Wolverine Asset Management LLC raised its position in Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) by 209.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 493,848 shares of the company's stock after buying an additional 334,109 shares during the period. Wolverine Asset Management LLC owned 0.99% of Granite Point Mortgage Trust worth $1,378,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GPMT. Penserra Capital Management LLC lifted its position in shares of Granite Point Mortgage Trust by 23.0% during the third quarter. Penserra Capital Management LLC now owns 318,670 shares of the company's stock worth $1,010,000 after purchasing an additional 59,520 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Granite Point Mortgage Trust by 121.4% in the third quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company's stock valued at $892,000 after buying an additional 154,202 shares during the period. Barclays PLC lifted its holdings in Granite Point Mortgage Trust by 64.4% in the third quarter. Barclays PLC now owns 115,750 shares of the company's stock valued at $367,000 after buying an additional 45,323 shares during the period. Jane Street Group LLC lifted its holdings in Granite Point Mortgage Trust by 28.3% in the third quarter. Jane Street Group LLC now owns 110,362 shares of the company's stock valued at $350,000 after buying an additional 24,313 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in Granite Point Mortgage Trust by 25.7% in the third quarter. GSA Capital Partners LLP now owns 54,223 shares of the company's stock valued at $172,000 after buying an additional 11,101 shares during the period. 51.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of GPMT stock traded down $0.08 during trading hours on Friday, hitting $2.88. 386,121 shares of the company were exchanged, compared to its average volume of 352,728. The business has a 50 day moving average of $2.91 and a two-hundred day moving average of $2.96. Granite Point Mortgage Trust Inc. has a 52 week low of $2.46 and a 52 week high of $5.01. The company has a market capitalization of $143.83 million, a PE ratio of -0.66 and a beta of 1.86.
Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) last issued its quarterly earnings data 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). Granite Point Mortgage Trust had a negative return on equity of 14.08% and a negative net margin of 111.59%. The company had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.90 million. On average, research analysts forecast that Granite Point Mortgage Trust Inc. will post -2.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 6.95%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Point Mortgage Trust's dividend payout ratio is -4.56%.
Several equities analysts recently weighed in on GPMT shares. UBS Group increased their price objective on shares of Granite Point Mortgage Trust from $3.50 to $4.00 and gave the company a "buy" rating in a report on Friday, November 15th. Keefe, Bruyette & Woods upgraded shares of Granite Point Mortgage Trust from an "underperform" rating to a "market perform" rating and increased their price objective for the company from $3.00 to $3.25 in a report on Tuesday, December 10th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Granite Point Mortgage Trust in a research note on Tuesday.
View Our Latest Analysis on GPMT
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.
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