Royal Bank of Canada Cuts Stake in Granite Point Mortgage Trust Inc (GPMT)

Royal Bank of Canada reduced its position in Granite Point Mortgage Trust Inc (NYSE:GPMT) by 90.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,949 shares of the company’s stock after selling 65,337 shares during the quarter. Royal Bank of Canada’s holdings in Granite Point Mortgage Trust were worth $115,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Treasurer State of Michigan raised its position in Granite Point Mortgage Trust by 42.6% during the 1st quarter. State Treasurer State of Michigan now owns 2,108,739 shares of the company’s stock valued at $34,879,000 after purchasing an additional 630,000 shares during the last quarter. Northern Trust Corp raised its position in Granite Point Mortgage Trust by 1.5% during the 1st quarter. Northern Trust Corp now owns 618,882 shares of the company’s stock valued at $10,235,000 after purchasing an additional 8,966 shares during the last quarter. KAMES CAPITAL plc raised its position in Granite Point Mortgage Trust by 114.5% during the 1st quarter. KAMES CAPITAL plc now owns 363,780 shares of the company’s stock valued at $6,021,000 after purchasing an additional 194,161 shares during the last quarter. Monarch Partners Asset Management LLC raised its position in Granite Point Mortgage Trust by 8.0% during the 1st quarter. Monarch Partners Asset Management LLC now owns 261,665 shares of the company’s stock valued at $4,328,000 after purchasing an additional 19,315 shares during the last quarter. Finally, Resource America Inc. bought a new position in Granite Point Mortgage Trust during the 1st quarter valued at approximately $4,234,000. Hedge funds and other institutional investors own 68.05% of the company’s stock.

Shares of NYSE:GPMT opened at $18.77 on Wednesday. Granite Point Mortgage Trust Inc has a 52-week low of $16.15 and a 52-week high of $19.30. The company has a market capitalization of $806.98 million, a PE ratio of 14.18, a PEG ratio of 0.55 and a beta of 0.07. The company has a debt-to-equity ratio of 0.96, a current ratio of 35.46 and a quick ratio of 35.46.



Granite Point Mortgage Trust (NYSE:GPMT) last announced its earnings results on Monday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. Granite Point Mortgage Trust had a return on equity of 6.87% and a net margin of 36.50%. The firm had revenue of $22.84 million during the quarter, compared to analyst estimates of $41.20 million. equities research analysts forecast that Granite Point Mortgage Trust Inc will post 1.54 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 18th. Stockholders of record on Monday, July 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 29th. This represents a $1.60 annualized dividend and a dividend yield of 8.52%. This is a positive change from Granite Point Mortgage Trust’s previous quarterly dividend of $0.38.

A number of research firms have commented on GPMT. Compass Point reaffirmed a “buy” rating and set a $20.00 price target on shares of Granite Point Mortgage Trust in a research report on Tuesday, August 7th. Zacks Investment Research raised Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 17th. Keefe, Bruyette & Woods lowered Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, July 30th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. increased their target price on Granite Point Mortgage Trust from $18.00 to $19.00 and gave the stock a “$18.48” rating in a research report on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.50.

In other news, General Counsel Rebecca B. Sandberg sold 1,474 shares of the stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $18.69, for a total value of $27,549.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Marcin Urbaszek bought 2,500 shares of the firm’s stock in a transaction dated Thursday, May 24th. The stock was purchased at an average cost of $18.34 per share, with a total value of $45,850.00. The disclosure for this purchase can be found here. 2.10% of the stock is currently owned by corporate insiders.

Granite Point Mortgage Trust Profile

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

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