Granite Point Mortgage Trust Inc. (NYSE:GPMT) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 13.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 799,626 shares of the company’s stock after selling 121,631 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Granite Point Mortgage Trust were worth $2,535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in Granite Point Mortgage Trust by 13.4% during the second quarter. Bank of New York Mellon Corp now owns 184,943 shares of the company’s stock valued at $549,000 after purchasing an additional 21,810 shares during the period. Naviter Wealth LLC grew its stake 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 valued at $64,000 after buying an additional 7,500 shares during the period. Oak Thistle LLC acquired a new position in shares of Granite Point Mortgage Trust in the 2nd quarter worth approximately $78,000. Hsbc Holdings PLC lifted its holdings in Granite Point Mortgage Trust by 8.7% during the 2nd quarter. Hsbc Holdings PLC now owns 59,938 shares of the company’s stock worth $170,000 after buying an additional 4,805 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Granite Point Mortgage Trust by 29.8% in the 2nd quarter. Sei Investments Co. now owns 52,725 shares of the company’s stock valued at $157,000 after purchasing an additional 12,100 shares in the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Granite Point Mortgage Trust Trading Down 1.8 %

NYSE GPMT opened at $3.36 on Monday. The company’s fifty day simple moving average is $3.21 and its 200-day simple moving average is $3.00. Granite Point Mortgage Trust Inc. has a 52 week low of $2.46 and a 52 week high of $6.41. The stock has a market cap of $167.87 million, a P/E ratio of -0.87 and a beta of 1.83.

Granite Point Mortgage Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.05 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.95%. Granite Point Mortgage Trust’s payout ratio is currently -5.18%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods raised shares of Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and increased their target price for the company from $3.00 to $3.25 in a research report on Tuesday, December 10th. UBS Group raised their price objective on shares of Granite Point Mortgage Trust from $3.50 to $4.00 and gave the company a “buy” rating in a research note on Friday, November 15th.

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.