Fmr LLC Increases Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Fmr LLC increased its holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 237.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,296 shares of the company’s stock after purchasing an additional 5,836 shares during the quarter. Fmr LLC’s holdings in Granite Point Mortgage Trust were worth $26,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in shares of Granite Point Mortgage Trust during the third quarter worth about $46,000. Naviter Wealth LLC boosted its holdings in 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 buying an additional 7,500 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Granite Point Mortgage Trust during the 3rd quarter worth approximately $66,000. The Manufacturers Life Insurance Company raised its holdings in shares of Granite Point Mortgage Trust by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 23,684 shares of the company’s stock valued at $70,000 after acquiring an additional 4,807 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in shares of Granite Point Mortgage Trust in the second quarter valued at approximately $78,000. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GPMT shares. UBS Group raised their price target on shares of Granite Point Mortgage Trust from $3.50 to $4.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods raised shares of Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $3.00 to $3.25 in a research note on Tuesday, December 10th.

Granite Point Mortgage Trust Trading Up 3.8 %

Shares of GPMT opened at $2.97 on Thursday. The firm has a market capitalization of $148.38 million, a price-to-earnings ratio of -0.77 and a beta of 1.83. The firm’s fifty day simple moving average is $3.22 and its 200-day simple moving average is $3.00. Granite Point Mortgage Trust Inc. has a twelve month low of $2.46 and a twelve month high of $6.41.

Granite Point Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 6.73%. The ex-dividend date is Tuesday, December 31st. Granite Point Mortgage Trust’s payout ratio is currently -5.18%.

Granite Point Mortgage Trust 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.