Palogic Value Management L.P. Trims Stock Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Palogic Value Management L.P. cut its position in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 41.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,892 shares of the company’s stock after selling 85,500 shares during the quarter. Palogic Value Management L.P.’s holdings in Granite Point Mortgage Trust were worth $334,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GPMT. Wolverine Asset Management LLC grew its stake in Granite Point Mortgage Trust by 209.2% during the 4th quarter. Wolverine Asset Management LLC now owns 493,848 shares of the company’s stock valued at $1,378,000 after purchasing an additional 334,109 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Granite Point Mortgage Trust by 121.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company’s stock valued at $892,000 after purchasing an additional 154,202 shares during the period. Barclays PLC grew its position in shares of Granite Point Mortgage Trust by 64.4% during the third quarter. Barclays PLC now owns 115,750 shares of the company’s stock worth $367,000 after acquiring an additional 45,323 shares during the last quarter. Jane Street Group LLC boosted its position in shares of 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 worth $350,000 after buying an additional 24,313 shares during the period. Finally, FMR LLC grew its position in Granite Point Mortgage Trust by 237.2% in the 3rd quarter. FMR LLC now owns 8,296 shares of the company’s stock valued at $26,000 after buying an additional 5,836 shares in the last quarter. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Insider Transactions at Granite Point Mortgage Trust

In related news, Director Patrick Gregory Halter acquired 34,001 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were bought at an average price of $2.80 per share, for a total transaction of $95,202.80. Following the purchase, the director now directly owns 34,001 shares in the company, valued at approximately $95,202.80. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 34,770 shares of company stock valued at $108,849 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Granite Point Mortgage Trust Stock Performance

NYSE:GPMT opened at $2.63 on Friday. Granite Point Mortgage Trust Inc. has a 52 week low of $2.46 and a 52 week high of $4.74. The company has a market capitalization of $128.58 million, a price-to-earnings ratio of -0.60 and a beta of 1.89. The company has a 50-day moving average of $2.87 and a 200-day moving average of $3.00.

Granite Point Mortgage Trust (NYSE:GPMT) 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 net margin of 111.59% and a negative return on equity of 14.08%. The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.90 million. Sell-side analysts forecast that Granite Point Mortgage Trust Inc. will post -2.75 EPS for the current year.

Granite Point Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.60%. Granite Point Mortgage Trust’s dividend payout ratio is -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.