Granite Point Mortgage Trust Inc. (NYSE:GPMT) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lessened its holdings in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) by 23.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 433,991 shares of the company's stock after selling 134,940 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.87% of Granite Point Mortgage Trust worth $1,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GPMT. Wolverine Asset Management LLC raised its position in shares of 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 valued at $1,378,000 after buying an additional 334,109 shares during the period. JPMorgan Chase & Co. increased its stake in Granite Point Mortgage Trust by 121.4% during the third 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 purchased a new stake in Granite Point Mortgage Trust in the fourth quarter valued at $43,000. Raymond James Financial Inc. purchased a new stake in Granite Point Mortgage Trust in the fourth quarter valued at $634,000. Finally, Geode Capital Management LLC lifted its stake in shares of Granite Point Mortgage Trust by 1.9% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 51.63% of the company's stock.

Insider Buying and Selling

In related news, Director Lazar Nikolic bought 47,832 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average cost of $2.50 per share, with a total value of $119,580.00. Following the completion of the transaction, the director now owns 648,594 shares of the company's stock, valued at approximately $1,621,485. The trade was a 7.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patrick Gregory Halter bought 34,001 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were acquired at an average cost of $2.80 per share, for a total transaction of $95,202.80. Following the completion of the transaction, the director now owns 34,001 shares of the company's stock, valued at approximately $95,202.80. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 90,723 shares of company stock worth $247,047. 2.30% of the stock is owned by corporate insiders.

Granite Point Mortgage Trust Trading Up 1.7%

GPMT stock opened at $2.37 on Friday. The company's 50-day moving average price is $2.19 and its 200 day moving average price is $2.74. Granite Point Mortgage Trust Inc. has a 52 week low of $1.61 and a 52 week high of $3.66. The company has a market cap of $114.67 million, a P/E ratio of -0.54 and a beta of 1.66.

Granite Point Mortgage Trust Announces Dividend

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

Analysts Set New Price Targets

GPMT has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price target on shares of 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. JMP Securities reiterated a "market perform" rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th. Finally, UBS Group boosted 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.

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.

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