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Nikolic Lazar, a director at Granite Point Mortgage Trust Inc . (NYSE:GPMT), has recently acquired 500 shares of the company’s 7.00% Series A Preferred Stock. The purchase, made on March 4, 2025, was executed at a price of $17.76 per share, totaling $8,880. The transaction comes as GPMT trades at $2.82 per share with a market capitalization of $138 million, and notably at just 0.22 times book value.
Following this transaction, Lazar holds a total of 769 shares in the preferred stock through Soaring Eagle LLC, an entity where he serves as a managing member of the investment advisor. Additionally, he has indirect ownership of 33,028 shares through JPL Opportunity (SO:FTCE11B) Fund LP, where he is also a managing member of the fund’s manager. In his direct ownership, Lazar holds 1,000 shares of the same preferred stock. According to InvestingPro analysis, this insider buying aligns with management’s aggressive share repurchase activity, while the company maintains a significant 7% dividend yield. For detailed insider trading patterns and 8 additional key insights about GPMT, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Granite Point Mortgage Trust has received attention following a reaffirmed Outperform rating from Raymond (NSE:RYMD) James. The research firm maintained its price target of $4.00, as analyst Stephen Laws updated estimates after a company update on December 19. The fourth-quarter dividend remained consistent with previous quarters, aligning with market expectations. Additionally, Granite Point resolved three watch list loans in the fourth quarter and anticipates addressing three more shortly. The company also repurchased 1.2 million shares in the same period, actions that may influence investor sentiment and reflect management’s confidence. Raymond James’ decision to maintain the Outperform rating considers the current valuation, which they believe excessively accounts for potential credit issues. The firm’s analysis suggests that resolving non-accrual assets could enhance Granite Point’s earnings potential. Investors may closely monitor the company’s progress in managing its portfolio and assets.
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