Camelot Portfolios LLC Cuts Stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Camelot Portfolios LLC lowered its holdings in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 9.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 231,599 shares of the company’s stock after selling 23,403 shares during the quarter. Camelot Portfolios LLC’s holdings in Granite Point Mortgage Trust were worth $646,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Granite Point Mortgage Trust during the third quarter valued at about $66,000. Wolverine Asset Management LLC purchased a new position in Granite Point Mortgage Trust in the 3rd quarter worth approximately $506,000. GSA Capital Partners LLP lifted its position in Granite Point Mortgage Trust by 25.7% in the third quarter. GSA Capital Partners LLP now owns 54,223 shares of the company’s stock valued at $172,000 after purchasing an additional 11,101 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Granite Point Mortgage Trust during the third quarter valued at approximately $46,000. Finally, Penserra Capital Management LLC grew its holdings in shares of 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 worth $1,010,000 after purchasing an additional 59,520 shares during the last quarter. 51.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Granite Point Mortgage Trust Stock Down 2.7 %

NYSE:GPMT opened at $2.88 on Friday. The firm’s fifty day simple moving average is $2.91 and its 200 day simple moving average is $2.96. The stock has a market cap of $143.83 million, a P/E ratio of -0.66 and a beta of 1.86. Granite Point Mortgage Trust Inc. has a twelve month low of $2.46 and a twelve month high of $5.01.

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

Granite Point Mortgage Trust Announces Dividend

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

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.