Granite Point Mortgage Trust (NYSE:GPMT) Receives Market Perform Rating from JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Granite Point Mortgage Trust (NYSE:GPMT) in a research report sent to investors on Friday morning,Benzinga reports.

GPMT has been the topic of several other reports. UBS Group upped their price objective on shares of Granite Point Mortgage Trust from $3.50 to $4.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods upgraded Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and increased their target price for the company from $3.00 to $3.25 in a report on Tuesday, December 10th.

Granite Point Mortgage Trust Trading Down 1.8 %

Granite Point Mortgage Trust stock opened at $2.69 on Friday. The firm has a market capitalization of $134.39 million, a PE ratio of -0.70 and a beta of 1.86. Granite Point Mortgage Trust has a 1-year low of $2.46 and a 1-year high of $6.13. The firm’s 50 day simple moving average is $3.17 and its 200 day simple moving average is $2.98.

Granite Point Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date of this dividend is Tuesday, December 31st. Granite Point Mortgage Trust’s payout ratio is -5.18%.

Institutional Trading of Granite Point Mortgage Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC grew its stake in shares of Granite Point Mortgage Trust by 8.7% in the second quarter. Hsbc Holdings PLC now owns 59,938 shares of the company’s stock worth $170,000 after acquiring an additional 4,805 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Granite Point Mortgage Trust by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,684 shares of the company’s stock worth $70,000 after acquiring an additional 4,807 shares in the last quarter. FMR LLC lifted its holdings in shares of Granite Point Mortgage Trust by 237.2% in the 3rd quarter. FMR LLC now owns 8,296 shares of the company’s stock valued at $26,000 after acquiring an additional 5,836 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Granite Point Mortgage Trust by 25.7% during the third quarter. GSA Capital Partners LLP now owns 54,223 shares of the company’s stock worth $172,000 after buying an additional 11,101 shares during the period. Finally, Sei Investments Co. lifted its stake in Granite Point Mortgage Trust by 29.8% in the second quarter. Sei Investments Co. now owns 52,725 shares of the company’s stock worth $157,000 after purchasing an additional 12,100 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors.

Granite Point Mortgage Trust Company 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.