Oppenheimer & Co. Inc. Makes New $443,000 Investment in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Oppenheimer & Co. Inc. purchased a new position in Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 170,236 shares of the company's stock, valued at approximately $443,000. Oppenheimer & Co. Inc. owned 0.35% of Granite Point Mortgage Trust at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Granite Point Mortgage Trust during the 1st quarter worth $30,000. MetLife Investment Management LLC raised its position in Granite Point Mortgage Trust by 104.8% in the fourth quarter. MetLife Investment Management LLC now owns 12,676 shares of the company's stock worth $35,000 after acquiring an additional 6,487 shares during the period. ProShare Advisors LLC purchased a new position in Granite Point Mortgage Trust in the fourth quarter valued at about $40,000. Tower Research Capital LLC TRC grew its position in shares of Granite Point Mortgage Trust by 190.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,786 shares of the company's stock valued at $41,000 after acquiring an additional 9,697 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Granite Point Mortgage Trust during the 4th quarter worth approximately $43,000. 51.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GPMT shares. Wall Street Zen raised shares of Granite Point Mortgage Trust from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. UBS Group reaffirmed a "buy" rating and set a $3.25 target price (up previously from $2.50) on shares of Granite Point Mortgage Trust in a report on Wednesday, May 21st. Finally, 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 report on Wednesday, April 30th.

Insider Activity

In other news, Director Lazar Nikolic bought 47,832 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was bought at an average cost of $2.50 per share, for a total transaction of $119,580.00. Following the completion of the acquisition, the director owned 648,594 shares in the company, valued at approximately $1,621,485. This trade represents a 7.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have bought a total of 55,953 shares of company stock valued at $138,197 in the last 90 days. 3.10% of the stock is currently owned by insiders.

Granite Point Mortgage Trust Price Performance

Granite Point Mortgage Trust stock traded down $0.02 during trading hours on Friday, reaching $2.57. The company had a trading volume of 130,987 shares, compared to its average volume of 450,822. Granite Point Mortgage Trust Inc. has a 12-month low of $1.61 and a 12-month high of $3.66. The company has a 50-day moving average price of $2.37 and a 200 day moving average price of $2.57. The firm has a market cap of $124.41 million, a price-to-earnings ratio of -0.83 and a beta of 1.71.

Granite Point Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date is Tuesday, July 1st. Granite Point Mortgage Trust's dividend payout ratio (DPR) is presently -6.49%.

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.