Epiq Partners LLC Increases Holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Epiq Partners LLC increased its position in Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) by 128.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,241,150 shares of the company's stock after buying an additional 696,925 shares during the quarter. Granite Point Mortgage Trust comprises about 1.7% of Epiq Partners LLC's investment portfolio, making the stock its 19th biggest position. Epiq Partners LLC owned 2.54% of Granite Point Mortgage Trust worth $3,227,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GPMT. MetLife Investment Management LLC increased its holdings in shares of Granite Point Mortgage Trust by 104.8% in the 4th 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 acquired a new stake in shares of Granite Point Mortgage Trust during the fourth quarter worth $40,000. Tower Research Capital LLC TRC lifted its stake in Granite Point Mortgage Trust by 190.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,786 shares of the company's stock valued at $41,000 after buying an additional 9,697 shares in the last quarter. Virtu Financial LLC acquired a new position in Granite Point Mortgage Trust in the 4th quarter worth approximately $43,000. Finally, Intech Investment Management LLC raised its position in Granite Point Mortgage Trust by 54.9% during the fourth quarter. Intech Investment Management LLC now owns 22,432 shares of the company's stock valued at $63,000 after buying an additional 7,952 shares during the period. Hedge funds and other institutional investors own 51.63% of the company's stock.

Insider Activity

In other Granite Point Mortgage Trust news, Director Lazar Nikolic bought 47,832 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was purchased at an average price of $2.50 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now directly owns 648,594 shares of the company's stock, valued at $1,621,485. This trade represents a 7.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 55,953 shares of company stock valued at $138,197 over the last three months. Corporate insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GPMT. UBS Group restated a "buy" rating and issued a $3.25 target price (up from $2.50) on shares of Granite Point Mortgage Trust in a report on Wednesday, May 21st. JMP Securities reiterated a "market perform" rating on shares of Granite Point Mortgage Trust in a research report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods decreased their price objective on Granite Point Mortgage Trust from $2.50 to $2.25 and set a "market perform" rating for the company in a research report on Wednesday, April 30th.

Granite Point Mortgage Trust Stock Performance

Shares of Granite Point Mortgage Trust stock traded up $0.06 during midday trading on Tuesday, hitting $2.61. 464,064 shares of the company traded hands, compared to its average volume of 415,038. Granite Point Mortgage Trust Inc. has a 12 month low of $1.61 and a 12 month high of $3.66. The firm's fifty day moving average price is $2.15 and its 200-day moving average price is $2.67. The stock has a market cap of $126.10 million, a price-to-earnings ratio of -0.59 and a beta of 1.77.

Granite Point Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.05 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.20 annualized dividend and a dividend yield of 7.68%. Granite Point Mortgage Trust's dividend payout ratio is currently -6.49%.

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.