Rhumbline Advisers trimmed its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 11.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,729 shares of the company’s stock after selling 24,428 shares during the quarter. Rhumbline Advisers’ holdings in Granite Point Mortgage Trust were worth $2,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of GPMT. Victory Capital Management Inc. grew its holdings in Granite Point Mortgage Trust by 12.7% during the first quarter. Victory Capital Management Inc. now owns 65,558 shares of the company’s stock valued at $785,000 after purchasing an additional 7,381 shares during the period. Ameriprise Financial Inc. grew its stake in Granite Point Mortgage Trust by 2.7% in the first quarter. Ameriprise Financial Inc. now owns 307,030 shares of the company’s stock worth $3,683,000 after purchasing an additional 7,992 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Granite Point Mortgage Trust during the first quarter worth $126,000. Amundi Asset Management US Inc. purchased a new stake in shares of Granite Point Mortgage Trust during the 1st quarter valued at $5,914,000. Finally, Hillsdale Investment Management Inc. purchased a new position in Granite Point Mortgage Trust in the 2nd quarter worth $28,000. Hedge funds and other institutional investors own 62.33% of the company’s stock.
Separately, Zacks Investment Research cut Granite Point Mortgage Trust from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.60.
Granite Point Mortgage Trust (NYSE:GPMT) last released its quarterly earnings results on Monday, August 9th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). Granite Point Mortgage Trust had a net margin of 19.21% and a return on equity of 6.87%. On average, equities research analysts predict that Granite Point Mortgage Trust Inc. will post 1.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 19th. Shareholders of record on Friday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.52%. The ex-dividend date of this dividend is Thursday, September 30th. Granite Point Mortgage Trust’s dividend payout ratio is currently 91.74%.
In other news, CIO Stephen Alpart acquired 3,900 shares of the business’s stock in a transaction that occurred on Thursday, August 19th. The shares were purchased at an average cost of $12.97 per share, for a total transaction of $50,583.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Steven Plust purchased 8,000 shares of the company’s stock in a transaction on Thursday, August 12th. The shares were bought at an average price of $12.94 per share, for a total transaction of $103,520.00. Following the completion of the transaction, the chief operating officer now directly owns 57,969 shares in the company, valued at approximately $750,118.86. The disclosure for this purchase can be found here. In the last three months, insiders bought 27,562 shares of company stock worth $362,395. Insiders own 2.00% of the company’s stock.
About Granite Point Mortgage Trust
Granite Point Mortgage Trust, Inc operates as a real estate investment trust, which focuses on originating, investing in, and managing senior floating-rate commercial mortgage loans, other debt and debt-like commercial real estate investments. The company was founded on April 7, 2017 and is headquartered in New York, NY.
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