Raymond James Financial Inc. Takes $634,000 Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Raymond James Financial Inc. purchased a new position in Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 227,226 shares of the company's stock, valued at approximately $634,000. Raymond James Financial Inc. owned 0.45% of Granite Point Mortgage Trust at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolverine Asset Management LLC boosted its stake in shares of Granite Point Mortgage Trust by 209.2% during the 4th quarter. Wolverine Asset Management LLC now owns 493,848 shares of the company's stock valued at $1,378,000 after purchasing an additional 334,109 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Granite Point Mortgage Trust by 121.4% in the third quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company's stock worth $892,000 after buying an additional 154,202 shares during the period. Barclays PLC boosted its position in Granite Point Mortgage Trust by 64.4% during the 3rd quarter. Barclays PLC now owns 115,750 shares of the company's stock valued at $367,000 after acquiring an additional 45,323 shares in the last quarter. Jane Street Group LLC boosted its position in Granite Point Mortgage Trust by 28.3% during the 3rd quarter. Jane Street Group LLC now owns 110,362 shares of the company's stock valued at $350,000 after acquiring an additional 24,313 shares in the last quarter. Finally, FMR LLC raised 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 acquiring an additional 5,836 shares in the last quarter. Institutional investors own 51.63% of the company's stock.

Wall Street Analysts Forecast Growth

GPMT has been the topic of several recent research reports. Keefe, Bruyette & Woods reduced their price target on Granite Point Mortgage Trust from $2.75 to $2.50 and set a "market perform" rating on the stock in a research note on Monday. JMP Securities restated a "market perform" rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th. Finally, UBS Group decreased their price target 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.

Granite Point Mortgage Trust Stock Performance

Shares of GPMT traded up $0.01 during mid-day trading on Friday, reaching $1.84. The company had a trading volume of 280,795 shares, compared to its average volume of 416,099. Granite Point Mortgage Trust Inc. has a 52 week low of $1.76 and a 52 week high of $4.54. The company has a market capitalization of $89.64 million, a price-to-earnings ratio of -0.42 and a beta of 1.46. The firm has a 50-day moving average price of $2.69 and a 200 day moving average price of $2.94.

Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($1.99) EPS for the quarter, missing analysts' consensus estimates of ($0.73) by ($1.26). The company had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.90 million. Granite Point Mortgage Trust had a negative return on equity of 14.08% and a negative net margin of 111.59%. As a group, research analysts forecast that Granite Point Mortgage Trust Inc. will post -2.75 earnings per share for the current fiscal year.

Granite Point Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.20 dividend on an annualized basis and a yield of 10.90%. Granite Point Mortgage Trust's dividend payout ratio is currently -4.56%.

Insiders Place Their Bets

In other Granite Point Mortgage Trust news, Director Patrick Gregory Halter bought 34,001 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were 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 trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders bought 34,770 shares of company stock valued at $108,849. Insiders own 2.30% of the company's stock.

Granite Point Mortgage Trust Company 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.