Andesa Financial Management Inc. Increases Holdings in Granite Point Mortgage Trust Inc (GPMT)

Andesa Financial Management Inc. raised its position in Granite Point Mortgage Trust Inc (NYSE:GPMT) by 16.0% during the third quarter, HoldingsChannel reports. The firm owned 47,395 shares of the company’s stock after purchasing an additional 6,525 shares during the period. Andesa Financial Management Inc.’s holdings in Granite Point Mortgage Trust were worth $911,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GPMT. Acadian Asset Management LLC lifted its holdings in Granite Point Mortgage Trust by 698.8% in the 3rd quarter. Acadian Asset Management LLC now owns 377,298 shares of the company’s stock valued at $7,278,000 after purchasing an additional 330,067 shares in the last quarter. KAMES CAPITAL plc lifted its holdings in Granite Point Mortgage Trust by 87.0% in the 2nd quarter. KAMES CAPITAL plc now owns 680,395 shares of the company’s stock valued at $12,472,000 after purchasing an additional 316,615 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Granite Point Mortgage Trust by 1,219.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 315,374 shares of the company’s stock valued at $242,000 after purchasing an additional 291,468 shares in the last quarter. BlackRock Inc. lifted its holdings in Granite Point Mortgage Trust by 3.6% in the 2nd quarter. BlackRock Inc. now owns 3,838,636 shares of the company’s stock valued at $70,439,000 after purchasing an additional 131,824 shares in the last quarter. Finally, Standard Life Aberdeen plc purchased a new position in Granite Point Mortgage Trust in the 2nd quarter valued at $2,080,000. Institutional investors own 65.06% of the company’s stock.

NYSE GPMT opened at $18.62 on Friday. Granite Point Mortgage Trust Inc has a 52 week low of $16.15 and a 52 week high of $19.33. The company has a debt-to-equity ratio of 0.96, a quick ratio of 35.46 and a current ratio of 35.46. The firm has a market cap of $809.15 million, a PE ratio of 14.21, a P/E/G ratio of 0.56 and a beta of 0.15.

Granite Point Mortgage Trust (NYSE:GPMT) last posted its quarterly earnings results on Monday, August 6th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. Granite Point Mortgage Trust had a return on equity of 6.87% and a net margin of 36.50%. The business had revenue of $22.84 million for the quarter, compared to analyst estimates of $41.20 million. Sell-side analysts expect that Granite Point Mortgage Trust Inc will post 1.53 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Stockholders of record on Tuesday, October 2nd were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 9.02%. The ex-dividend date of this dividend was Monday, October 1st. This is a positive change from Granite Point Mortgage Trust’s previous quarterly dividend of $0.40.

Several research analysts have recently commented on the company. Zacks Investment Research lowered Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. JPMorgan Chase & Co. lifted their price target on Granite Point Mortgage Trust from $18.00 to $19.00 and gave the stock a “$18.48” rating in a report on Monday, July 23rd. Keefe, Bruyette & Woods lowered Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a report on Monday, July 30th. They noted that the move was a valuation call. Compass Point reiterated a “buy” rating and set a $20.00 price target on shares of Granite Point Mortgage Trust in a report on Tuesday, August 7th. Finally, BTIG Research assumed coverage on Granite Point Mortgage Trust in a report on Monday, October 8th. They set a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $19.75.

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.

Featured Article: Institutional Investors

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)

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