Dean Investment Associates LLC Takes $3.73 Million Position in Granite Point Mortgage Trust Inc (GPMT)

Dean Investment Associates LLC purchased a new position in Granite Point Mortgage Trust Inc (NYSE:GPMT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 210,195 shares of the company’s stock, valued at approximately $3,729,000.

Other hedge funds have also made changes to their positions in the company. Maltese Capital Management LLC purchased a new position in Granite Point Mortgage Trust during the fourth quarter valued at $1,832,000. American Century Companies Inc. lifted its position in Granite Point Mortgage Trust by 99.3% during the fourth quarter. American Century Companies Inc. now owns 488,390 shares of the company’s stock valued at $8,664,000 after buying an additional 243,392 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in Granite Point Mortgage Trust during the fourth quarter valued at $147,000. Aperio Group LLC purchased a new position in Granite Point Mortgage Trust during the fourth quarter valued at $1,128,000. Finally, Monarch Partners Asset Management LLC purchased a new position in Granite Point Mortgage Trust during the fourth quarter valued at $4,299,000. 16.03% of the stock is owned by institutional investors.

Granite Point Mortgage Trust Inc (GPMT) opened at $16.80 on Thursday. Granite Point Mortgage Trust Inc has a 52-week low of $16.49 and a 52-week high of $19.30.

Granite Point Mortgage Trust (NYSE:GPMT) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). analysts forecast that Granite Point Mortgage Trust Inc will post 0.63 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Friday, December 29th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.05%. The ex-dividend date was Thursday, December 28th.

Several equities analysts have commented on GPMT shares. Compass Point started coverage on Granite Point Mortgage Trust in a research report on Friday, October 27th. They set a “buy” rating and a $19.50 price objective for the company. Zacks Investment Research raised Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $19.50 price objective on shares of Granite Point Mortgage Trust in a research report on Thursday, October 12th. Finally, Bank of America lowered their price objective on Granite Point Mortgage Trust from $19.50 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.58.

In related news, Director Brian Taylor purchased 5,600 shares of the stock in a transaction dated Thursday, November 16th. The stock was purchased at an average price of $17.87 per share, with a total value of $100,072.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephen Alpart purchased 2,882 shares of the stock in a transaction dated Friday, November 10th. The stock was bought at an average cost of $17.70 per share, with a total value of $51,011.40. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 52,232 shares of company stock valued at $920,146.

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Granite Point Mortgage Trust Company Profile

Granite Point Mortgage Trust Inc is focused primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt, such as commercial real estate investments. The Company formed to continue and expand the commercial real estate lending business. The Company is a long-term, fundamental value-oriented investor.

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

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