Acadian Asset Management LLC Increases Stock Holdings in Granite Point Mortgage Trust Inc. $GPMT

Acadian Asset Management LLC lifted its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 602,372 shares of the company’s stock after acquiring an additional 51,780 shares during the period. Acadian Asset Management LLC owned 1.24% of Granite Point Mortgage Trust worth $1,565,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GPMT. Northern Trust Corp boosted 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 last quarter. Jane Street Group LLC boosted its stake in shares of Granite Point Mortgage Trust by 120.4% during the fourth quarter. Jane Street Group LLC now owns 243,265 shares of the company’s stock valued at $679,000 after acquiring an additional 132,903 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Granite Point Mortgage Trust by 111.1% during the fourth quarter. Bank of America Corp DE now owns 64,806 shares of the company’s stock valued at $181,000 after acquiring an additional 34,103 shares during the last quarter. Graham Capital Management L.P. boosted its stake in shares of Granite Point Mortgage Trust by 13.9% during the fourth quarter. Graham Capital Management L.P. now owns 32,850 shares of the company’s stock valued at $92,000 after acquiring an additional 4,015 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Granite Point Mortgage Trust by 112.5% during the fourth quarter. Millennium Management LLC now owns 28,222 shares of the company’s stock valued at $79,000 after acquiring an additional 14,941 shares during the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

Granite Point Mortgage Trust Stock Performance

Shares of NYSE:GPMT opened at $2.96 on Wednesday. The company has a market cap of $140.30 million, a P/E ratio of -1.40 and a beta of 1.83. Granite Point Mortgage Trust Inc. has a one year low of $1.61 and a one year high of $3.66. The business’s 50-day simple moving average is $2.74 and its 200 day simple moving average is $2.50.

Insider Activity at Granite Point Mortgage Trust

In related 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 acquired at an average cost of $19.61 per share, for a total transaction of $58,830.00. Following the acquisition, the director owned 4,193 shares in the company, valued at $82,224.73. This represents a 251.47% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GPMT. Wall Street Zen raised Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. UBS Group raised their price target on 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. Finally, Keefe, Bruyette & Woods raised their price target on Granite Point Mortgage Trust from $2.25 to $2.75 and gave the stock a “market perform” rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Granite Point Mortgage Trust presently has an average rating of “Hold” and a consensus price target of $3.13.

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.