Camelot Portfolios LLC Decreases Stock Position in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Camelot Portfolios LLC lessened its position in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 9.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 231,599 shares of the company’s stock after selling 23,403 shares during the period. Camelot Portfolios LLC owned 0.46% of Granite Point Mortgage Trust worth $646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wolverine Asset Management LLC grew its stake in Granite Point Mortgage Trust by 209.2% in the 4th quarter. Wolverine Asset Management LLC now owns 493,848 shares of the company’s stock valued at $1,378,000 after buying an additional 334,109 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Granite Point Mortgage Trust by 121.4% in the third quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company’s stock valued at $892,000 after purchasing an additional 154,202 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in Granite Point Mortgage Trust by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 318,670 shares of the company’s stock worth $1,010,000 after purchasing an additional 59,520 shares in the last quarter. Barclays PLC boosted its stake in Granite Point Mortgage Trust by 64.4% in the 3rd quarter. Barclays PLC now owns 115,750 shares of the company’s stock worth $367,000 after purchasing an additional 45,323 shares during the period. Finally, Jane Street Group LLC grew its holdings in Granite Point Mortgage Trust by 28.3% during the 3rd quarter. Jane Street Group LLC now owns 110,362 shares of the company’s stock valued at $350,000 after buying an additional 24,313 shares in the last quarter. Institutional investors own 51.63% of the company’s stock.

Granite Point Mortgage Trust Trading Down 2.7 %

GPMT stock opened at $2.88 on Friday. The company’s 50 day moving average is $2.91 and its 200 day moving average is $2.96. The stock has a market cap of $143.83 million, a price-to-earnings ratio of -0.66 and a beta of 1.86. Granite Point Mortgage Trust Inc. has a 1-year low of $2.46 and a 1-year high of $5.01.

Granite Point Mortgage Trust (NYSE:GPMT) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($1.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($1.26). Granite Point Mortgage Trust had a negative return on equity of 14.08% and a negative net margin of 111.59%. The company had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.90 million. As a group, sell-side analysts forecast that Granite Point Mortgage Trust Inc. will post -2.75 EPS for the current fiscal year.

Granite Point Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 6.95%. The ex-dividend date was Tuesday, December 31st. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is currently -4.56%.

Wall Street Analyst Weigh In

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

Granite Point Mortgage Trust 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.