Strs Ohio increased its stake in shares of Granite Point Mortgage Trust Inc (NYSE:GPMT) by 324.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,300 shares of the company’s stock after purchasing an additional 9,400 shares during the period. Strs Ohio’s holdings in Granite Point Mortgage Trust were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in GPMT. American Century Companies Inc. acquired a new stake in Granite Point Mortgage Trust during the 3rd quarter worth approximately $4,589,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Granite Point Mortgage Trust by 374.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 196,512 shares of the company’s stock valued at $3,487,000 after purchasing an additional 155,084 shares in the last quarter. KAMES CAPITAL plc purchased a new position in shares of Granite Point Mortgage Trust in the 4th quarter valued at $3,009,000. Bank of New York Mellon Corp purchased a new position in shares of Granite Point Mortgage Trust in the 3rd quarter valued at $552,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Granite Point Mortgage Trust in the 3rd quarter valued at $515,000. 42.15% of the stock is owned by institutional investors.
Granite Point Mortgage Trust Inc (NYSE GPMT) traded down $0.15 during trading hours on Tuesday, hitting $17.18. 108,824 shares of the stock were exchanged, compared to its average volume of 386,155. Granite Point Mortgage Trust Inc has a twelve month low of $16.15 and a twelve month high of $19.30.
Several analysts have recently weighed in on the stock. Bank of America lowered their target price on shares of Granite Point Mortgage Trust from $19.50 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, November 8th. Zacks Investment Research downgraded shares of Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a report on Monday, December 25th. Compass Point began coverage on shares of Granite Point Mortgage Trust in a research note on Friday, October 27th. They issued a “buy” rating and a $19.50 price objective for the company. Finally, Keefe, Bruyette & Woods upgraded shares of Granite Point Mortgage Trust from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock has an average 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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