Shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT – Get Rating) have earned a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $14.25.
Several equities analysts recently commented on the company. JMP Securities reissued a “buy” rating and set a $15.00 price target on shares of Granite Point Mortgage Trust in a research report on Monday, March 28th. Zacks Investment Research lowered Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, April 12th. Finally, Credit Suisse Group dropped their price objective on Granite Point Mortgage Trust from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Tuesday, March 1st.
Hedge funds have recently bought and sold shares of the business. Catalyst Capital Advisors LLC increased its holdings in Granite Point Mortgage Trust by 32.0% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,410 shares of the company’s stock worth $58,000 after purchasing an additional 1,070 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter valued at approximately $84,000. Meeder Asset Management Inc. increased its holdings in shares of Granite Point Mortgage Trust by 127.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 6,553 shares of the company’s stock valued at $87,000 after acquiring an additional 3,666 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Granite Point Mortgage Trust in the 4th quarter valued at approximately $124,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter valued at approximately $140,000. Institutional investors own 60.07% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Friday, April 1st were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, March 31st. This represents a $1.00 annualized dividend and a yield of 9.58%. Granite Point Mortgage Trust’s dividend payout ratio is presently 87.72%.
Granite Point Mortgage Trust Company Profile (Get Rating)
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.
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