Jane Street Group LLC Has $350,000 Stock Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Jane Street Group LLC raised its stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 28.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 110,362 shares of the company’s stock after buying an additional 24,313 shares during the quarter. Jane Street Group LLC owned about 0.22% of Granite Point Mortgage Trust worth $350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GPMT. Wolverine Asset Management LLC acquired a new stake in Granite Point Mortgage Trust during the 3rd quarter valued at $506,000. Penserra Capital Management LLC grew its stake in shares of Granite Point Mortgage Trust by 23.0% in the third quarter. Penserra Capital Management LLC now owns 318,670 shares of the company’s stock valued at $1,010,000 after acquiring an additional 59,520 shares in the last quarter. Oak Thistle LLC acquired a new stake in Granite Point Mortgage Trust in the 2nd quarter worth about $78,000. Bank of New York Mellon Corp boosted its holdings 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 purchasing an additional 21,810 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Granite Point Mortgage Trust during the 3rd quarter worth approximately $66,000. Institutional investors and hedge funds own 51.63% of the company’s stock.

Wall Street Analyst Weigh In

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

Granite Point Mortgage Trust Price Performance

GPMT opened at $2.74 on Thursday. Granite Point Mortgage Trust Inc. has a fifty-two week low of $2.46 and a fifty-two week high of $6.13. The company’s 50 day moving average price is $3.18 and its two-hundred day moving average price is $2.98. The firm has a market capitalization of $136.88 million, a price-to-earnings ratio of -0.71 and a beta of 1.86.

Granite Point Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date is Tuesday, December 31st. Granite Point Mortgage Trust’s dividend payout ratio is currently -5.18%.

About Granite Point Mortgage Trust

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.