Public Employees Retirement System of Ohio Trims Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Public Employees Retirement System of Ohio lessened its stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 15.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,428 shares of the company’s stock after selling 4,014 shares during the period. Public Employees Retirement System of Ohio’s holdings in Granite Point Mortgage Trust were worth $68,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC acquired a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter worth $506,000. Penserra Capital Management LLC lifted its position in Granite Point Mortgage Trust by 23.0% in the third quarter. Penserra Capital Management LLC now owns 318,670 shares of the company’s stock valued at $1,010,000 after purchasing an additional 59,520 shares during the period. Oak Thistle LLC purchased a new stake in Granite Point Mortgage Trust in the 2nd quarter valued at approximately $78,000. Jane Street Group LLC boosted its holdings in Granite Point Mortgage Trust by 28.3% in the 3rd quarter. Jane Street Group LLC now owns 110,362 shares of the company’s stock valued at $350,000 after purchasing an additional 24,313 shares in the last quarter. Finally, Bank of New York Mellon Corp increased 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 worth $549,000 after purchasing an additional 21,810 shares during the period. 51.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on GPMT shares. Keefe, Bruyette & Woods upgraded Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $3.00 to $3.25 in a research note on Tuesday, December 10th. UBS Group upped their price target on shares of 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.

Granite Point Mortgage Trust Price Performance

NYSE GPMT opened at $2.93 on Monday. The business has a 50 day moving average price of $3.23 and a 200 day moving average price of $3.00. The company has a market capitalization of $146.38 million, a P/E ratio of -0.76 and a beta of 1.83. Granite Point Mortgage Trust Inc. has a 1-year low of $2.46 and a 1-year high of $6.41.

Granite Point Mortgage Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 6.83%. The ex-dividend date is Tuesday, December 31st. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently -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.