Wolverine Asset Management LLC Purchases New Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Wolverine Asset Management LLC acquired a new stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 159,739 shares of the company’s stock, valued at approximately $506,000. Wolverine Asset Management LLC owned approximately 0.32% of Granite Point Mortgage Trust as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Granite Point Mortgage Trust during the 3rd quarter worth about $66,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Granite Point Mortgage Trust by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,684 shares of the company’s stock worth $70,000 after buying an additional 4,807 shares during the period. Sei Investments Co. grew its stake in Granite Point Mortgage Trust by 29.8% in the 2nd quarter. Sei Investments Co. now owns 52,725 shares of the company’s stock valued at $157,000 after buying an additional 12,100 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Granite Point Mortgage Trust by 8.7% in the 2nd quarter. Hsbc Holdings PLC now owns 59,938 shares of the company’s stock worth $170,000 after acquiring an additional 4,805 shares during the period. Finally, Oak Thistle LLC acquired a new position in Granite Point Mortgage Trust during the 2nd quarter worth $78,000. Institutional investors own 51.63% of the company’s stock.

Granite Point Mortgage Trust Trading Up 2.9 %

Shares of Granite Point Mortgage Trust stock opened at $3.37 on Thursday. Granite Point Mortgage Trust Inc. has a 1 year low of $2.46 and a 1 year high of $6.41. The company’s fifty day simple moving average is $2.99 and its 200-day simple moving average is $3.04. The company has a market cap of $168.12 million, a price-to-earnings ratio of -0.87 and a beta of 1.79.

Granite Point Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.20 annualized dividend and a dividend yield of 5.94%. Granite Point Mortgage Trust’s payout ratio is -5.18%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their price target on Granite Point Mortgage Trust from $2.75 to $3.00 and gave the company an “underperform” rating in a research report on Tuesday.

About Granite Point Mortgage Trust

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.