Balyasny Asset Management L.P. Has $1.39 Million Holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Balyasny Asset Management L.P. lessened its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 39.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 498,437 shares of the company’s stock after selling 323,737 shares during the period. Balyasny Asset Management L.P.’s holdings in Granite Point Mortgage Trust were worth $1,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Granite Point Mortgage Trust by 111.1% during the 4th quarter. Bank of America Corp DE now owns 64,806 shares of the company’s stock worth $181,000 after buying an additional 34,103 shares during the period. Jane Street Group LLC raised its holdings in Granite Point Mortgage Trust by 120.4% during the 4th quarter. Jane Street Group LLC now owns 243,265 shares of the company’s stock worth $679,000 after buying an additional 132,903 shares during the period. Northern Trust Corp raised its holdings in Granite Point Mortgage Trust by 13.8% during the 4th quarter. Northern Trust Corp now owns 526,465 shares of the company’s stock worth $1,469,000 after buying an additional 63,970 shares during the period. Gratia Capital LLC acquired a new stake in Granite Point Mortgage Trust during the 4th quarter worth about $1,953,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Granite Point Mortgage Trust by 190.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,786 shares of the company’s stock valued at $41,000 after purchasing an additional 9,697 shares during the period. Institutional investors and hedge funds own 51.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group dropped their target price on Granite Point Mortgage Trust from $3.50 to $2.50 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their target price on Granite Point Mortgage Trust from $2.50 to $2.25 and set a “market perform” rating on the stock in a report on Wednesday, April 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th.

Granite Point Mortgage Trust Price Performance

Shares of GPMT opened at $2.38 on Wednesday. The company has a market capitalization of $115.21 million, a price-to-earnings ratio of -0.54 and a beta of 1.66. Granite Point Mortgage Trust Inc. has a fifty-two week low of $1.61 and a fifty-two week high of $3.66. The business’s 50-day moving average is $2.25 and its 200-day moving average is $2.77.

Granite Point Mortgage Trust (NYSE:GPMT) last released its quarterly earnings data on Thursday, February 13th. The company reported ($1.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($1.26). Granite Point Mortgage Trust had a negative return on equity of 14.08% and a negative net margin of 111.59%. The firm had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.90 million. Equities research analysts expect that Granite Point Mortgage Trust Inc. will post -2.75 earnings per share for the current fiscal year.

Granite Point Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.05 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.20 dividend on an annualized basis and a yield of 8.40%. Granite Point Mortgage Trust’s dividend payout ratio is currently -6.49%.

Insider Buying and Selling

In other news, Director Patrick Gregory Halter acquired 34,001 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were purchased at an average price of $2.80 per share, for a total transaction of $95,202.80. Following the completion of the acquisition, the director now owns 34,001 shares of the company’s stock, valued at approximately $95,202.80. This represents a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 34,770 shares of company stock worth $108,849. Insiders own 2.30% of the company’s stock.

About Granite Point Mortgage Trust

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.