Granite Point Mortgage Trust Inc. (NYSE:GPMT) CEO Buys $19,840.00 in Stock

Granite Point Mortgage Trust Inc. (NYSE:GPMT) CEO John A. Taylor purchased 4,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was acquired at an average price of $4.96 per share, with a total value of $19,840.00. Following the completion of the acquisition, the chief executive officer now directly owns 264,556 shares of the company’s stock, valued at $1,312,197.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Granite Point Mortgage Trust Price Performance

Shares of Granite Point Mortgage Trust stock opened at $5.24 on Friday. Granite Point Mortgage Trust Inc. has a 1 year low of $3.97 and a 1 year high of $7.07. The business has a 50-day moving average of $4.71 and a two-hundred day moving average of $5.00. The company has a market capitalization of $270.27 million, a P/E ratio of -3.85 and a beta of 1.65.

Granite Point Mortgage Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 29th. This represents a $0.80 annualized dividend and a dividend yield of 15.27%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is currently -58.82%.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market outperform” rating and issued a $9.00 price target on shares of Granite Point Mortgage Trust in a report on Thursday, August 17th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Relative Value Partners Group LLC grew its holdings in shares of Granite Point Mortgage Trust by 2.1% during the first quarter. Relative Value Partners Group LLC now owns 734,019 shares of the company’s stock worth $3,641,000 after buying an additional 14,867 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Granite Point Mortgage Trust during the second quarter worth about $1,102,000. Seaview Investment Managers LLC bought a new position in shares of Granite Point Mortgage Trust during the first quarter worth about $84,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Granite Point Mortgage Trust by 197.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,649 shares of the company’s stock worth $41,000 after buying an additional 5,074 shares in the last quarter. Finally, Abundance Wealth Counselors grew its holdings in shares of Granite Point Mortgage Trust by 30.8% during the first quarter. Abundance Wealth Counselors now owns 26,052 shares of the company’s stock worth $129,000 after buying an additional 6,128 shares in the last quarter. 47.42% of the stock is currently owned by institutional investors.

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.