Jane Street Group LLC Purchases 132,903 Shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Jane Street Group LLC raised its holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) by 120.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 243,265 shares of the company's stock after buying an additional 132,903 shares during the quarter. Jane Street Group LLC owned about 0.49% of Granite Point Mortgage Trust worth $679,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Granite Point Mortgage Trust by 121.4% in the third quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company's stock valued at $892,000 after purchasing an additional 154,202 shares during the period. SG Americas Securities LLC grew its stake in shares of 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 buying an additional 6,878 shares in the last quarter. Wolverine Asset Management LLC increased its holdings 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 purchasing an additional 334,109 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Granite Point Mortgage Trust during the 4th quarter worth about $634,000. Finally, Corient Private Wealth LLC boosted its position in shares of Granite Point Mortgage Trust by 10.5% during the 4th quarter. Corient Private Wealth LLC now owns 47,666 shares of the company's stock worth $133,000 after acquiring an additional 4,511 shares in the last quarter. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Lazar Nikolic acquired 47,832 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was bought at an average price of $2.50 per share, with a total value of $119,580.00. Following the acquisition, the director now owns 648,594 shares in the company, valued at $1,621,485. This represents a 7.96% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 56,453 shares of company stock worth $147,077 in the last 90 days. Corporate insiders own 2.30% of the company's stock.

Granite Point Mortgage Trust Trading Up 3.9%

NYSE GPMT traded up $0.10 during trading on Thursday, reaching $2.54. The company's stock had a trading volume of 161,278 shares, compared to its average volume of 419,387. Granite Point Mortgage Trust Inc. has a 1-year low of $1.61 and a 1-year high of $3.66. The stock has a market capitalization of $122.71 million, a PE ratio of -0.58 and a beta of 1.66. The business has a 50-day moving average price of $2.16 and a 200-day moving average price of $2.72.

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 paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.20 annualized dividend and a dividend yield of 7.89%. Granite Point Mortgage Trust's dividend payout ratio is presently -6.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GPMT. Keefe, Bruyette & Woods dropped 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 note on Wednesday, April 30th. UBS Group reissued a "buy" rating and issued a $3.25 price objective (up previously from $2.50) on shares of Granite Point Mortgage Trust in a research report on Wednesday, May 21st. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th.

Granite Point Mortgage Trust 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.