Granite Point Mortgage Trust Inc. (NYSE:GPMT) Shares Sold by Abundance Wealth Counselors

Abundance Wealth Counselors decreased its position in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 6.7% during the 4th quarter, Holdings Channel reports. The fund owned 85,259 shares of the company’s stock after selling 6,104 shares during the quarter. Abundance Wealth Counselors’ holdings in Granite Point Mortgage Trust were worth $238,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its holdings in Granite Point Mortgage Trust by 237.2% in the third quarter. FMR LLC now owns 8,296 shares of the company’s stock valued at $26,000 after buying an additional 5,836 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Granite Point Mortgage Trust in the 3rd quarter valued at about $46,000. M&T Bank Corp acquired a new stake in shares of Granite Point Mortgage Trust during the 3rd quarter worth about $61,000. SG Americas Securities LLC purchased a new stake in Granite Point Mortgage Trust during the third quarter worth approximately $66,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Granite Point Mortgage Trust by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 23,684 shares of the company’s stock valued at $70,000 after purchasing an additional 4,807 shares in the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GPMT shares. Keefe, Bruyette & Woods upgraded shares of Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $3.00 to $3.25 in a research note on Tuesday, December 10th. UBS Group increased their target price on shares of Granite Point Mortgage Trust from $3.50 to $4.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Granite Point Mortgage Trust in a research report on Friday, January 10th.

Granite Point Mortgage Trust Stock Down 0.7 %

Shares of NYSE GPMT opened at $2.83 on Friday. Granite Point Mortgage Trust Inc. has a 12-month low of $2.46 and a 12-month high of $5.89. The firm’s 50-day moving average is $3.05 and its two-hundred day moving average is $2.97.

Granite Point Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.05 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.20 dividend on an annualized basis and a yield of 7.07%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is -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.