Optimum Investment Advisors Has $164,000 Stock Position in Granite Point Mortgage Trust Inc (NYSE:GPMT)

Optimum Investment Advisors raised its position in Granite Point Mortgage Trust Inc (NYSE:GPMT) by 53.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,568 shares of the company’s stock after acquiring an additional 3,000 shares during the period. Optimum Investment Advisors’ holdings in Granite Point Mortgage Trust were worth $164,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GPMT. New York State Teachers Retirement System grew its stake in shares of Granite Point Mortgage Trust by 34.1% in the 1st quarter. New York State Teachers Retirement System now owns 70,757 shares of the company’s stock valued at $1,314,000 after purchasing an additional 18,001 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Granite Point Mortgage Trust by 17.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,553 shares of the company’s stock valued at $326,000 after purchasing an additional 2,652 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Granite Point Mortgage Trust by 66.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 398,065 shares of the company’s stock valued at $7,392,000 after purchasing an additional 158,714 shares during the period. Advisory Services Network LLC grew its stake in shares of Granite Point Mortgage Trust by 5,555.6% in the 4th quarter. Advisory Services Network LLC now owns 2,036 shares of the company’s stock valued at $37,000 after purchasing an additional 2,000 shares during the period. Finally, Norges Bank bought a new stake in shares of Granite Point Mortgage Trust in the 4th quarter valued at approximately $3,895,000. 74.23% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research upgraded Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st.

In related news, General Counsel Rebecca B. Sandberg sold 1,610 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $18.92, for a total transaction of $30,461.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Alpart sold 3,128 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $18.92, for a total value of $59,181.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,075 shares of company stock worth $133,859. 2.00% of the stock is owned by corporate insiders.

Shares of GPMT stock traded up $0.03 during trading hours on Friday, hitting $18.71. The company had a trading volume of 136,383 shares, compared to its average volume of 325,831. Granite Point Mortgage Trust Inc has a 12 month low of $17.45 and a 12 month high of $19.69. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 13.18 and a beta of 0.39. The stock’s fifty day moving average is $19.05. The company has a debt-to-equity ratio of 1.44, a current ratio of 28.84 and a quick ratio of 12.95.

Granite Point Mortgage Trust (NYSE:GPMT) last released its quarterly earnings results on Monday, August 5th. The company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). The business had revenue of $27.83 million for the quarter, compared to the consensus estimate of $28.90 million. Granite Point Mortgage Trust had a return on equity of 7.57% and a net margin of 31.28%. On average, research analysts expect that Granite Point Mortgage Trust Inc will post 1.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.68 dividend on an annualized basis and a yield of 8.98%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently 118.31%.

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, 2018, its investment portfolio includes 94 commercial real estate debt investments.

See Also: Why do earnings reports matter?

Want to see what other hedge funds are holding GPMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Granite Point Mortgage Trust Inc (NYSE:GPMT).

Institutional Ownership by Quarter for Granite Point Mortgage Trust (NYSE:GPMT)

Receive News & Ratings for Granite Point Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Point Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.