Balyasny Asset Management L.P. Reduces Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Balyasny Asset Management L.P. lessened its holdings in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) by 39.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 498,437 shares of the company's stock after selling 323,737 shares during the quarter. Balyasny Asset Management L.P. owned 1.00% of Granite Point Mortgage Trust worth $1,391,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of America Corp DE increased its stake in Granite Point Mortgage Trust by 111.1% during the 4th quarter. Bank of America Corp DE now owns 64,806 shares of the company's stock valued at $181,000 after purchasing an additional 34,103 shares in the last quarter. Jane Street Group LLC increased its stake in Granite Point Mortgage Trust by 120.4% during the 4th quarter. Jane Street Group LLC now owns 243,265 shares of the company's stock valued at $679,000 after purchasing an additional 132,903 shares in the last quarter. Northern Trust Corp increased its stake in Granite Point Mortgage Trust by 13.8% during the 4th quarter. Northern Trust Corp now owns 526,465 shares of the company's stock valued at $1,469,000 after purchasing an additional 63,970 shares in the last quarter. Gratia Capital LLC bought a new stake in Granite Point Mortgage Trust during the 4th quarter valued at $1,953,000. Finally, Tower Research Capital LLC TRC increased its stake in 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 purchasing an additional 9,697 shares in the last quarter. Institutional investors own 51.63% of the company's stock.

Wall Street Analyst Weigh In

GPMT has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut their price objective 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. JMP Securities reaffirmed a "market perform" rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th. Finally, UBS Group cut their price objective on shares of Granite Point Mortgage Trust from $3.50 to $2.50 and set a "buy" rating on the stock in a report on Wednesday, April 16th.

Insider Buying and Selling

In other Granite Point Mortgage Trust news, Director Patrick Gregory Halter acquired 34,001 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were acquired at an average cost of $2.80 per share, with a total value of $95,202.80. Following the completion of the acquisition, the director now directly 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 accessible through this hyperlink. In the last ninety days, insiders have purchased 34,770 shares of company stock valued at $108,849. 2.30% of the stock is owned by insiders.

Granite Point Mortgage Trust Trading Down 0.8%

Shares of NYSE:GPMT traded down $0.02 during midday trading on Monday, reaching $2.45. The company had a trading volume of 241,799 shares, compared to its average volume of 421,070. The company's 50 day moving average price is $2.22 and its 200 day moving average price is $2.75. The stock has a market cap of $118.59 million, a P/E ratio of -0.56 and a beta of 1.66. Granite Point Mortgage Trust Inc. has a 52-week low of $1.61 and a 52-week high of $3.66.

Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($1.99) earnings per share for the quarter, missing analysts' consensus estimates of ($0.73) by ($1.26). The company had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.90 million. Granite Point Mortgage Trust had a negative return on equity of 14.08% and a negative net margin of 111.59%. Research analysts forecast that Granite Point Mortgage Trust Inc. will post -2.75 EPS for the current fiscal year.

Granite Point Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 8.16%. The ex-dividend date of this dividend was Tuesday, April 1st. Granite Point Mortgage Trust's dividend payout ratio (DPR) 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.