West Family Investments Inc. Has $2.27 Million Stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

West Family Investments Inc. lowered its position in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 0.9% in the first quarter, HoldingsChannel.com reports. The fund owned 189,653 shares of the company’s stock after selling 1,705 shares during the quarter. West Family Investments Inc.’s holdings in Granite Point Mortgage Trust were worth $2,270,000 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. ProShare Advisors LLC bought a new position in shares of Granite Point Mortgage Trust in the fourth quarter valued at about $131,000. Equitable Holdings Inc. bought a new position in shares of Granite Point Mortgage Trust in the fourth quarter worth about $166,000. Everence Capital Management Inc. acquired a new position in shares of Granite Point Mortgage Trust during the first quarter worth approximately $174,000. Samalin Investment Counsel LLC grew its stake in shares of Granite Point Mortgage Trust by 5.1% during the fourth quarter. Samalin Investment Counsel LLC now owns 24,527 shares of the company’s stock valued at $245,000 after purchasing an additional 1,200 shares during the last quarter. Finally, IndexIQ Advisors LLC grew its stake in shares of Granite Point Mortgage Trust by 8.3% during the first quarter. IndexIQ Advisors LLC now owns 21,402 shares of the company’s stock valued at $256,000 after purchasing an additional 1,649 shares during the last quarter. 62.47% of the stock is currently owned by institutional investors and hedge funds.

NYSE GPMT traded down $0.12 on Friday, reaching $15.05. The company had a trading volume of 741 shares, compared to its average volume of 437,774. Granite Point Mortgage Trust Inc. has a 52 week low of $5.52 and a 52 week high of $15.92. The company has a 50 day moving average of $13.43. The company has a market capitalization of $829.38 million, a PE ratio of 42.14 and a beta of 1.54.

The business also recently announced a quarterly dividend, which was paid on Monday, April 19th. Stockholders of record on Thursday, April 1st were given a dividend of $0.25 per share. This is a positive change from Granite Point Mortgage Trust’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 6.64%. The ex-dividend date was Wednesday, March 31st. Granite Point Mortgage Trust’s payout ratio is presently 91.74%.

In other news, CEO John A. Taylor purchased 9,000 shares of the business’s stock in a transaction that occurred on Monday, May 24th. The shares were acquired at an average cost of $14.21 per share, for a total transaction of $127,890.00. Corporate insiders own 2.00% of the company’s stock.

Several research analysts have issued reports on GPMT shares. JMP Securities upped their price objective on Granite Point Mortgage Trust from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, May 7th. Zacks Investment Research raised Granite Point Mortgage Trust from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research note on Friday, May 28th. Raymond James lifted their price objective on Granite Point Mortgage Trust from $13.50 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 18th. JPMorgan Chase & Co. boosted their price objective on Granite Point Mortgage Trust from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, April 26th. Finally, TheStreet raised shares of Granite Point Mortgage Trust from a “d+” rating to a “c” rating in a research note on Tuesday, May 11th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $14.60.

About Granite Point Mortgage Trust

Granite Point Mortgage Trust Inc 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. As of December 31, 2020, its investment portfolio includes 103 commercial real estate loan investments.

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Institutional Ownership by Quarter for Granite Point Mortgage Trust (NYSE:GPMT)

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