Oak Thistle LLC purchased a new stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,226 shares of the company’s stock, valued at approximately $67,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Granite Point Mortgage Trust by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,703,298 shares of the company’s stock valued at $52,301,000 after buying an additional 64,535 shares in the last quarter. BlackRock Inc. lifted its position in shares of Granite Point Mortgage Trust by 0.9% in the second quarter. BlackRock Inc. now owns 4,238,440 shares of the company’s stock worth $22,464,000 after purchasing an additional 38,963 shares in the last quarter. State Street Corp lifted its position in shares of Granite Point Mortgage Trust by 1.3% in the second quarter. State Street Corp now owns 2,411,283 shares of the company’s stock worth $23,671,000 after purchasing an additional 31,891 shares in the last quarter. Invesco Ltd. lifted its position in shares of Granite Point Mortgage Trust by 108.4% in the first quarter. Invesco Ltd. now owns 1,583,194 shares of the company’s stock worth $17,605,000 after purchasing an additional 823,363 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Granite Point Mortgage Trust by 2.9% in the first quarter. Geode Capital Management LLC now owns 1,037,741 shares of the company’s stock worth $5,147,000 after purchasing an additional 29,184 shares in the last quarter. Institutional investors own 51.63% of the company’s stock.
Wall Street Analyst Weigh In
GPMT has been the topic of a number of research reports. JMP Securities lowered shares of Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 20th. Raymond James cut their price objective on shares of Granite Point Mortgage Trust from $7.00 to $6.50 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Finally, UBS Group cut their price objective on shares of Granite Point Mortgage Trust from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th.
Check Out Our Latest Stock Report on Granite Point Mortgage Trust
Granite Point Mortgage Trust Trading Down 1.3 %
Shares of GPMT opened at $4.43 on Friday. The company has a market cap of $225.01 million, a price-to-earnings ratio of -2.95 and a beta of 1.80. Granite Point Mortgage Trust Inc. has a 1-year low of $3.97 and a 1-year high of $6.41. The company’s fifty day simple moving average is $4.90 and its 200 day simple moving average is $5.11.
Granite Point Mortgage Trust Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.60 dividend on an annualized basis and a yield of 13.54%. Granite Point Mortgage Trust’s payout ratio is -40.00%.
Granite Point Mortgage Trust Company Profile
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.
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