John A. Taylor Acquires 4,000 Shares of Granite Point Mortgage Trust Inc (GPMT) Stock

Granite Point Mortgage Trust Inc (NYSE:GPMT) insider John A. Taylor purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The shares were acquired at an average price of $18.15 per share, for a total transaction of $72,600.00. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Granite Point Mortgage Trust stock opened at $18.79 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 28.78 and a quick ratio of 35.46. Granite Point Mortgage Trust Inc has a 12-month low of $16.15 and a 12-month high of $19.33. The stock has a market capitalization of $823.06 million, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 0.57 and a beta of 0.15.

Granite Point Mortgage Trust (NYSE:GPMT) last released its quarterly earnings results on Monday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. Granite Point Mortgage Trust had a return on equity of 7.55% and a net margin of 35.88%. The business had revenue of $24.20 million during the quarter, compared to analysts’ expectations of $23.70 million. As a group, sell-side analysts predict that Granite Point Mortgage Trust Inc will post 1.53 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Tuesday, October 2nd were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.94%. This is a boost from Granite Point Mortgage Trust’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, October 1st.

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Granite Point Mortgage Trust in the third quarter valued at about $124,000. Commonwealth Equity Services LLC bought a new position in shares of Granite Point Mortgage Trust in the second quarter valued at about $196,000. Atria Investments LLC bought a new position in shares of Granite Point Mortgage Trust in the second quarter valued at about $203,000. Advisors Asset Management Inc. raised its holdings in shares of Granite Point Mortgage Trust by 1,219.2% in the second quarter. Advisors Asset Management Inc. now owns 315,374 shares of the company’s stock valued at $242,000 after buying an additional 291,468 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Granite Point Mortgage Trust in the third quarter valued at about $275,000. 64.81% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the stock. Compass Point reiterated a “buy” rating and set a $20.00 price target on shares of Granite Point Mortgage Trust in a research note on Tuesday, August 7th. Keefe, Bruyette & Woods downgraded shares of Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, July 30th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. BTIG Research assumed coverage on shares of Granite Point Mortgage Trust in a research note on Monday, October 8th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Granite Point Mortgage Trust from $18.00 to $19.00 and gave the company a “$18.48” rating in a research note on Monday, July 23rd. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.75.

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About Granite Point Mortgage Trust

Granite Point Mortgage Trust Inc 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. As of December 31, 2017, its investment portfolio includes 61 commercial real estate debt investments.

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Insider Buying and Selling by Quarter for Granite Point Mortgage Trust (NYSE:GPMT)

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