John A. Taylor Sells 10,734 Shares of Granite Point Mortgage Trust Inc (GPMT) Stock

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Granite Point Mortgage Trust Inc (NYSE:GPMT) insider John A. Taylor sold 10,734 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $19.50, for a total value of $209,313.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

GPMT stock opened at $18.91 on Friday. The company has a market capitalization of $837.60 million, a P/E ratio of 12.95 and a beta of 0.38. The company has a current ratio of 1.64, a quick ratio of 28.78 and a debt-to-equity ratio of 1.11. Granite Point Mortgage Trust Inc has a 12-month low of $16.15 and a 12-month high of $19.69.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 18th. Stockholders of record on Monday, December 31st were paid a $0.42 dividend. The ex-dividend date was Friday, December 28th. This represents a $1.68 annualized dividend and a dividend yield of 8.88%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is 118.31%.

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut Granite Point Mortgage Trust from an “overweight” rating to a “neutral” rating and set a $19.50 price target on the stock. in a research report on Wednesday, January 16th. Zacks Investment Research raised Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $20.10.

Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Granite Point Mortgage Trust by 93.9% in the 3rd quarter. BlackRock Inc. now owns 7,443,117 shares of the company’s stock worth $143,503,000 after buying an additional 3,604,481 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Granite Point Mortgage Trust by 11.4% in the 3rd quarter. Vanguard Group Inc now owns 4,040,006 shares of the company’s stock valued at $77,891,000 after acquiring an additional 411,946 shares during the last quarter. Vanguard Group Inc. lifted its stake in Granite Point Mortgage Trust by 11.4% in the third quarter. Vanguard Group Inc. now owns 4,040,006 shares of the company’s stock worth $77,891,000 after purchasing an additional 411,946 shares during the last quarter. Monarch Partners Asset Management LLC lifted its stake in Granite Point Mortgage Trust by 381.5% in the fourth quarter. Monarch Partners Asset Management LLC now owns 463,398 shares of the company’s stock worth $8,355,000 after purchasing an additional 367,163 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Granite Point Mortgage Trust by 698.8% in the third quarter. Acadian Asset Management LLC now owns 377,298 shares of the company’s stock worth $7,278,000 after purchasing an additional 330,067 shares during the last quarter. Hedge funds and other institutional investors own 74.08% of the company’s stock.

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Granite Point Mortgage Trust Company Profile

Granite Point Mortgage Trust Inc 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. As of December 31, 2017, its investment portfolio includes 61 commercial real estate debt investments.

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