ICM Asset Management Inc. WA acquired a new position in Granite Point Mortgage Trust Inc (NYSE:GPMT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 14,622 shares of the company’s stock, valued at approximately $259,000.
Other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC bought a new position in shares of Granite Point Mortgage Trust in the fourth quarter worth about $139,000. Public Employees Retirement Association of Colorado acquired a new stake in Granite Point Mortgage Trust during the fourth quarter worth about $147,000. Landscape Capital Management L.L.C. acquired a new stake in Granite Point Mortgage Trust during the fourth quarter worth about $199,000. Sei Investments Co. acquired a new stake in Granite Point Mortgage Trust during the third quarter worth about $225,000. Finally, Strs Ohio grew its position in Granite Point Mortgage Trust by 324.1% during the fourth quarter. Strs Ohio now owns 12,300 shares of the company’s stock worth $218,000 after buying an additional 9,400 shares in the last quarter. Institutional investors and hedge funds own 66.87% of the company’s stock.
A number of research firms recently weighed in on GPMT. Zacks Investment Research raised Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Friday, March 2nd. Keefe, Bruyette & Woods raised Granite Point Mortgage Trust from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $19.58.
Shares of Granite Point Mortgage Trust Inc (NYSE:GPMT) opened at $17.15 on Tuesday. Granite Point Mortgage Trust Inc has a 1 year low of $16.15 and a 1 year high of $19.30.
Granite Point Mortgage Trust (NYSE:GPMT) last released its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $37.06 million during the quarter, compared to analyst estimates of $22.27 million. equities research analysts anticipate that Granite Point Mortgage Trust Inc will post 1.68 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Thursday, March 29th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.86%. The ex-dividend date of this dividend is Wednesday, March 28th.
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.
Receive News & Ratings for Granite Point Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Point Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.