11,141 Shares in Granite Point Mortgage Trust Inc. $GPMT Purchased by May Hill Capital LLC

May Hill Capital LLC purchased a new position in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,141 shares of the company’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GPMT. Cura Wealth Advisors LLC boosted its holdings in Granite Point Mortgage Trust by 16.8% during 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 Granite Point Mortgage Trust during the first quarter worth about $443,000. Nuveen LLC purchased a new position in Granite Point Mortgage Trust during the first quarter worth about $403,000. AQR Capital Management LLC boosted its holdings in Granite Point Mortgage Trust by 473.4% during 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, Y Intercept Hong Kong Ltd purchased a new position in Granite Point Mortgage Trust during the second quarter worth about $227,000. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

Granite Point Mortgage Trust Stock Down 3.4%

NYSE GPMT opened at $2.74 on Wednesday. The company’s 50 day moving average is $2.87 and its 200-day moving average is $2.56. Granite Point Mortgage Trust Inc. has a 12-month low of $1.61 and a 12-month high of $3.66. 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 (NYSE:GPMT) last posted its quarterly earnings results on Wednesday, May 25th. The company reported $0.38 earnings per share (EPS) for the quarter. Granite Point Mortgage Trust had a negative net margin of 59.38% and a negative return on equity of 26.91%. The company had revenue of $27.77 million for the quarter. Equities analysts expect that Granite Point Mortgage Trust Inc. will post -2.75 EPS for the current year.

Granite Point Mortgage Trust Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on GPMT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a report on Wednesday, October 8th. Wall Street Zen cut shares of Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Compass Point set a $3.00 target price on shares of Granite Point Mortgage Trust in a research note on Thursday, October 9th. UBS Group boosted their target price on shares of Granite Point Mortgage Trust from $3.25 to $3.50 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Granite Point Mortgage Trust from $2.25 to $2.75 and gave the company a “market perform” rating in a research note on Thursday, July 10th. One 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.08.

Insider Activity

In other Granite Point Mortgage Trust news, Director Lazar Nikolic purchased 3,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were bought at an average price of $19.61 per share, with a total value of $58,830.00. Following the completion of the transaction, the director directly owned 4,193 shares in the company, valued at approximately $82,224.73. This trade represents a 251.47% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by company insiders.

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.