Granite Point Mortgage Trust (NYSE:GPMT) Director Sells $13,600.00 in Stock

Granite Point Mortgage Trust (NYSE:GPMT) Director Hope Woodhouse sold 5,000 shares at an average price of $2.72, totaling $13,600. This sale represents a 4.38% decrease in her holdings, leaving her with 109,097 shares valued at approximately $296,743.84. The transaction was disclosed to the SEC. The stock opened at $2.8350, with a market cap of $134.38 million. The company recently paid a quarterly dividend of $0.05 per share, yielding 7.1%. Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and a target price of $3.13.

Granite Point Mortgage Trust Inc. (NYSE:GPMT - Get Free Report) Director Hope Woodhouse sold 5,000 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $2.72, for a total value of $13,600.00. Following the transaction, the director directly owned 109,097 shares of the company's stock, valued at $296,743.84. The trade was a 4.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Granite Point Mortgage Trust Price Performance

Shares of GPMT opened at $2.8350 on Friday. The business's fifty day moving average price is $2.60 and its 200 day moving average price is $2.51. The stock has a market capitalization of $134.38 million, a PE ratio of -1.34 and a beta of 1.76. Granite Point Mortgage Trust Inc. has a 12-month low of $1.61 and a 12-month high of $3.66.

Granite Point Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Granite Point Mortgage Trust's dividend payout ratio is currently -9.43%.

Institutional Investors Weigh In On Granite Point Mortgage Trust

Hedge funds have recently added to or reduced their stakes in the business. May Hill Capital LLC acquired a new stake in Granite Point Mortgage Trust in the 2nd quarter valued at about $28,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Granite Point Mortgage Trust in the second quarter valued at about $28,000. Confluence Wealth Services Inc. purchased a new stake in Granite Point Mortgage Trust during the second quarter worth about $29,000. Wealth Enhancement Advisory Services LLC acquired a new position in Granite Point Mortgage Trust during the first quarter worth about $30,000. Finally, Jump Financial LLC acquired a new position in shares of Granite Point Mortgage Trust in the second quarter valued at approximately $31,000. 51.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on GPMT shares. Wall Street Zen raised shares of Granite Point Mortgage Trust from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Keefe, Bruyette & Woods lifted their price target on Granite Point Mortgage Trust from $2.25 to $2.75 and gave the stock a "market perform" rating in a report on Thursday, July 10th. Finally, UBS Group boosted their target price on Granite Point Mortgage Trust from $3.25 to $3.50 and gave the stock a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $3.13.

View Our Latest Analysis on GPMT

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.