William Reid Sanders Acquires 31,000 Shares of Granite Point Mortgage Trust Inc. (GPMT) Stock

Granite Point Mortgage Trust Inc. (NYSE:GPMT) Director William Reid Sanders bought 31,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $17.58 per share, for a total transaction of $544,980.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Granite Point Mortgage Trust Inc. (NYSE:GPMT) opened at $17.78 on Wednesday. Granite Point Mortgage Trust Inc. has a 12-month low of $17.02 and a 12-month high of $19.30.

The firm also recently declared a special dividend, which was paid on Wednesday, October 18th. Shareholders of record on Friday, September 29th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, September 28th.

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GPMT has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, October 24th. Bank of America Corporation initiated coverage on shares of Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued a “neutral” rating on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued a “market perform” rating and a $19.50 price target on the stock. Compass Point initiated coverage on shares of Granite Point Mortgage Trust in a research note on Friday, October 27th. They issued a “buy” rating and a $19.50 price target on the stock. Finally, JMP Securities initiated coverage on shares of Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued an “outperform” rating and a $20.50 price target on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $19.58.

A number of institutional investors have recently bought and sold shares of GPMT. Goldman Sachs Group Inc. acquired a new position in Granite Point Mortgage Trust in the second quarter worth approximately $45,408,000. Jacobs Asset Management LLC acquired a new position in Granite Point Mortgage Trust in the 2nd quarter worth approximately $13,739,000. Kennedy Capital Management Inc. acquired a new position in Granite Point Mortgage Trust in the 2nd quarter worth approximately $5,673,000. Empyrean Capital Partners LP acquired a new stake in shares of Granite Point Mortgage Trust during the 2nd quarter valued at $5,470,000. Finally, American Century Companies Inc. acquired a new stake in shares of Granite Point Mortgage Trust during the 3rd quarter valued at $4,589,000. Hedge funds and other institutional investors own 16.34% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Granite Point Mortgage Trust (NYSE:GPMT)

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