Tanuja M. Dehne Sells 8,814 Shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) Stock

Granite Point Mortgage Trust Inc. (NYSE:GPMT - Get Free Report) Director Tanuja M. Dehne sold 8,814 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $2.55, for a total value of $22,475.70. Following the completion of the sale, the director now owns 77,152 shares in the company, valued at approximately $196,737.60. This trade represents a 10.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Granite Point Mortgage Trust Trading Up 1.2%

NYSE:GPMT traded up $0.03 during trading hours on Thursday, hitting $2.59. 375,648 shares of the company were exchanged, compared to its average volume of 415,580. The company has a fifty day simple moving average of $2.16 and a 200 day simple moving average of $2.67. Granite Point Mortgage Trust Inc. has a one year low of $1.61 and a one year high of $3.66. The stock has a market capitalization of $125.37 million, a price-to-earnings ratio of -0.59 and a beta of 1.77.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. 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 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 research report on Tuesday, February 18th. Finally, UBS Group restated a "buy" rating and set a $3.25 price objective (up from $2.50) on shares of Granite Point Mortgage Trust in a research report on Wednesday, May 21st.

Institutional Investors Weigh In On Granite Point Mortgage Trust

Large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Granite Point Mortgage Trust during the 1st quarter worth about $30,000. MetLife Investment Management LLC boosted its position in shares of Granite Point Mortgage Trust by 104.8% during the 4th quarter. MetLife Investment Management LLC now owns 12,676 shares of the company's stock valued at $35,000 after purchasing an additional 6,487 shares in the last quarter. CWM LLC grew its stake in Granite Point Mortgage Trust by 368.2% during the first quarter. CWM LLC now owns 15,047 shares of the company's stock worth $39,000 after purchasing an additional 11,833 shares during the period. ProShare Advisors LLC acquired a new stake in Granite Point Mortgage Trust during the fourth quarter worth approximately $40,000. Finally, Tower Research Capital LLC TRC increased its holdings in Granite Point Mortgage Trust by 190.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,786 shares of the company's stock worth $41,000 after purchasing an additional 9,697 shares in the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

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.