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

Jacobs Levy Equity Management Inc. lowered its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 20.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,804 shares of the company’s stock after selling 22,181 shares during the period. Jacobs Levy Equity Management Inc. owned 0.17% of Granite Point Mortgage Trust worth $269,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in 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 buying an additional 3,336 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of 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 purchasing an additional 4,805 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Granite Point Mortgage Trust by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,684 shares of the company’s stock worth $70,000 after purchasing an additional 4,807 shares during the period. FMR LLC raised its holdings in shares of Granite Point Mortgage Trust by 237.2% in the 3rd quarter. FMR LLC now owns 8,296 shares of the company’s stock worth $26,000 after purchasing an additional 5,836 shares during the period. Finally, Naviter Wealth LLC raised its holdings 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 purchasing an additional 7,500 shares during the period. 51.63% of the stock is owned by institutional investors and hedge funds.

Granite Point Mortgage Trust Stock Up 3.3 %

GPMT stock opened at $3.44 on Wednesday. Granite Point Mortgage Trust Inc. has a 52-week low of $2.46 and a 52-week high of $6.41. The stock’s 50 day moving average is $3.18 and its two-hundred day moving average is $2.99. The company 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders 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 yield of 5.81%. Granite Point Mortgage Trust’s dividend payout ratio is presently -5.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GPMT shares. UBS Group raised their price objective 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 upgraded Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and raised their target price for the company from $3.00 to $3.25 in a report on Tuesday.

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.