47,718 Shares in Granite Point Mortgage Trust Inc. $GPMT Purchased by Vident Advisory LLC

Vident Advisory LLC purchased a new position in Granite Point Mortgage Trust Inc. (NYSE:GPMT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 47,718 shares of the company’s stock, valued at approximately $124,000. Vident Advisory LLC owned approximately 0.10% of Granite Point Mortgage Trust as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GPMT. Epiq Partners LLC raised its position 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 worth $3,227,000 after purchasing an additional 696,925 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Granite Point Mortgage Trust in the first quarter worth about $443,000. Nuveen LLC acquired a new position in Granite Point Mortgage Trust in the first quarter worth about $403,000. Jane Street Group LLC raised its position 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 worth $679,000 after purchasing an additional 132,903 shares in the last quarter. Finally, Northern Trust Corp raised its position 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 worth $1,469,000 after purchasing an additional 63,970 shares in the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

Insider Transactions at Granite Point Mortgage Trust

In other Granite Point Mortgage Trust news, Director Lazar Nikolic acquired 3,000 shares of Granite Point Mortgage Trust stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of $19.61 per share, with a total value of $58,830.00. Following the completion of the purchase, the director owned 4,193 shares in the company, valued at $82,224.73. The trade was a 251.47% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GPMT shares. Keefe, Bruyette & Woods increased their price target on shares of Granite Point Mortgage Trust from $2.25 to $2.75 and gave the stock 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 note on Saturday, June 21st. Finally, UBS Group upped their price objective on shares of Granite Point Mortgage Trust from $3.25 to $3.50 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.13.

Granite Point Mortgage Trust Price Performance

GPMT opened at $3.01 on Thursday. Granite Point Mortgage Trust Inc. has a one year low of $1.61 and a one year high of $3.66. The company’s 50 day simple moving average is $2.70 and its 200-day simple moving average is $2.50. The stock has a market capitalization of $142.44 million, a P/E ratio of -1.42 and a beta of 1.83.

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 paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend 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%.

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.