Goldman Sachs Group Inc. purchased a new position in shares of Granite Point Mortgage Trust Inc (NASDAQ:GPMT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,399,987 shares of the company’s stock, valued at approximately $45,408,000. Goldman Sachs Group Inc. owned approximately 5.55% of Granite Point Mortgage Trust at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobs Asset Management LLC acquired a new stake in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $13,739,000. Kennedy Capital Management Inc. acquired a new stake in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $5,673,000. Balyasny Asset Management LLC acquired a new stake in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $2,117,000. Wells Fargo & Company MN acquired a new stake in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $393,000. Finally, Bienville Capital Management LLC acquired a new stake in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $191,000.

Shares of Granite Point Mortgage Trust Inc (GPMT) opened at 18.94 on Friday. Granite Point Mortgage Trust Inc has a 52 week low of $18.54 and a 52 week high of $19.30. The firm’s market cap is $818.87 million. The stock has a 50 day moving average of $19.04 and a 200 day moving average of $19.04.

The business also recently announced a special dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 28th.

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In other Granite Point Mortgage Trust news, major shareholder Two Harbors Investment Corp. acquired 8,166 shares of Granite Point Mortgage Trust stock in a transaction that occurred on Tuesday, October 3rd. The shares were acquired at an average cost of $18.93 per share, with a total value of $154,582.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Reid Sanders acquired 10,000 shares of Granite Point Mortgage Trust stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average cost of $19.16 per share, for a total transaction of $191,600.00. Following the completion of the purchase, the director now directly owns 17,564 shares of the company’s stock, valued at $336,526.24. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 320,746 shares of company stock worth $6,080,634.

Several equities research analysts have recently commented on GPMT shares. JMP Securities started 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 target price on the stock. Keefe, Bruyette & Woods started 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 target price on the stock. J P Morgan Chase & Co started coverage on shares of Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued an “overweight” rating and a $20.00 target price on the stock. Zacks Investment Research upgraded shares of Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, September 20th. Finally, Bank of America Corporation started coverage on shares of Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $20.25.

About Granite Point Mortgage Trust

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.

Institutional Ownership by Quarter for Granite Point Mortgage Trust (NASDAQ:GPMT)

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