Nisa Investment Advisors LLC Has $63,000 Holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Nisa Investment Advisors LLC lessened its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 41.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 21,183 shares of the company’s stock after selling 14,902 shares during the period. Nisa Investment Advisors LLC’s holdings in Granite Point Mortgage Trust were worth $63,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GPMT. Westend Capital Management LLC bought a new stake in Granite Point Mortgage Trust during the first quarter worth approximately $43,000. Gladius Capital Management LP bought a new stake in shares of Granite Point Mortgage Trust during the 4th quarter worth $44,000. B. Riley Wealth Advisors Inc. acquired a new position in Granite Point Mortgage Trust in the 1st quarter valued at $55,000. Warther Private Wealth LLC bought a new position in Granite Point Mortgage Trust in the 2nd quarter worth $65,000. Finally, Naviter Wealth LLC acquired a new position in Granite Point Mortgage Trust during the 1st quarter worth $69,000. Institutional investors and hedge funds own 51.63% of the company’s stock.

Insiders Place Their Bets

In other news, Director Stephen G. Kasnet sold 27,027 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $3.08, for a total transaction of $83,243.16. Following the completion of the transaction, the director now owns 121,066 shares of the company’s stock, valued at $372,883.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Granite Point Mortgage Trust Trading Up 1.6 %

GPMT opened at $2.58 on Monday. The business has a 50 day moving average of $2.87 and a 200-day moving average of $3.74. The stock has a market capitalization of $131.67 million, a price-to-earnings ratio of -1.12 and a beta of 1.79. Granite Point Mortgage Trust Inc. has a 1-year low of $2.49 and a 1-year high of $6.41.

Granite Point Mortgage Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date was Monday, July 1st. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -8.66%.

Analyst Upgrades and Downgrades

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

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.