Granite Point Mortgage Trust Inc. (NYSE:GPMT) Stock Holdings Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 121.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 281,251 shares of the company’s stock after purchasing an additional 154,202 shares during the quarter. JPMorgan Chase & Co. owned about 0.56% of Granite Point Mortgage Trust worth $892,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GPMT. Penserra Capital Management LLC lifted its stake in Granite Point Mortgage Trust by 23.0% during the third quarter. Penserra Capital Management LLC now owns 318,670 shares of the company’s stock valued at $1,010,000 after purchasing an additional 59,520 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Granite Point Mortgage Trust during the 3rd quarter valued at $506,000. Barclays PLC boosted its stake in shares of Granite Point Mortgage Trust by 64.4% during the 3rd quarter. Barclays PLC now owns 115,750 shares of the company’s stock worth $367,000 after acquiring an additional 45,323 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of 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 worth $350,000 after acquiring an additional 24,313 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Granite Point Mortgage Trust by 8.7% during the second quarter. Hsbc Holdings PLC now owns 59,938 shares of the company’s stock worth $170,000 after purchasing an additional 4,805 shares during the period. 51.63% of the stock is currently owned by institutional investors.

Granite Point Mortgage Trust Stock Performance

Shares of GPMT opened at $2.90 on Friday. Granite Point Mortgage Trust Inc. has a twelve month low of $2.46 and a twelve month high of $6.13. The firm’s 50 day moving average price is $3.11 and its 200 day moving average price is $2.98. The firm has a market cap of $144.63 million, a PE ratio of -0.75 and a beta of 1.86.

Granite Point Mortgage Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.05 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.91%. Granite Point Mortgage Trust’s dividend payout ratio is currently -5.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GPMT shares. Keefe, Bruyette & Woods raised 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. JMP Securities reissued a “market perform” rating on shares of Granite Point Mortgage Trust in a research report on Friday, January 10th. Finally, UBS Group raised their target price on 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.

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.