KAMES CAPITAL plc acquired a new stake in Granite Point Mortgage Trust Inc (NYSE:GPMT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 169,619 shares of the company’s stock, valued at approximately $3,009,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in GPMT. Wilbanks Smith & Thomas Asset Management LLC bought a new position in shares of Granite Point Mortgage Trust during the second quarter worth approximately $218,000. IndexIQ Advisors LLC bought a new position in shares of Granite Point Mortgage Trust during the third quarter worth approximately $220,000. Sei Investments Co. bought a new position in shares of Granite Point Mortgage Trust during the third quarter worth approximately $225,000. California State Teachers Retirement System bought a new position in shares of Granite Point Mortgage Trust during the third quarter worth approximately $307,000. Finally, Wells Fargo & Company MN bought a new position in shares of Granite Point Mortgage Trust during the second quarter worth approximately $393,000. 13.47% of the stock is owned by institutional investors.
In related news, Director Brian Taylor acquired 5,600 shares of the stock in a transaction on Thursday, November 16th. The shares were purchased at an average price of $17.87 per share, for a total transaction of $100,072.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Two Harbors Investment Corp. purchased 50,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was acquired at an average price of $18.56 per share, for a total transaction of $928,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 139,570 shares of company stock worth $2,547,527.
Granite Point Mortgage Trust Inc (NYSE:GPMT) opened at $17.52 on Friday. Granite Point Mortgage Trust Inc has a 52 week low of $17.02 and a 52 week high of $19.30.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a yield of 8.68%.
GPMT has been the topic of a number of recent research reports. Bank of America lowered their target price on Granite Point Mortgage Trust from $19.50 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 8th. Zacks Investment Research lowered Granite Point Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Compass Point initiated coverage on Granite Point Mortgage Trust in a research note on Friday, October 27th. They set a “buy” rating and a $19.50 target price on the stock. Finally, Keefe, Bruyette & Woods upgraded Granite Point Mortgage Trust from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Granite Point Mortgage Trust presently has a consensus rating of “Buy” and an average target price of $19.58.
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About Granite Point Mortgage Trust
Granite Point Mortgage Trust Inc is focused primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt, such as commercial real estate investments. The Company formed to continue and expand the commercial real estate lending business. The Company is a long-term, fundamental value-oriented investor.
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