Granite Point Mortgage Trust Inc. (NYSE:GPMT) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its position in Granite Point Mortgage Trust Inc. (NYSE:GPMT - Free Report) by 94.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,701 shares of the company's stock after selling 798,189 shares during the quarter. Raymond James & Associates owned approximately 0.10% of Granite Point Mortgage Trust worth $295,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GPMT. Nisa Investment Advisors LLC grew its position in shares of Granite Point Mortgage Trust by 14.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 21,115 shares of the company's stock worth $103,000 after buying an additional 2,700 shares during the period. SG Americas Securities LLC lifted its position in Granite Point Mortgage Trust by 27.7% in the 4th quarter. SG Americas Securities LLC now owns 27,877 shares of the company's stock valued at $166,000 after acquiring an additional 6,048 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Granite Point Mortgage Trust in the 3rd quarter valued at $32,000. Aigen Investment Management LP lifted its stake in Granite Point Mortgage Trust by 68.2% during the 3rd quarter. Aigen Investment Management LP now owns 17,700 shares of the company's stock valued at $86,000 after acquiring an additional 7,177 shares in the last quarter. Finally, Epiq Partners LLC boosted its holdings in Granite Point Mortgage Trust by 1.4% during the 4th quarter. Epiq Partners LLC now owns 642,325 shares of the company's stock worth $3,815,000 after acquiring an additional 9,000 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Granite Point Mortgage Trust Stock Down 3.1 %

GPMT traded down $0.13 during trading on Tuesday, reaching $4.29. 333,624 shares of the company were exchanged, compared to its average volume of 405,210. Granite Point Mortgage Trust Inc. has a 12-month low of $3.97 and a 12-month high of $6.41. The company's 50-day moving average is $4.60 and its two-hundred day moving average is $5.06. The company has a market cap of $217.64 million, a price-to-earnings ratio of -2.94 and a beta of 1.80.

Granite Point Mortgage Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 14.00%. The ex-dividend date of this dividend was Thursday, March 28th. Granite Point Mortgage Trust's payout ratio is -40.00%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Raymond James lowered their target price on shares of Granite Point Mortgage Trust from $7.00 to $6.50 and set an "outperform" rating for the company in a report on Friday, February 16th. UBS Group decreased their target price on Granite Point Mortgage Trust from $6.50 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods cut their price target on shares of Granite Point Mortgage Trust from $5.00 to $4.75 and set an "underperform" rating on the stock in a report on Wednesday, April 10th. Finally, JMP Securities downgraded Granite Point Mortgage Trust from an "outperform" rating to a "market perform" rating in a research note on Tuesday, February 20th.

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.