust from $3.25 to $3.50 and gave the company a “buy” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Granite Point Mortgage Trust currently has an average rating of “Hold” and a consensus target price of $3.13.

Insider Buying and Selling

In other Granite Point Mortgage Trust news, Director Lazar Nikolic bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average price of $19.61 per share, with a total value of $58,830.00. Following the completion of the acquisition, the director directly owned 4,193 shares of the company’s stock, valued at $82,224.73. This represents a 251.47% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is owned by company insiders.

About Granite Point Mortgage Trust

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.