Jane Street Group LLC Buys 24,313 Shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Jane Street Group LLC grew its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 28.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 110,362 shares of the company’s stock after buying an additional 24,313 shares during the quarter. Jane Street Group LLC’s holdings in Granite Point Mortgage Trust were worth $350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in Granite Point Mortgage Trust by 13.4% in the 2nd 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. Oak Thistle LLC bought a new position in shares of Granite Point Mortgage Trust in the second quarter valued at $78,000. Hsbc Holdings PLC grew its holdings in shares of Granite Point Mortgage Trust by 8.7% during the second quarter. Hsbc Holdings PLC now owns 59,938 shares of the company’s stock valued at $170,000 after buying an additional 4,805 shares during the last quarter. Sei Investments Co. increased its position in shares of Granite Point Mortgage Trust by 29.8% during the second quarter. Sei Investments Co. now owns 52,725 shares of the company’s stock worth $157,000 after acquiring an additional 12,100 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Granite Point Mortgage Trust by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,684 shares of the company’s stock worth $70,000 after acquiring an additional 4,807 shares during the last quarter. Institutional investors own 51.63% of the company’s stock.

Wall Street Analysts Forecast Growth

GPMT has been the subject of several analyst reports. UBS Group increased their price objective on 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. Keefe, Bruyette & Woods raised Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and increased their price target for the company from $3.00 to $3.25 in a research report on Tuesday, December 10th.

Granite Point Mortgage Trust Stock Down 1.8 %

NYSE GPMT opened at $2.74 on Thursday. The firm has a market cap of $136.88 million, a P/E ratio of -0.71 and a beta of 1.86. The company’s 50 day moving average is $3.18 and its 200-day moving average is $2.98. Granite Point Mortgage Trust Inc. has a 12-month low of $2.46 and a 12-month high of $6.13.

Granite Point Mortgage Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.20 annualized dividend and a yield of 7.30%. Granite Point Mortgage Trust’s dividend payout ratio is currently -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.