Charles Schwab Investment Management Inc. lowered its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) by 28.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 574,218 shares of the company's stock after selling 225,408 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.15% of Granite Point Mortgage Trust worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in Granite Point Mortgage Trust in the third quarter worth $46,000. FMR LLC grew its position in shares of Granite Point Mortgage Trust by 237.2% in the 3rd quarter. FMR LLC now owns 8,296 shares of the company's stock worth $26,000 after buying an additional 5,836 shares during the period. Jane Street Group LLC increased its stake in shares of Granite Point Mortgage Trust by 28.3% in the 3rd quarter. Jane Street Group LLC now owns 110,362 shares of the company's stock worth $350,000 after acquiring an additional 24,313 shares in the last quarter. Barclays PLC increased its stake in shares of Granite Point Mortgage Trust by 64.4% in the 3rd quarter. Barclays PLC now owns 115,750 shares of the company's stock worth $367,000 after acquiring an additional 45,323 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in Granite Point Mortgage Trust during the 3rd quarter valued at about $61,000. 51.63% of the stock is owned by institutional investors.
Granite Point Mortgage Trust Stock Up 1.2 %
Shares of NYSE GPMT traded up $0.03 during midday trading on Wednesday, hitting $2.54. The stock had a trading volume of 184,722 shares, compared to its average volume of 410,597. The business's 50 day moving average is $2.84 and its 200-day moving average is $3.00. Granite Point Mortgage Trust Inc. has a 52 week low of $2.46 and a 52 week high of $4.60. The company has a market cap of $124.08 million, a P/E ratio of -0.58 and a beta of 1.46.
Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported ($1.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($1.26). Granite Point Mortgage Trust had a negative net margin of 111.59% and a negative return on equity of 14.08%. The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.90 million. As a group, analysts expect that Granite Point Mortgage Trust Inc. will post -2.75 EPS for the current fiscal year.
Granite Point Mortgage Trust Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 7.87%. The ex-dividend date is Tuesday, April 1st. Granite Point Mortgage Trust's dividend payout ratio (DPR) is -4.56%.
Insider Buying and Selling at Granite Point Mortgage Trust
In related news, Director Patrick Gregory Halter bought 34,001 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was acquired at an average cost of $2.80 per share, for a total transaction of $95,202.80. Following the purchase, the director now owns 34,001 shares in the company, valued at approximately $95,202.80. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have purchased 34,770 shares of company stock worth $108,849. Company insiders own 2.30% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on GPMT. UBS Group decreased their target price on shares of Granite Point Mortgage Trust from $3.75 to $3.50 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods raised Granite Point Mortgage Trust from an "underperform" rating to a "market perform" rating and raised their price objective for the company from $3.00 to $3.25 in a research report on Tuesday, December 10th. Finally, JMP Securities reissued a "market perform" rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th.
Get Our Latest Research Report on GPMT
Granite Point Mortgage Trust Company Profile
(
Free Report)
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.
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