Balyasny Asset Management L.P. Trims Stock Holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Balyasny Asset Management L.P. cut its position in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) by 39.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 498,437 shares of the company's stock after selling 323,737 shares during the quarter. Balyasny Asset Management L.P. owned about 1.00% of Granite Point Mortgage Trust worth $1,391,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Gratia Capital LLC acquired a new stake in Granite Point Mortgage Trust in the fourth quarter worth $1,953,000. Wolverine Asset Management LLC grew its holdings in shares of Granite Point Mortgage Trust by 209.2% during the fourth 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 last quarter. Raymond James Financial Inc. acquired a new position in shares of Granite Point Mortgage Trust during the fourth quarter valued at about $634,000. JPMorgan Chase & Co. grew its holdings in shares of Granite Point Mortgage Trust by 121.4% during the third quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company's stock valued at $892,000 after buying an additional 154,202 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Granite Point Mortgage Trust by 120.4% during the fourth quarter. Jane Street Group LLC now owns 243,265 shares of the company's stock valued at $679,000 after buying an additional 132,903 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JMP Securities reiterated a "market perform" rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th. UBS Group reduced their price objective on shares of Granite Point Mortgage Trust from $3.50 to $2.50 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of 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.

Granite Point Mortgage Trust Trading Up 2.1%

Shares of GPMT traded up $0.05 during trading hours on Friday, reaching $2.46. 405,234 shares of the stock traded hands, compared to its average volume of 421,790. The stock has a fifty day simple moving average of $2.22 and a 200 day simple moving average of $2.76. 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 $119.08 million, a price-to-earnings ratio of -0.56 and a beta of 1.66.

Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) last released 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). Granite Point Mortgage Trust had a negative net margin of 111.59% and a negative return on equity of 14.08%. The firm had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.90 million. Analysts predict that Granite Point Mortgage Trust Inc. will post -2.75 earnings per share for the current fiscal year.

Granite Point Mortgage Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 8.13%. The ex-dividend date of this dividend was Tuesday, April 1st. Granite Point Mortgage Trust's payout ratio is currently -6.49%.

Insider Activity at Granite Point Mortgage Trust

In related news, Director Patrick Gregory Halter acquired 34,001 shares of the stock in a transaction on Tuesday, February 25th. The shares were acquired at an average price of $2.80 per share, with a total value of $95,202.80. Following the completion of the transaction, the director now owns 34,001 shares in the company, valued at approximately $95,202.80. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought 34,770 shares of company stock valued at $108,849 over the last ninety days. Corporate insiders own 2.30% of the company's stock.

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.