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

Granite Point Mortgage Trust Inc. (NYSE:GPMT - Get Free Report) Director Tanuja M. Dehne sold 8,814 shares of the company's 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 transaction, the director now directly owns 77,152 shares in the company, valued at $196,737.60. This trade represents a 10.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Granite Point Mortgage Trust Stock Down 5.1%

NYSE GPMT traded down $0.13 on Friday, reaching $2.42. The company had a trading volume of 671,055 shares, compared to its average volume of 417,394. The stock's 50 day moving average is $2.18 and its 200-day moving average is $2.65. The stock has a market cap of $117.14 million, a price-to-earnings ratio of -0.55 and a beta of 1.77. Granite Point Mortgage Trust Inc. has a 52 week low of $1.61 and a 52 week high of $3.66.

Institutional Investors Weigh In On Granite Point Mortgage Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its holdings in Granite Point Mortgage Trust by 9.4% in the first quarter. Acadian Asset Management LLC now owns 602,372 shares of the company's stock valued at $1,565,000 after purchasing an additional 51,780 shares during the last quarter. AQR Capital Management LLC increased its holdings in Granite Point Mortgage Trust by 473.4% in the first quarter. AQR Capital Management LLC now owns 156,518 shares of the company's stock valued at $407,000 after purchasing an additional 129,222 shares during the last quarter. Cura Wealth Advisors LLC increased its holdings in Granite Point Mortgage Trust by 16.8% in the first quarter. Cura Wealth Advisors LLC now owns 1,465,929 shares of the company's stock valued at $3,811,000 after purchasing an additional 210,408 shares during the last quarter. Vident Advisory LLC bought a new stake in shares of Granite Point Mortgage Trust in the first quarter worth about $124,000. Finally, Ieq Capital LLC increased its holdings in shares of Granite Point Mortgage Trust by 123.4% in the first quarter. Ieq Capital LLC now owns 35,081 shares of the company's stock worth $91,000 after acquiring an additional 19,378 shares in the last quarter. Institutional investors own 51.63% of the company's stock.

Analyst Upgrades and Downgrades

GPMT has been the topic of several research reports. Keefe, Bruyette & Woods cut their price target on 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 reaffirmed a "buy" rating and set a $3.25 price target (up previously from $2.50) on shares of Granite Point Mortgage Trust in a research note on Wednesday, May 21st. Finally, JMP Securities reiterated a "market perform" rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th.

Granite Point Mortgage Trust Company 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.