Granite Point Mortgage Trust Inc (NYSE:GPMT) Holdings Lifted by Orinda Asset Management LLC

Orinda Asset Management LLC boosted its holdings in shares of Granite Point Mortgage Trust Inc (NYSE:GPMT) by 2.6% during the second quarter, Holdings Channel reports. The firm owned 198,771 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. Granite Point Mortgage Trust makes up about 5.1% of Orinda Asset Management LLC’s investment portfolio, making the stock its 7th biggest position. Orinda Asset Management LLC’s holdings in Granite Point Mortgage Trust were worth $3,814,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. New York State Teachers Retirement System grew its holdings in shares of Granite Point Mortgage Trust by 34.1% during the 1st quarter. New York State Teachers Retirement System now owns 70,757 shares of the company’s stock worth $1,314,000 after acquiring an additional 18,001 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Granite Point Mortgage Trust by 17.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,553 shares of the company’s stock worth $326,000 after acquiring an additional 2,652 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Granite Point Mortgage Trust by 66.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 398,065 shares of the company’s stock worth $7,392,000 after acquiring an additional 158,714 shares during the period. Norges Bank purchased a new position in shares of Granite Point Mortgage Trust during the 4th quarter worth approximately $3,895,000. Finally, Relative Value Partners Group LLC grew its holdings in shares of Granite Point Mortgage Trust by 8.6% during the 1st quarter. Relative Value Partners Group LLC now owns 173,648 shares of the company’s stock worth $3,297,000 after acquiring an additional 13,734 shares during the period. Institutional investors own 72.45% of the company’s stock.

A number of research firms have weighed in on GPMT. Raymond James downgraded Granite Point Mortgage Trust from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $21.00 to $20.50 in a report on Tuesday. Zacks Investment Research upgraded Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st.



In other Granite Point Mortgage Trust news, COO Steven Plust acquired 10,600 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $18.56 per share, with a total value of $196,736.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Marcin Urbaszek sold 2,337 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $18.92, for a total value of $44,216.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,075 shares of company stock worth $133,859. Insiders own 2.00% of the company’s stock.

Shares of GPMT traded up $0.24 during mid-day trading on Friday, reaching $18.41. The company had a trading volume of 9,890 shares, compared to its average volume of 354,414. The company has a debt-to-equity ratio of 1.44, a quick ratio of 28.84 and a current ratio of 28.84. The firm has a 50-day moving average price of $18.99 and a 200 day moving average price of $18.96. Granite Point Mortgage Trust Inc has a 52 week low of $17.45 and a 52 week high of $19.69. The company has a market capitalization of $996.63 million, a price-to-earnings ratio of 12.94 and a beta of 0.39.

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

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were given a $0.42 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.13%. Granite Point Mortgage Trust’s dividend payout ratio is currently 118.31%.

Granite Point Mortgage Trust Company 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, 2018, its investment portfolio includes 94 commercial real estate debt investments.

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

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