Hope Woodhouse Sells 14,674 Shares of Granite Point Mortgage Trust (NYSE:GPMT) Stock

Granite Point Mortgage Trust Inc. (NYSE:GPMT) Director Hope Woodhouse sold 14,674 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $2.70, for a total transaction of $39,619.80. Following the completion of the transaction, the director owned 94,423 shares in the company, valued at $254,942.10. This trade represents a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Granite Point Mortgage Trust Stock Down 1.4%

Shares of Granite Point Mortgage Trust stock opened at $2.73 on Friday. The stock has a market capitalization of $129.43 million, a price-to-earnings ratio of -1.90 and a beta of 1.90. Granite Point Mortgage Trust Inc. has a twelve month low of $1.61 and a twelve month high of $3.66. The company has a 50-day simple moving average of $2.84 and a two-hundred day simple moving average of $2.64.

Granite Point Mortgage Trust (NYSE:GPMT) last announced its earnings results 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 39.73% and a negative return on equity of 30.39%. The firm had revenue of $27.77 million for the quarter. On average, sell-side analysts anticipate that Granite Point Mortgage Trust Inc. will post -2.75 earnings per share for the current fiscal year.

Granite Point Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Wednesday, October 1st. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is -13.89%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GPMT. UBS Group upped their target price on Granite Point Mortgage Trust from $3.25 to $3.50 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Keefe, Bruyette & Woods dropped their price target on Granite Point Mortgage Trust from $3.00 to $2.75 and set a “market perform” rating for the company in a research note on Tuesday. Wall Street Zen raised shares of Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a report on Wednesday, October 8th. Finally, Compass Point set a $3.00 target price on shares of Granite Point Mortgage Trust in a research report on Thursday, October 9th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Granite Point Mortgage Trust currently has a consensus rating of “Hold” and a consensus price target of $3.08.

Institutional Trading of Granite Point Mortgage Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its position in Granite Point Mortgage Trust by 229.4% in the first quarter. Nisa Investment Advisors LLC now owns 53,327 shares of the company’s stock valued at $139,000 after acquiring an additional 37,137 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Granite Point Mortgage Trust in the first quarter worth about $41,000. CWM LLC boosted its stake in shares of Granite Point Mortgage Trust by 368.2% in the 1st quarter. CWM LLC now owns 15,047 shares of the company’s stock valued at $39,000 after purchasing an additional 11,833 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Granite Point Mortgage Trust in the 1st quarter valued at approximately $130,000. Finally, Nuveen LLC bought a new stake in shares of Granite Point Mortgage Trust during the 1st quarter valued at approximately $403,000. 51.63% of the stock is currently owned by institutional investors.

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.