Granite Point Mortgage Trust (NYSE:GPMT) Director Hope Woodhouse Sells 14,674 Shares of Stock

Granite Point Mortgage Trust Inc. (NYSE:GPMT) Director Hope Woodhouse sold 14,674 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $2.70, for a total value of $39,619.80. Following the sale, the director owned 94,423 shares in the company, valued at $254,942.10. The trade was a 13.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Granite Point Mortgage Trust Stock Performance

GPMT traded down $0.02 during midday trading on Thursday, hitting $2.76. The company had a trading volume of 16,004 shares, compared to its average volume of 390,608. The company has a market capitalization of $130.61 million, a PE ratio of -1.91 and a beta of 1.90. The firm’s 50-day simple moving average is $2.85 and its 200-day simple moving average is $2.63. Granite Point Mortgage Trust Inc. has a twelve month low of $1.61 and a twelve month high of $3.66.

Granite Point Mortgage Trust (NYSE:GPMT) last released its earnings results on Wednesday, May 25th. The company reported $0.38 earnings per share for the quarter. The company had revenue of $27.77 million during the quarter. Granite Point Mortgage Trust had a negative return on equity of 30.39% and a negative net margin of 39.73%. As a group, sell-side analysts anticipate that Granite Point Mortgage Trust Inc. will post -2.75 EPS for the current fiscal year.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend was Wednesday, October 1st. Granite Point Mortgage Trust’s payout ratio is -13.89%.

Institutional Investors Weigh In On Granite Point Mortgage Trust

Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in shares of Granite Point Mortgage Trust by 1,460.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 13,062 shares of the company’s stock valued at $32,000 after purchasing an additional 12,225 shares during the last quarter. Nuveen LLC bought a new position in shares of Granite Point Mortgage Trust in the first quarter worth about $403,000. Nisa Investment Advisors LLC increased its holdings in shares of Granite Point Mortgage Trust by 229.4% during the first quarter. Nisa Investment Advisors LLC now owns 53,327 shares of the company’s stock worth $139,000 after buying an additional 37,137 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of Granite Point Mortgage Trust during the first quarter worth about $41,000. Finally, Cura Wealth Advisors LLC raised its holdings in Granite Point Mortgage Trust by 16.8% in the 1st quarter. Cura Wealth Advisors LLC now owns 1,465,929 shares of the company’s stock valued at $3,811,000 after buying an additional 210,408 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GPMT has been the subject of several recent research reports. Compass Point set a $3.00 target price on shares of Granite Point Mortgage Trust in a research report on Thursday, October 9th. Keefe, Bruyette & Woods lowered their target price on Granite Point Mortgage Trust from $3.00 to $2.75 and set a “market perform” rating for the company in a report on Tuesday. Wall Street Zen upgraded shares of Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. UBS Group upped their target price on Granite Point Mortgage Trust from $3.25 to $3.50 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.08.

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.