Granite Point Mortgage Trust Inc. $GPMT Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 1,460.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,062 shares of the company’s stock after acquiring an additional 12,225 shares during the quarter. Farther Finance Advisors LLC’s holdings in Granite Point Mortgage Trust were worth $32,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of GPMT. Cura Wealth Advisors LLC raised its stake in shares of Granite Point Mortgage Trust by 16.8% in the first quarter. Cura Wealth Advisors LLC now owns 1,465,929 shares of the company’s stock worth $3,811,000 after purchasing an additional 210,408 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Granite Point Mortgage Trust in the first quarter worth about $443,000. Nuveen LLC purchased a new position in shares of Granite Point Mortgage Trust in the first quarter worth about $403,000. AQR Capital Management LLC raised its stake in shares of Granite Point Mortgage Trust by 473.4% in the first quarter. AQR Capital Management LLC now owns 156,518 shares of the company’s stock worth $407,000 after purchasing an additional 129,222 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Granite Point Mortgage Trust by 9.4% in the first quarter. Acadian Asset Management LLC now owns 602,372 shares of the company’s stock worth $1,565,000 after purchasing an additional 51,780 shares during the last quarter. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

Granite Point Mortgage Trust Trading Down 3.0%

Shares of GPMT opened at $2.74 on Wednesday. Granite Point Mortgage Trust Inc. has a 12 month low of $1.61 and a 12 month high of $3.66. The stock’s 50 day moving average is $2.87 and its two-hundred day moving average is $2.52. The firm has a market cap of $129.64 million, a P/E ratio of -1.29 and a beta of 1.89.

Granite Point Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.3%. Granite Point Mortgage Trust’s payout ratio is currently -9.43%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GPMT shares. UBS Group raised their price objective 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. Wall Street Zen upgraded Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a research note on Saturday, September 27th. Finally, Keefe, Bruyette & Woods lifted their price target on 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. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.13.

Insider Activity

In other news, Director Lazar Nikolic purchased 3,000 shares of the stock in a transaction dated 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 directly owned 4,193 shares of the company’s stock, valued at approximately $82,224.73. The trade was a 251.47% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.10% of the stock is owned by corporate insiders.

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.