Dean Capital Management purchased a new position in shares of Granite Point Mortgage Trust Inc (NYSE:GPMT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 155,255 shares of the company’s stock, valued at approximately $2,755,000. Dean Capital Management owned 0.36% of Granite Point Mortgage Trust as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in GPMT. Wells Fargo & Company MN boosted its holdings in shares of Granite Point Mortgage Trust by 13.6% in the 3rd quarter. Wells Fargo & Company MN now owns 23,626 shares of the company’s stock worth $443,000 after buying an additional 2,832 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in Granite Point Mortgage Trust during the fourth quarter valued at approximately $139,000. Public Employees Retirement Association of Colorado purchased a new stake in shares of Granite Point Mortgage Trust during the fourth quarter valued at approximately $147,000. Wolverine Asset Management LLC boosted its stake in shares of Granite Point Mortgage Trust by 12.7% during the fourth quarter. Wolverine Asset Management LLC now owns 78,736 shares of the company’s stock valued at $1,396,000 after purchasing an additional 8,843 shares during the period. Finally, Strs Ohio boosted its stake in shares of Granite Point Mortgage Trust by 324.1% during the fourth quarter. Strs Ohio now owns 12,300 shares of the company’s stock valued at $218,000 after purchasing an additional 9,400 shares during the period. 66.87% of the stock is currently owned by institutional investors and hedge funds.
GPMT has been the subject of several recent research reports. Zacks Investment Research lowered Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 25th. Keefe, Bruyette & Woods upgraded Granite Point Mortgage Trust from a “market perform” rating to an “outperform” rating in a report on Thursday, December 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $19.58.
Granite Point Mortgage Trust (NYSE:GPMT) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $37.06 million during the quarter, compared to the consensus estimate of $22.27 million. equities analysts forecast that Granite Point Mortgage Trust Inc will post 1.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.52 dividend on an annualized basis and a yield of 8.65%.
About Granite Point Mortgage Trust
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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