Granite Point Mortgage Trust Inc. (NYSE:GPMT) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its position in Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) by 85.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,700 shares of the company's stock after selling 180,570 shares during the period. Cresset Asset Management LLC owned approximately 0.06% of Granite Point Mortgage Trust worth $86,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of GPMT. MetLife Investment Management LLC lifted its holdings 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 valued at $35,000 after acquiring an additional 6,487 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Granite Point Mortgage Trust by 190.5% in the fourth 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. Virtu Financial LLC acquired a new position in Granite Point Mortgage Trust in the fourth quarter valued at approximately $43,000. Intech Investment Management LLC lifted its holdings in Granite Point Mortgage Trust by 54.9% in the fourth quarter. Intech Investment Management LLC now owns 22,432 shares of the company's stock valued at $63,000 after acquiring an additional 7,952 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Granite Point Mortgage Trust by 33.1% in the fourth quarter. SG Americas Securities LLC now owns 27,647 shares of the company's stock valued at $77,000 after acquiring an additional 6,878 shares during the period. 51.63% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Granite Point Mortgage Trust

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

Granite Point Mortgage Trust Stock Up 1.7%

Shares of GPMT stock traded up $0.04 during trading hours on Thursday, hitting $2.37. 617,179 shares of the company's stock were exchanged, compared to its average volume of 422,403. The firm has a market cap of $114.67 million, a P/E ratio of -0.54 and a beta of 1.66. The firm has a 50 day moving average of $2.20 and a two-hundred day moving average of $2.75. Granite Point Mortgage Trust Inc. has a fifty-two week low of $1.61 and a fifty-two week high of $3.66.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 8.44%. The ex-dividend date was Tuesday, April 1st. Granite Point Mortgage Trust's payout ratio is -6.49%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods decreased their price target on Granite Point Mortgage Trust from $2.50 to $2.25 and set a "market perform" rating for the company in a report on Wednesday, April 30th. UBS Group upped their target price on Granite Point Mortgage Trust from $2.50 to $3.25 and gave the stock a "buy" rating in a research note on Wednesday. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Granite Point Mortgage Trust in a research note on Tuesday, February 18th.

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.