Charles Schwab Investment Management Inc. Sells 225,408 Shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Charles Schwab Investment Management Inc. lessened its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 28.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 574,218 shares of the company’s stock after selling 225,408 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.15% of Granite Point Mortgage Trust worth $1,602,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wolverine Asset Management LLC raised its stake in shares of Granite Point Mortgage Trust by 209.2% during the 4th quarter. Wolverine Asset Management LLC now owns 493,848 shares of the company’s stock worth $1,378,000 after acquiring an additional 334,109 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Granite Point Mortgage Trust by 121.4% during the third quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company’s stock worth $892,000 after purchasing an additional 154,202 shares in the last quarter. Barclays PLC lifted its holdings 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 valued at $367,000 after purchasing an additional 45,323 shares during the last quarter. Jane Street Group LLC boosted its position 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 purchasing an additional 24,313 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Granite Point Mortgage Trust by 33.1% during the 4th quarter. SG Americas Securities LLC now owns 27,647 shares of the company’s stock worth $77,000 after buying an additional 6,878 shares during the last quarter. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GPMT shares. JMP Securities reissued a “market perform” rating on shares of Granite Point Mortgage Trust in a report on Tuesday, February 18th. Keefe, Bruyette & Woods upgraded shares of Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $3.00 to $3.25 in a research note on Tuesday, December 10th. Finally, UBS Group cut their price target on shares of Granite Point Mortgage Trust from $3.75 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, February 25th.

Insider Activity at Granite Point Mortgage Trust

In related news, Director Patrick Gregory Halter purchased 34,001 shares of Granite Point Mortgage Trust stock in a transaction that occurred on Tuesday, February 25th. The stock was bought at an average cost of $2.80 per share, for a total transaction of $95,202.80. Following the completion of the transaction, the director now owns 34,001 shares in the company, valued at $95,202.80. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders acquired 34,770 shares of company stock worth $108,849 over the last three months. Company insiders own 2.30% of the company’s stock.

Granite Point Mortgage Trust Stock Performance

Granite Point Mortgage Trust stock opened at $2.63 on Friday. The business’s 50-day simple moving average is $2.87 and its two-hundred day simple moving average is $3.00. The company has a market cap of $128.58 million, a PE ratio of -0.60 and a beta of 1.89. Granite Point Mortgage Trust Inc. has a fifty-two week low of $2.46 and a fifty-two week high of $4.74.

Granite Point Mortgage Trust (NYSE:GPMT) last issued its earnings results on Thursday, February 13th. The company reported ($1.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($1.26). Granite Point Mortgage Trust had a negative net margin of 111.59% and a negative return on equity of 14.08%. The firm had revenue of $7.57 million during the quarter, compared to analysts’ expectations of $7.90 million. As a group, analysts predict that Granite Point Mortgage Trust Inc. will post -2.75 EPS for the current fiscal year.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.20 annualized dividend and a dividend yield of 7.60%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -4.56%.

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.