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

JPMorgan Chase & Co. grew its holdings in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) by 121.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 281,251 shares of the company's stock after acquiring an additional 154,202 shares during the period. JPMorgan Chase & Co. owned about 0.56% of Granite Point Mortgage Trust worth $892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wolverine Asset Management LLC purchased a new position in Granite Point Mortgage Trust in the third quarter valued at about $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 valued at $367,000 after buying an additional 45,323 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Granite Point Mortgage Trust by 25.7% during the third quarter. GSA Capital Partners LLP now owns 54,223 shares of the company's stock worth $172,000 after buying an additional 11,101 shares in the last quarter. FMR LLC increased its stake in shares of Granite Point Mortgage Trust by 237.2% in the third quarter. FMR LLC now owns 8,296 shares of the company's stock worth $26,000 after buying an additional 5,836 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in Granite Point Mortgage Trust by 28.3% in the third quarter. Jane Street Group LLC now owns 110,362 shares of the company's stock valued at $350,000 after acquiring an additional 24,313 shares in the last quarter. 51.63% of the stock is owned by hedge funds and other institutional investors.

Granite Point Mortgage Trust Price Performance

Shares of NYSE:GPMT traded up $0.03 during trading on Friday, reaching $2.90. 163,881 shares of the company's stock traded hands, compared to its average volume of 385,366. The company has a 50 day moving average of $3.11 and a 200-day moving average of $2.98. Granite Point Mortgage Trust Inc. has a 12 month low of $2.46 and a 12 month high of $6.13. The stock has a market capitalization of $144.63 million, a P/E ratio of -0.75 and a beta of 1.86.

Granite Point Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 6.91%. The ex-dividend date was Tuesday, December 31st. Granite Point Mortgage Trust's dividend payout ratio (DPR) is -5.18%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GPMT. Keefe, Bruyette & Woods raised shares of Granite Point Mortgage Trust from an "underperform" rating to a "market perform" rating and raised their price objective for the stock from $3.00 to $3.25 in a report on Tuesday, December 10th. UBS Group lifted their price target on Granite Point Mortgage Trust from $3.50 to $4.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, JMP Securities restated a "market perform" rating on shares of Granite Point Mortgage Trust in a research note on Friday, January 10th.

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.