Wolverine Asset Management LLC Buys New Holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Wolverine Asset Management LLC purchased a new position in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 159,739 shares of the company’s stock, valued at approximately $506,000.

A number of other hedge funds also recently made changes to their positions in GPMT. Price T Rowe Associates Inc. MD raised its stake in Granite Point Mortgage Trust by 2.9% during the first 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. Hsbc Holdings PLC grew 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 last quarter. The Manufacturers Life Insurance Company increased its position in shares of Granite Point Mortgage Trust by 25.5% during 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 in the last quarter. Naviter Wealth LLC lifted its holdings in Granite Point Mortgage Trust by 53.6% during the 2nd quarter. Naviter Wealth LLC now owns 21,500 shares of the company’s stock valued at $64,000 after purchasing an additional 7,500 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Granite Point Mortgage Trust by 35.6% during the first quarter. BNP Paribas Financial Markets now owns 32,360 shares of the company’s stock worth $154,000 after buying an additional 8,490 shares during the last quarter. Institutional investors and hedge funds own 51.63% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted 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.

Granite Point Mortgage Trust Stock Up 2.9 %

Shares of NYSE GPMT opened at $3.37 on Thursday. Granite Point Mortgage Trust Inc. has a 12-month low of $2.46 and a 12-month high of $6.41. The firm’s 50-day simple moving average is $2.99 and its 200 day simple moving average is $3.04. The company has a market cap of $168.12 million, a price-to-earnings ratio of -0.87 and a beta of 1.79.

Granite Point Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 5.94%. The ex-dividend date was Tuesday, October 1st. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -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.