Granite Point Mortgage Trust (GPMT) Scheduled to Post Earnings on Wednesday

Granite Point Mortgage Trust (NYSE:GPMTGet Free Report) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, February 14th. Analysts expect the company to announce earnings of ($0.46) per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Granite Point Mortgage Trust Stock Up 1.0 %

Shares of NYSE:GPMT opened at $5.47 on Wednesday. The business has a 50 day moving average price of $5.79 and a 200 day moving average price of $5.29. Granite Point Mortgage Trust has a twelve month low of $3.97 and a twelve month high of $6.57. The company has a market cap of $281.87 million, a price-to-earnings ratio of -4.02 and a beta of 1.85.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.80 annualized dividend and a yield of 14.64%. Granite Point Mortgage Trust’s payout ratio is -58.82%.

Wall Street Analysts Forecast Growth

Separately, UBS Group initiated coverage on Granite Point Mortgage Trust in a report on Wednesday, December 6th. They issued a “buy” rating and a $6.50 price target for the company.

Check Out Our Latest Analysis on Granite Point Mortgage Trust

Insider Buying and Selling at Granite Point Mortgage Trust

In related news, CEO John A. Taylor bought 5,500 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average price of $5.06 per share, for a total transaction of $27,830.00. Following the transaction, the chief executive officer now directly owns 275,013 shares of the company’s stock, valued at $1,391,565.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO John A. Taylor bought 5,500 shares of the stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $5.06 per share, with a total value of $27,830.00. Following the purchase, the chief executive officer now owns 275,013 shares of the company’s stock, valued at $1,391,565.78. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Marcin Urbaszek bought 10,000 shares of the stock in a transaction dated Friday, November 10th. The stock was purchased at an average cost of $4.61 per share, with a total value of $46,100.00. Following the completion of the purchase, the chief financial officer now directly owns 77,058 shares in the company, valued at approximately $355,237.38. The disclosure for this purchase can be found here. Insiders bought a total of 24,500 shares of company stock valued at $116,970 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Granite Point Mortgage Trust

A number of institutional investors have recently made changes to their positions in the stock. MetLife Investment Management LLC grew its stake in Granite Point Mortgage Trust by 100.7% in the first quarter. MetLife Investment Management LLC now owns 24,998 shares of the company’s stock valued at $278,000 after acquiring an additional 12,541 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Granite Point Mortgage Trust by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,371 shares of the company’s stock valued at $516,000 after purchasing an additional 5,717 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Granite Point Mortgage Trust by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,703,298 shares of the company’s stock valued at $52,301,000 after purchasing an additional 64,535 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Granite Point Mortgage Trust by 29.0% in the first quarter. Penserra Capital Management LLC now owns 23,385 shares of the company’s stock valued at $260,000 after purchasing an additional 5,256 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Granite Point Mortgage Trust by 3.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 389,038 shares of the company’s stock valued at $4,327,000 after purchasing an additional 11,708 shares in the last quarter. 47.42% of the stock is owned by institutional investors and hedge funds.

About Granite Point Mortgage Trust

(Get Free Report)

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.

Recommended Stories

Earnings History for Granite Point Mortgage Trust (NYSE:GPMT)

Receive News & Ratings for Granite Point Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Point Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.