Barclays PLC Has $367,000 Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Barclays PLC raised its holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 64.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 115,750 shares of the company’s stock after buying an additional 45,323 shares during the period. Barclays PLC owned 0.23% of Granite Point Mortgage Trust worth $367,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Penserra Capital Management LLC increased its stake in Granite Point Mortgage Trust by 23.0% in the 3rd quarter. Penserra Capital Management LLC now owns 318,670 shares of the company’s stock valued at $1,010,000 after buying an additional 59,520 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Granite Point Mortgage Trust by 13.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,943 shares of the company’s stock valued at $549,000 after buying an additional 21,810 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in Granite Point Mortgage Trust in the 3rd quarter valued at $506,000. Jane Street Group LLC increased its stake in Granite Point Mortgage Trust by 28.3% in the 3rd quarter. Jane Street Group LLC now owns 110,362 shares of the company’s stock valued at $350,000 after buying an additional 24,313 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in Granite Point Mortgage Trust by 8.7% in the 2nd quarter. Hsbc Holdings PLC now owns 59,938 shares of the company’s stock valued at $170,000 after buying an additional 4,805 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GPMT. Keefe, Bruyette & Woods raised shares of Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $3.00 to $3.25 in a research report on Tuesday, December 10th. UBS Group lifted their price objective on shares of Granite Point Mortgage Trust from $3.50 to $4.00 and gave the company a “buy” rating in a research report on Friday, November 15th.

Granite Point Mortgage Trust Price Performance

Shares of GPMT opened at $2.85 on Friday. The firm has a 50-day moving average of $3.19 and a 200-day moving average of $2.98. Granite Point Mortgage Trust Inc. has a one year low of $2.46 and a one year high of $6.13. The company has a market cap of $142.38 million, a PE ratio of -0.74 and a beta of 1.86.

Granite Point Mortgage Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 7.02%. The ex-dividend date of this dividend is Tuesday, December 31st. Granite Point Mortgage Trust’s payout ratio 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.