11,141 Shares in Granite Point Mortgage Trust Inc. $GPMT Acquired by May Hill Capital LLC

May Hill Capital LLC bought a new position in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,141 shares of the company’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Granite Point Mortgage Trust during the 2nd quarter worth approximately $227,000. Ground Swell Capital LLC bought a new stake in Granite Point Mortgage Trust during the 2nd quarter worth approximately $40,000. Confluence Wealth Services Inc. bought a new stake in Granite Point Mortgage Trust during the 2nd quarter worth approximately $29,000. Farther Finance Advisors LLC increased its holdings in Granite Point Mortgage Trust by 1,460.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 13,062 shares of the company’s stock worth $32,000 after acquiring an additional 12,225 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in Granite Point Mortgage Trust by 9.4% during the 1st quarter. Acadian Asset Management LLC now owns 602,372 shares of the company’s stock worth $1,565,000 after acquiring an additional 51,780 shares during the period. Institutional investors own 51.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on GPMT shares. Wall Street Zen lowered shares of Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Keefe, Bruyette & Woods increased their price target on shares of Granite Point Mortgage Trust from $2.25 to $2.75 and gave the stock a “market perform” rating in a report on Thursday, July 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a report on Wednesday, October 8th. Compass Point set a $3.00 price target on shares of Granite Point Mortgage Trust in a report on Thursday, October 9th. Finally, UBS Group increased their price target on shares of Granite Point Mortgage Trust from $3.25 to $3.50 and gave the stock a “buy” rating in a report on Wednesday, August 20th. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.08.

Granite Point Mortgage Trust Stock Performance

Shares of Granite Point Mortgage Trust stock opened at $2.74 on Wednesday. Granite Point Mortgage Trust Inc. has a 52-week low of $1.61 and a 52-week high of $3.66. The stock has a market capitalization of $129.64 million, a price-to-earnings ratio of -1.29 and a beta of 1.89. The company has a fifty day moving average of $2.87 and a 200-day moving average of $2.56.

Granite Point Mortgage Trust (NYSE:GPMT) last announced its quarterly earnings data on Wednesday, May 25th. The company reported $0.38 earnings per share (EPS) for the quarter. Granite Point Mortgage Trust had a negative net margin of 59.38% and a negative return on equity of 26.91%. The company had revenue of $27.77 million during the quarter. On average, equities research analysts forecast that Granite Point Mortgage Trust Inc. will post -2.75 earnings per share for the current fiscal year.

Granite Point Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.3%. Granite Point Mortgage Trust’s dividend payout ratio is -9.43%.

Insider Activity

In other Granite Point Mortgage Trust news, Director Lazar Nikolic acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $19.61 per share, with a total value of $58,830.00. Following the purchase, the director owned 4,193 shares of the company’s stock, valued at approximately $82,224.73. This trade represents a 251.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.10% of the company’s stock.

Granite Point Mortgage Trust 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.