Penserra Capital Management LLC Buys 59,520 Shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Penserra Capital Management LLC grew its stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 23.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 318,670 shares of the company’s stock after buying an additional 59,520 shares during the period. Penserra Capital Management LLC owned 0.64% of Granite Point Mortgage Trust worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Epiq Partners LLC boosted its holdings in Granite Point Mortgage Trust by 2.3% in the second quarter. Epiq Partners LLC now owns 591,825 shares of the company’s stock valued at $1,758,000 after acquiring an additional 13,400 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Granite Point Mortgage Trust by 115.7% in the 1st 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 during the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 buying an additional 21,810 shares during the period. Wolverine Asset Management LLC bought a new position in Granite Point Mortgage Trust during the third quarter worth $506,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Granite Point Mortgage Trust by 2.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 118,793 shares of the company’s stock valued at $567,000 after buying an additional 3,336 shares during the period. 51.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. UBS Group increased their price target on Granite Point Mortgage Trust from $3.50 to $4.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods lifted their target price on Granite Point Mortgage Trust from $2.75 to $3.00 and gave the stock an “underperform” rating in a report on Tuesday, November 12th.

Granite Point Mortgage Trust Trading Up 3.0 %

GPMT opened at $3.58 on Thursday. The company has a fifty day moving average price of $3.12 and a two-hundred day moving average price of $2.99. Granite Point Mortgage Trust Inc. has a 1-year low of $2.46 and a 1-year high of $6.41. The company has a market cap of $178.61 million, a P/E ratio of -0.90 and a beta of 1.79.

Granite Point Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date was Tuesday, October 1st. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is currently -5.18%.

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.