Roosevelt Investment Group Inc. Purchased $481,000 in Granite Point Mortgage Trust Inc (GPMT)

Roosevelt Investment Group Inc. Purchased $481,000 in Granite Point Mortgage Trust Inc (GPMT)

Roosevelt Investment Group Inc. bought a new stake in Granite Point Mortgage Trust Inc (NYSE:GPMT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 26,702 shares of the company’s stock, valued at approximately $481,000. Roosevelt Investment Group Inc. owned about 0.06% of Granite Point Mortgage Trust as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of GPMT. Meeder Asset Management Inc. purchased a new stake in shares of Granite Point Mortgage Trust in the 4th quarter valued at about $33,000. SG Americas Securities LLC purchased a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter valued at about $124,000. Piedmont Investment Advisors Inc. lifted its holdings in shares of Granite Point Mortgage Trust by 1,242.6% in the 3rd quarter. Piedmont Investment Advisors Inc. now owns 10,002 shares of the company’s stock valued at $193,000 after purchasing an additional 9,257 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter valued at about $200,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter valued at about $258,000. 73.56% of the stock is owned by institutional investors and hedge funds.

GPMT opened at $18.95 on Tuesday. The company has a quick ratio of 28.78, a current ratio of 1.64 and a debt-to-equity ratio of 1.11. The company has a market cap of $840.26 million, a price-to-earnings ratio of 13.35 and a beta of 0.38. Granite Point Mortgage Trust Inc has a 52 week low of $16.38 and a 52 week high of $19.69.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 18th. Shareholders of record on Monday, December 31st were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 8.87%. The ex-dividend date of this dividend was Friday, December 28th. Granite Point Mortgage Trust’s dividend payout ratio is presently 118.31%.

In other Granite Point Mortgage Trust news, insider John A. Taylor sold 10,734 shares of the company’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 transaction of $209,313.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marcin Urbaszek sold 1,966 shares of the company’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $19.55, for a total value of $38,435.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,647 shares of company stock valued at $344,432. 2.10% of the stock is owned by company insiders.

Several analysts have recently weighed in on the company. Zacks Investment Research raised Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, October 17th. JPMorgan Chase & Co. boosted their target price on Granite Point Mortgage Trust from $19.00 to $19.50 and gave the company an “overweight” rating in a report on Wednesday, October 24th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $20.10.

Granite Point Mortgage Trust 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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