Raymond James Financial Inc. Invests $634,000 in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Raymond James Financial Inc. acquired a new stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 227,226 shares of the company's stock, valued at approximately $634,000. Raymond James Financial Inc. owned approximately 0.45% of Granite Point Mortgage Trust at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Wolverine Asset Management LLC raised its stake in Granite Point Mortgage Trust by 209.2% during the 4th quarter. Wolverine Asset Management LLC now owns 493,848 shares of the company's stock worth $1,378,000 after buying an additional 334,109 shares during the period. JPMorgan Chase & Co. boosted its position in Granite Point Mortgage Trust by 121.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company's stock worth $892,000 after acquiring an additional 154,202 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Granite Point Mortgage Trust in the fourth quarter worth $43,000. Geode Capital Management LLC grew its position in Granite Point Mortgage Trust by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,200,175 shares of the company's stock valued at $3,349,000 after purchasing an additional 22,335 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Granite Point Mortgage Trust by 28.3% in the 3rd quarter. Jane Street Group LLC now owns 110,362 shares of the company's stock valued at $350,000 after acquiring an additional 24,313 shares in the last quarter. 51.63% of the stock is owned by institutional investors.

Granite Point Mortgage Trust Stock Down 2.3 %

Shares of NYSE:GPMT traded down $0.05 during trading on Friday, hitting $2.13. 345,875 shares of the company were exchanged, compared to its average volume of 425,431. The company has a market capitalization of $103.10 million, a P/E ratio of -0.49 and a beta of 1.66. Granite Point Mortgage Trust Inc. has a 1-year low of $1.61 and a 1-year high of $3.69. The business's 50 day moving average is $2.27 and its 200-day moving average is $2.78.

Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($1.99) earnings per share for the quarter, missing analysts' consensus estimates of ($0.73) by ($1.26). Granite Point Mortgage Trust had a negative net margin of 111.59% and a negative return on equity of 14.08%. The company had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.90 million. As a group, sell-side analysts anticipate that Granite Point Mortgage Trust Inc. will post -2.75 earnings per share for the current year.

Granite Point Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 9.39%. The ex-dividend date of this dividend was Tuesday, April 1st. Granite Point Mortgage Trust's dividend payout ratio is currently -6.49%.

Insider Transactions at Granite Point Mortgage Trust

In other Granite Point Mortgage Trust news, Director Patrick Gregory Halter purchased 34,001 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were purchased at an average cost of $2.80 per share, with a total value of $95,202.80. Following the completion of the purchase, the director now owns 34,001 shares in the company, valued at $95,202.80. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 34,770 shares of company stock worth $108,849 over the last three months. 2.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on GPMT. JMP Securities reiterated a "market perform" rating on shares of Granite Point Mortgage Trust in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods lowered their price target on shares of Granite Point Mortgage Trust from $2.50 to $2.25 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. Finally, UBS Group cut their target price on Granite Point Mortgage Trust from $3.50 to $2.50 and set a "buy" rating for the company in a research report on Wednesday, April 16th.

Granite Point Mortgage Trust Company 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.