Bank of New York Mellon Corp Has $549,000 Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Bank of New York Mellon Corp grew its holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 13.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 184,943 shares of the company’s stock after buying an additional 21,810 shares during the quarter. Bank of New York Mellon Corp owned 0.36% of Granite Point Mortgage Trust worth $549,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Westend Capital Management LLC acquired a new stake in Granite Point Mortgage Trust in the 1st quarter valued at $43,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Granite Point Mortgage Trust in the 1st quarter valued at $55,000. Warther Private Wealth LLC bought a new stake in shares of Granite Point Mortgage Trust in the 2nd quarter worth about $65,000. Naviter Wealth LLC acquired a new stake in shares of Granite Point Mortgage Trust during the 1st quarter worth about $69,000. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in Granite Point Mortgage Trust by 33.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 20,000 shares of the company’s stock valued at $119,000 after purchasing an additional 5,000 shares during the last quarter. 51.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods dropped 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 report on Monday, August 12th.

Granite Point Mortgage Trust Stock Performance

Shares of NYSE:GPMT opened at $3.16 on Tuesday. The business has a fifty day moving average of $2.77 and a 200-day moving average of $3.43. Granite Point Mortgage Trust Inc. has a twelve month low of $2.46 and a twelve month high of $6.41. The firm has a market cap of $161.27 million, a PE ratio of -1.37 and a beta of 1.78.

Granite Point Mortgage Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.33%. Granite Point Mortgage Trust’s payout ratio is -8.66%.

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.