Strs Ohio increased its holdings in shares of Granite Point Mortgage Trust Inc (NYSE:GPMT) by 324.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,300 shares of the company’s stock after buying an additional 9,400 shares during the quarter. Strs Ohio’s holdings in Granite Point Mortgage Trust were worth $218,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of GPMT. Wells Fargo & Company MN acquired a new stake in Granite Point Mortgage Trust during the 2nd quarter worth $393,000. American Century Companies Inc. bought a new position in Granite Point Mortgage Trust during the 3rd quarter worth about $4,589,000. IndexIQ Advisors LLC bought a new position in Granite Point Mortgage Trust during the 3rd quarter worth about $220,000. Sei Investments Co. bought a new position in Granite Point Mortgage Trust during the 3rd quarter worth about $225,000. Finally, Bank of New York Mellon Corp bought a new position in Granite Point Mortgage Trust during the 3rd quarter worth about $552,000. 25.92% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Brian Taylor acquired 5,600 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of $17.87 per share, for a total transaction of $100,072.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link.
Granite Point Mortgage Trust Inc (GPMT) opened at $16.74 on Tuesday. Granite Point Mortgage Trust Inc has a 1-year low of $16.15 and a 1-year high of $19.30.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Friday, December 29th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.08%. The ex-dividend date of this dividend was Thursday, December 28th.
A number of equities analysts have issued reports on GPMT shares. Bank of America lowered their target price on Granite Point Mortgage Trust from $19.50 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. Zacks Investment Research cut Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a report on Monday, December 25th. Compass Point began coverage on Granite Point Mortgage Trust in a report on Friday, October 27th. They issued a “buy” rating and a $19.50 price objective for the company. Finally, Keefe, Bruyette & Woods upgraded Granite Point Mortgage Trust from a “market perform” rating to an “outperform” rating in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.58.
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Granite Point Mortgage Trust Profile
Granite Point Mortgage Trust Inc is focused primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt, such as commercial real estate investments. The Company formed to continue and expand the commercial real estate lending business. The Company is a long-term, fundamental value-oriented investor.
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