Nisa Investment Advisors LLC Has $51,000 Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Nisa Investment Advisors LLC trimmed its position in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 23.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,190 shares of the company’s stock after selling 4,993 shares during the period. Nisa Investment Advisors LLC’s holdings in Granite Point Mortgage Trust were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position in shares of Granite Point Mortgage Trust by 2.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,323,871 shares of the company’s stock valued at $6,314,000 after acquiring an additional 33,474 shares during the period. Epiq Partners LLC increased its position in shares of Granite Point Mortgage Trust by 2.3% in the second quarter. Epiq Partners LLC now owns 591,825 shares of the company’s stock worth $1,758,000 after purchasing an additional 13,400 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Granite Point Mortgage Trust by 115.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 209,802 shares of the company’s stock valued at $1,001,000 after purchasing an additional 112,523 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Granite Point Mortgage Trust by 13.4% during the second quarter. Bank of New York Mellon Corp now owns 184,943 shares of the company’s stock worth $549,000 after purchasing an additional 21,810 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Granite Point Mortgage Trust by 2.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 118,793 shares of the company’s stock worth $567,000 after buying an additional 3,336 shares in the last quarter. Institutional investors own 51.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods dropped their target price on shares of Granite Point Mortgage Trust from $3.25 to $2.75 and set an “underperform” rating for the company in a research report on Monday, August 12th.

Granite Point Mortgage Trust Stock Performance

Shares of GPMT opened at $3.15 on Friday. Granite Point Mortgage Trust Inc. has a 52-week low of $2.46 and a 52-week high of $6.41. The firm has a market cap of $159.64 million, a price-to-earnings ratio of -0.86 and a beta of 1.79. The business’s fifty day moving average is $2.94 and its 200-day moving average is $3.07.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend was Tuesday, October 1st. Granite Point Mortgage Trust’s dividend payout ratio is presently -5.48%.

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.