Hotchkis & Wiley Capital Management LLC Trims Stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Hotchkis & Wiley Capital Management LLC decreased its position in Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) by 14.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,330,347 shares of the company's stock after selling 217,515 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 2.66% of Granite Point Mortgage Trust worth $4,217,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Granite Point Mortgage Trust by 2.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 118,793 shares of the company's stock valued at $567,000 after acquiring an additional 3,336 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Granite Point Mortgage Trust in the first quarter worth about $55,000. Abundance Wealth Counselors lifted its holdings in Granite Point Mortgage Trust by 28.5% in the second quarter. Abundance Wealth Counselors now owns 69,165 shares of the company's stock worth $205,000 after buying an additional 15,349 shares during the period. Bank of New York Mellon Corp boosted its position in Granite Point Mortgage Trust by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 184,943 shares of the company's stock valued at $549,000 after acquiring an additional 21,810 shares in the last quarter. Finally, Naviter Wealth LLC raised its position in shares of Granite Point Mortgage Trust by 53.6% in the 2nd quarter. Naviter Wealth LLC now owns 21,500 shares of the company's stock worth $64,000 after acquiring an additional 7,500 shares in the last quarter. 51.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GPMT has been the topic of several research reports. UBS Group lifted their price target on Granite Point Mortgage Trust from $3.50 to $4.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods lifted their price target on shares of Granite Point Mortgage Trust from $2.75 to $3.00 and gave the company an "underperform" rating in a research report on Tuesday, November 12th.

Granite Point Mortgage Trust Trading Up 1.7 %

GPMT stock traded up $0.05 on Friday, hitting $3.30. The company had a trading volume of 333,834 shares, compared to its average volume of 429,948. The stock has a market cap of $164.62 million, a price-to-earnings ratio of -0.84 and a beta of 1.83. The stock's 50-day simple moving average is $3.17 and its 200 day simple moving average is $3.00. Granite Point Mortgage Trust Inc. has a 12-month low of $2.46 and a 12-month high of $6.41.

Granite Point Mortgage Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date was Tuesday, October 1st. Granite Point Mortgage Trust's dividend payout ratio is -5.18%.

About Granite Point Mortgage Trust

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.