Belpointe Asset Management LLC purchased a new position in Granite Point Mortgage Trust Inc (NYSE:GPMT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 17,520 shares of the company’s stock, valued at approximately $311,000.
Several other institutional investors and hedge funds also recently modified their holdings of GPMT. Nisa Investment Advisors LLC bought a new position in Granite Point Mortgage Trust in the 4th quarter valued at approximately $139,000. Public Employees Retirement Association of Colorado bought a new position in Granite Point Mortgage Trust in the 4th quarter valued at approximately $147,000. Landscape Capital Management L.L.C. bought a new position in Granite Point Mortgage Trust in the 4th quarter valued at approximately $199,000. Strs Ohio lifted its position in Granite Point Mortgage Trust by 324.1% in the 4th quarter. Strs Ohio now owns 12,300 shares of the company’s stock valued at $218,000 after acquiring an additional 9,400 shares in the last quarter. Finally, Sei Investments Co. bought a new position in Granite Point Mortgage Trust in the 3rd quarter valued at approximately $225,000. 66.87% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on GPMT shares. Zacks Investment Research cut Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 25th. Keefe, Bruyette & Woods raised Granite Point Mortgage Trust from a “market perform” rating to an “outperform” rating in a report on Thursday, December 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.58.
Granite Point Mortgage Trust stock opened at $17.09 on Monday. Granite Point Mortgage Trust Inc has a twelve month low of $16.15 and a twelve month high of $19.30.
Granite Point Mortgage Trust (NYSE:GPMT) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $37.06 million during the quarter, compared to analysts’ expectations of $22.27 million. analysts expect that Granite Point Mortgage Trust Inc will post 1.68 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.52 annualized dividend and a dividend yield of 8.89%.
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Granite Point Mortgage Trust Profile
Granite Point Mortgage Trust Inc is focused primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt, such as commercial real estate investments. The Company formed to continue and expand the commercial real estate lending business. The Company is a long-term, fundamental value-oriented investor.
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