Quantum Portfolio Management LLC Purchases Shares of 45,917,258 Granite Point Mortgage Trust Inc. $GPMT

Quantum Portfolio Management LLC acquired a new position in Granite Point Mortgage Trust Inc. (NYSE:GPMT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,917,258 shares of the company’s stock, valued at approximately $66,580,000. Granite Point Mortgage Trust makes up 0.7% of Quantum Portfolio Management LLC’s portfolio, making the stock its 10th largest holding. Quantum Portfolio Management LLC owned approximately 0.96% of Granite Point Mortgage Trust as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GPMT. Advisory Services Network LLC acquired a new position in shares of Granite Point Mortgage Trust during the 3rd quarter valued at $26,000. LPL Financial LLC purchased a new stake in Granite Point Mortgage Trust during the 4th quarter worth $25,000. B. Riley Wealth Advisors Inc. acquired a new stake in Granite Point Mortgage Trust in the 2nd quarter valued at $28,000. Hudson Bay Capital Management LP purchased a new position in Granite Point Mortgage Trust in the second quarter valued at about $31,000. Finally, Jump Financial LLC purchased a new position in Granite Point Mortgage Trust in the second quarter valued at about $31,000. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Granite Point Mortgage Trust Trading Down 0.3%

Shares of GPMT stock opened at $1.44 on Thursday. The company has a market capitalization of $68.77 million, a PE ratio of -1.34 and a beta of 1.61. The firm has a fifty day simple moving average of $1.43 and a 200-day simple moving average of $1.73. Granite Point Mortgage Trust Inc. has a twelve month low of $1.24 and a twelve month high of $3.12.

Granite Point Mortgage Trust (NYSE:GPMT) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.13. Granite Point Mortgage Trust had a negative net margin of 29.82% and a negative return on equity of 11.31%. The firm had revenue of $11.22 million for the quarter, compared to the consensus estimate of $7.40 million. Equities research analysts predict that Granite Point Mortgage Trust Inc. will post -0.69 EPS for the current year.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.20 annualized dividend and a dividend yield of 13.9%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is currently -18.69%.

Analyst Ratings Changes

GPMT has been the topic of a number of recent research reports. Compass Point set a $1.50 price objective on Granite Point Mortgage Trust in a research note on Monday, May 11th. Wall Street Zen lowered Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Granite Point Mortgage Trust has an average rating of “Hold” and a consensus price target of $2.50.

Granite Point Mortgage Trust Company Profile

Granite Point Mortgage Trust, Inc is a specialty finance company that invests directly in commercial real estate debt. The company focuses on originating, acquiring and managing senior preferred and mezzanine loans secured by income-producing real estate across diverse property types, including multifamily, office, industrial and retail assets. Granite Point Mortgage Trust operates as a real estate investment trust (REIT), providing investors with exposure to floating-rate commercial mortgage loan investments.

Granite Point’s investment strategy centers on structuring loans to deliver attractive risk-adjusted returns, with portfolio allocations spanning senior loans, B-notes and mezzanine financings.