Virtu Financial LLC Buys New Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Virtu Financial LLC purchased a new position in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,576 shares of the company’s stock, valued at approximately $43,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Intech Investment Management LLC bought a new position in shares of Granite Point Mortgage Trust during the 3rd quarter valued at approximately $46,000. FMR LLC lifted its stake in Granite Point Mortgage Trust by 237.2% in the third quarter. FMR LLC now owns 8,296 shares of the company’s stock valued at $26,000 after purchasing an additional 5,836 shares during the last quarter. Jane Street Group LLC grew its holdings in Granite Point Mortgage Trust by 28.3% during the third quarter. Jane Street Group LLC now owns 110,362 shares of the company’s stock valued at $350,000 after purchasing an additional 24,313 shares during the period. Barclays PLC increased its position in Granite Point Mortgage Trust by 64.4% in the third quarter. Barclays PLC now owns 115,750 shares of the company’s stock worth $367,000 after buying an additional 45,323 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Granite Point Mortgage Trust in the third quarter valued at $61,000. 51.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Granite Point Mortgage Trust news, Director Patrick Gregory Halter purchased 34,001 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was bought at an average cost of $2.80 per share, with a total value of $95,202.80. Following the transaction, the director now directly owns 34,001 shares in the company, valued at approximately $95,202.80. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 34,770 shares of company stock worth $108,849 in the last quarter. 2.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group lowered their price target on shares of Granite Point Mortgage Trust from $3.75 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods upgraded Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $3.00 to $3.25 in a research report on Tuesday, December 10th. Finally, JMP Securities reiterated a “market perform” rating on shares of Granite Point Mortgage Trust in a research report on Tuesday, February 18th.

Granite Point Mortgage Trust Stock Down 3.3 %

Granite Point Mortgage Trust stock opened at $2.52 on Wednesday. The firm has a fifty day simple moving average of $2.85 and a two-hundred day simple moving average of $3.00. Granite Point Mortgage Trust Inc. has a twelve month low of $2.46 and a twelve month high of $4.60. The company has a market capitalization of $122.86 million, a PE ratio of -0.57 and a beta of 1.89.

Granite Point Mortgage Trust (NYSE:GPMT) last issued its earnings results on Thursday, February 13th. The company reported ($1.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($1.26). The firm had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.90 million. Granite Point Mortgage Trust had a negative return on equity of 14.08% and a negative net margin of 111.59%. As a group, equities analysts expect that Granite Point Mortgage Trust Inc. will post -2.75 earnings per share for the current fiscal year.

Granite Point Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 7.95%. The ex-dividend date of this dividend is Tuesday, April 1st. Granite Point Mortgage Trust’s dividend payout ratio is currently -4.56%.

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.