Granite Point Mortgage Trust Inc. (NYSE:GPMT) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 8.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,938 shares of the company’s stock after purchasing an additional 4,805 shares during the period. Hsbc Holdings PLC owned about 0.12% of Granite Point Mortgage Trust worth $170,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Westend Capital Management LLC purchased a new stake in shares of Granite Point Mortgage Trust during the first quarter worth about $43,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Granite Point Mortgage Trust during the 1st quarter worth $55,000. Naviter Wealth LLC grew its position in shares of Granite Point Mortgage Trust by 53.6% in the second quarter. Naviter Wealth LLC now owns 21,500 shares of the company’s stock valued at $64,000 after purchasing an additional 7,500 shares during the period. Warther Private Wealth LLC acquired a new position in Granite Point Mortgage Trust in the second quarter valued at $65,000. Finally, Oak Thistle LLC purchased a new position in Granite Point Mortgage Trust during the second quarter worth about $78,000. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods cut their price objective on shares of Granite Point Mortgage Trust from $3.25 to $2.75 and set an “underperform” rating on the stock in a report on Monday, August 12th.

Granite Point Mortgage Trust Price Performance

Granite Point Mortgage Trust stock opened at $3.02 on Friday. Granite Point Mortgage Trust Inc. has a 12 month low of $2.46 and a 12 month high of $6.41. The company has a market cap of $154.13 million, a price-to-earnings ratio of -1.31 and a beta of 1.79. The stock’s 50-day moving average is $2.77 and its 200-day moving average is $3.33.

Granite Point Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 6.62%. The ex-dividend date is Tuesday, October 1st. Granite Point Mortgage Trust’s payout ratio is currently -8.66%.

Granite Point Mortgage Trust Company 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.