Wolverine Asset Management LLC Takes Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Wolverine Asset Management LLC acquired a new position in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 159,739 shares of the company's stock, valued at approximately $506,000. Wolverine Asset Management LLC owned 0.32% of Granite Point Mortgage Trust as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GPMT. B. Riley Wealth Advisors Inc. acquired a new position in shares of Granite Point Mortgage Trust during the first quarter worth approximately $55,000. Naviter Wealth LLC boosted its holdings 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 buying an additional 7,500 shares during the period. Warther Private Wealth LLC acquired a new position in shares of Granite Point Mortgage Trust in the second quarter valued at approximately $65,000. SG Americas Securities LLC acquired a new position in shares of Granite Point Mortgage Trust in the third quarter valued at approximately $66,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Granite Point Mortgage Trust by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 23,684 shares of the company's stock valued at $70,000 after buying an additional 4,807 shares during the period. Institutional investors own 51.63% of the company's stock.

Granite Point Mortgage Trust Stock Performance

Shares of GPMT remained flat at $3.36 during trading hours on Thursday. 453,985 shares of the stock traded hands, compared to its average volume of 431,380. The stock has a market capitalization of $167.62 million, a price-to-earnings ratio of -0.87 and a beta of 1.79. The stock has a 50 day moving average price of $3.00 and a two-hundred day moving average price of $3.04. Granite Point Mortgage Trust Inc. has a 52 week low of $2.46 and a 52 week high of $6.41.

Granite Point Mortgage Trust Dividend Announcement

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 annualized dividend and a yield of 5.96%. The ex-dividend date was Tuesday, October 1st. Granite Point Mortgage Trust's dividend payout ratio is currently -5.18%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped 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 report on Tuesday.

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.