New York State Common Retirement Fund Cuts Holdings in Granite Point Mortgage Trust Inc (GPMT)

New York State Common Retirement Fund cut its holdings in shares of Granite Point Mortgage Trust Inc (NYSE:GPMT) by 21.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,244 shares of the company’s stock after selling 15,600 shares during the period. New York State Common Retirement Fund’s holdings in Granite Point Mortgage Trust were worth $947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GPMT. Schwab Charles Investment Management Inc. lifted its position in Granite Point Mortgage Trust by 374.3% during 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 during the period. Teacher Retirement System of Texas acquired a new position in Granite Point Mortgage Trust during the 4th quarter valued at about $263,000. California Public Employees Retirement System acquired a new position in Granite Point Mortgage Trust during the 4th quarter valued at about $1,040,000. Swiss National Bank acquired a new position in Granite Point Mortgage Trust during the 4th quarter valued at about $1,305,000. Finally, Wells Fargo & Company MN lifted its position in Granite Point Mortgage Trust by 667.4% during the 4th quarter. Wells Fargo & Company MN now owns 181,298 shares of the company’s stock valued at $3,216,000 after purchasing an additional 157,672 shares during the period. Institutional investors own 67.62% of the company’s stock.

GPMT has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Granite Point Mortgage Trust from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 11th. Raymond James initiated coverage on shares of Granite Point Mortgage Trust in a research report on Tuesday, March 27th. They issued a “strong-buy” rating and a $21.00 price target on the stock. Finally, Citigroup initiated coverage on shares of Granite Point Mortgage Trust in a research report on Tuesday, March 27th. They issued a “neutral” rating and a $19.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $19.69.

In related news, COO Steven Plust bought 5,767 shares of the company’s stock in a transaction on Tuesday, May 15th. The shares were purchased at an average cost of $17.85 per share, for a total transaction of $102,940.95. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Marcin Urbaszek bought 2,500 shares of the company’s stock in a transaction on Thursday, May 24th. The shares were bought at an average price of $18.34 per share, for a total transaction of $45,850.00. The disclosure for this purchase can be found here. Insiders purchased a total of 11,067 shares of company stock worth $200,227 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Shares of NYSE:GPMT opened at $18.35 on Friday. The company has a market capitalization of $806.32 million and a P/E ratio of 19.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 16.04 and a current ratio of 16.04. Granite Point Mortgage Trust Inc has a fifty-two week low of $16.15 and a fifty-two week high of $19.30.

Granite Point Mortgage Trust (NYSE:GPMT) last announced its quarterly earnings results on Wednesday, May 9th. The company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $39.98 million for the quarter, compared to the consensus estimate of $22.96 million. Granite Point Mortgage Trust had a net margin of 40.63% and a return on equity of 6.74%. analysts forecast that Granite Point Mortgage Trust Inc will post 1.64 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 18th. Investors of record on Monday, July 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.72%. This is an increase from Granite Point Mortgage Trust’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, June 29th.

Granite Point Mortgage Trust Company Profile

Granite Point Mortgage Trust Inc 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. As of December 31, 2017, its investment portfolio includes 61 commercial real estate debt investments.

Want to see what other hedge funds are holding GPMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Granite Point Mortgage Trust Inc (NYSE:GPMT).

Institutional Ownership by Quarter for Granite Point Mortgage Trust (NYSE:GPMT)

Receive News & Ratings for Granite Point Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Point Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply