The Manufacturers Life Insurance Company Has $70,000 Stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

The Manufacturers Life Insurance Company grew its position in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 25.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,684 shares of the company’s stock after acquiring an additional 4,807 shares during the period. The Manufacturers Life Insurance Company’s holdings in Granite Point Mortgage Trust were worth $70,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GPMT. Jacobs Levy Equity Management Inc. increased its holdings in Granite Point Mortgage Trust by 115.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 209,802 shares of the company’s stock valued at $1,001,000 after purchasing an additional 112,523 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of Granite Point Mortgage Trust by 293.0% in the first quarter. GSA Capital Partners LLP now owns 93,540 shares of the company’s stock valued at $446,000 after buying an additional 69,741 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Granite Point Mortgage Trust by 2.6% in the first quarter. Acadian Asset Management LLC now owns 1,323,871 shares of the company’s stock valued at $6,314,000 after buying an additional 33,474 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Granite Point Mortgage Trust in the second quarter valued at about $78,000. Finally, Public Employees Retirement System of Ohio lifted its position in Granite Point Mortgage Trust by 71.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 56,189 shares of the company’s stock worth $268,000 after buying an additional 23,405 shares in the last quarter. 51.63% of the stock is owned by institutional investors and hedge funds.

Granite Point Mortgage Trust Stock Performance

Shares of GPMT opened at $3.16 on Monday. The business’s fifty day moving average price is $2.81 and its two-hundred day moving average price is $3.21. The firm has a market capitalization of $161.27 million, a price-to-earnings ratio of -1.37 and a beta of 1.79. Granite Point Mortgage Trust Inc. has a 52 week low of $2.46 and a 52 week high of $6.41.

Granite Point Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 6.33%. The ex-dividend date was Tuesday, October 1st. Granite Point Mortgage Trust’s dividend payout ratio is -8.66%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered their price objective on shares of Granite Point Mortgage Trust from $3.25 to $2.75 and set an “underperform” rating for the company in a research report on Monday, August 12th.

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.