Granite Point Mortgage Trust Inc. (NYSE:GPMT) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its position in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 20.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 84,804 shares of the company’s stock after selling 22,181 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Granite Point Mortgage Trust were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in GPMT. Price T Rowe Associates Inc. MD grew its position in shares of Granite Point Mortgage Trust by 2.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 118,793 shares of the company’s stock worth $567,000 after acquiring an additional 3,336 shares in the last quarter. Abundance Wealth Counselors grew its position in shares of Granite Point Mortgage Trust by 28.5% in the 2nd quarter. Abundance Wealth Counselors now owns 69,165 shares of the company’s stock worth $205,000 after acquiring an additional 15,349 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Granite Point Mortgage Trust by 13.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,943 shares of the company’s stock worth $549,000 after acquiring an additional 21,810 shares in the last quarter. Naviter Wealth LLC grew its position in shares of Granite Point Mortgage Trust by 53.6% in the 2nd quarter. Naviter Wealth LLC now owns 21,500 shares of the company’s stock worth $64,000 after acquiring an additional 7,500 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in Granite Point Mortgage Trust during the 2nd quarter valued at approximately $78,000. Institutional investors and hedge funds own 51.63% of the company’s stock.

Granite Point Mortgage Trust Stock Performance

Shares of GPMT stock opened at $3.44 on Wednesday. Granite Point Mortgage Trust Inc. has a 1 year low of $2.46 and a 1 year high of $6.41. The stock has a fifty day moving average of $3.18 and a two-hundred day moving average of $2.99. The firm has a market capitalization of $171.86 million, a PE ratio of -0.89 and a beta of 1.83.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.20 dividend on an annualized basis and a yield of 5.81%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -5.18%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods upgraded Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $3.00 to $3.25 in a research report on Tuesday. UBS Group boosted their price objective on Granite Point Mortgage Trust from $3.50 to $4.00 and gave the company a “buy” rating in a research report on Friday, November 15th.

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.