Granite Point Mortgage Trust Inc. (NYSE:GPMT) Shares Bought by Quadrature Capital Ltd

Quadrature Capital Ltd grew its position in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 106.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,757 shares of the company’s stock after acquiring an additional 12,772 shares during the quarter. Quadrature Capital Ltd’s holdings in Granite Point Mortgage Trust were worth $147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GPMT. Gladius Capital Management LP acquired a new stake in Granite Point Mortgage Trust during the fourth quarter worth about $44,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Granite Point Mortgage Trust in the third quarter worth about $55,000. Tower Research Capital LLC TRC boosted its position in shares of Granite Point Mortgage Trust by 676.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,758 shares of the company’s stock worth $64,000 after buying an additional 9,372 shares during the period. Oak Thistle LLC purchased a new stake in shares of Granite Point Mortgage Trust in the fourth quarter worth about $67,000. Finally, Dorsey & Whitney Trust CO LLC boosted its position in shares of Granite Point Mortgage Trust by 33.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 20,000 shares of the company’s stock worth $119,000 after buying an additional 5,000 shares during the period. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPMT has been the subject of several analyst reports. UBS Group decreased their target price on Granite Point Mortgage Trust from $6.50 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods reduced their price target on Granite Point Mortgage Trust from $5.00 to $4.75 and set an “underperform” rating for the company in a report on Wednesday, April 10th.

Insider Transactions at Granite Point Mortgage Trust

In other news, Director Stephen G. Kasnet sold 27,027 shares of Granite Point Mortgage Trust stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $3.08, for a total value of $83,243.16. Following the completion of the transaction, the director now owns 121,066 shares in the company, valued at approximately $372,883.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Granite Point Mortgage Trust Price Performance

NYSE:GPMT opened at $2.86 on Friday. The company has a market cap of $145.69 million, a PE ratio of -1.24 and a beta of 1.78. The business’s 50 day moving average is $3.49 and its two-hundred day moving average is $4.61. Granite Point Mortgage Trust Inc. has a 52 week low of $2.77 and a 52 week high of $6.41.

Granite Point Mortgage Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a $0.05 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.20 annualized dividend and a dividend yield of 7.01%. Granite Point Mortgage Trust’s payout ratio is -25.97%.

About Granite Point Mortgage Trust

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.