John A. Taylor Buys 4,000 Shares of Granite Point Mortgage Trust Inc (GPMT) Stock

Granite Point Mortgage Trust Inc (NYSE:GPMT) insider John A. Taylor purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were purchased at an average price of $18.15 per share, for a total transaction of $72,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of GPMT stock traded up $0.27 during midday trading on Tuesday, hitting $18.94. The company had a trading volume of 610,779 shares, compared to its average volume of 376,412. Granite Point Mortgage Trust Inc has a 52-week low of $16.15 and a 52-week high of $19.33. The company has a market capitalization of $809.16 million, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15. The company has a current ratio of 35.46, a quick ratio of 35.46 and a debt-to-equity ratio of 0.96.

Granite Point Mortgage Trust (NYSE:GPMT) last announced its earnings results on Monday, November 5th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Granite Point Mortgage Trust had a return on equity of 6.87% and a net margin of 36.50%. The company had revenue of $24.20 million for the quarter, compared to the consensus estimate of $23.70 million. As a group, equities analysts predict that Granite Point Mortgage Trust Inc will post 1.53 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Tuesday, October 2nd were paid a $0.42 dividend. This is an increase from Granite Point Mortgage Trust’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 8.87%. The ex-dividend date was Monday, October 1st.

Several hedge funds have recently made changes to their positions in GPMT. UBS Group AG boosted its stake in shares of Granite Point Mortgage Trust by 68.6% in the first quarter. UBS Group AG now owns 83,270 shares of the company’s stock valued at $1,377,000 after buying an additional 33,867 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Granite Point Mortgage Trust in the first quarter valued at approximately $653,000. KAMES CAPITAL plc boosted its stake in shares of Granite Point Mortgage Trust by 87.0% in the second quarter. KAMES CAPITAL plc now owns 680,395 shares of the company’s stock valued at $12,472,000 after buying an additional 316,615 shares in the last quarter. Atria Investments LLC purchased a new stake in shares of Granite Point Mortgage Trust in the second quarter valued at approximately $203,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Granite Point Mortgage Trust in the second quarter valued at approximately $867,000. Institutional investors own 64.81% of the company’s stock.

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods downgraded Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, July 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, October 17th. JPMorgan Chase & Co. lifted their target price on Granite Point Mortgage Trust from $19.00 to $19.50 and gave the company an “overweight” rating in a research note on Wednesday, October 24th. BTIG Research started coverage on Granite Point Mortgage Trust in a research note on Monday, October 8th. They issued a “neutral” rating on the stock. Finally, Compass Point reiterated a “buy” rating and issued a $20.00 target price on shares of Granite Point Mortgage Trust in a research note on Tuesday, August 7th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Granite Point Mortgage Trust currently has an average rating of “Buy” and a consensus target price of $19.75.

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About Granite Point Mortgage Trust

Granite Point Mortgage Trust Inc 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. As of December 31, 2017, its investment portfolio includes 61 commercial real estate debt investments.

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