Rhumbline Advisers Has $262,000 Stock Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Rhumbline Advisers decreased its holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 12.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,193 shares of the company’s stock after selling 13,002 shares during the quarter. Rhumbline Advisers’ holdings in Granite Point Mortgage Trust were worth $262,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in GPMT. Charles Schwab Investment Management Inc. lifted its holdings in shares of Granite Point Mortgage Trust by 21.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,022,855 shares of the company’s stock worth $6,076,000 after purchasing an additional 181,062 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Granite Point Mortgage Trust by 33.3% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 20,000 shares of the company’s stock valued at $119,000 after buying an additional 5,000 shares during the last quarter. Palogic Value Management L.P. grew its holdings in Granite Point Mortgage Trust by 5.3% during the fourth quarter. Palogic Value Management L.P. now owns 239,392 shares of the company’s stock worth $1,422,000 after buying an additional 12,000 shares in the last quarter. Sierra Summit Advisors LLC purchased a new stake in shares of Granite Point Mortgage Trust in the fourth quarter valued at about $126,000. Finally, Quadrature Capital Ltd increased its position in shares of Granite Point Mortgage Trust by 106.6% during the fourth quarter. Quadrature Capital Ltd now owns 24,757 shares of the company’s stock valued at $147,000 after acquiring an additional 12,772 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors.

Granite Point Mortgage Trust Price Performance

Shares of GPMT stock opened at $3.19 on Friday. Granite Point Mortgage Trust Inc. has a 1-year low of $2.46 and a 1-year high of $6.41. The business has a 50-day moving average of $2.78 and a 200 day moving average of $3.39. The stock has a market capitalization of $162.80 million, a PE ratio of -1.38 and a beta of 1.78.

Granite Point Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 6.27%. The ex-dividend date of this dividend is Tuesday, October 1st. Granite Point Mortgage Trust’s dividend payout ratio is currently -8.66%.

Analysts Set New Price Targets

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

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.