Texas Permanent School Fund Sells 2,561 Shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Texas Permanent School Fund reduced its holdings in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT – Get Rating) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,845 shares of the company’s stock after selling 2,561 shares during the quarter. Texas Permanent School Fund owned 0.07% of Granite Point Mortgage Trust worth $187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GPMT. Catalyst Capital Advisors LLC increased its position in Granite Point Mortgage Trust by 25.2% during the third quarter. Catalyst Capital Advisors LLC now owns 8,240 shares of the company’s stock valued at $53,000 after acquiring an additional 1,660 shares during the last quarter. Abundance Wealth Counselors increased its position in Granite Point Mortgage Trust by 12.1% in the fourth quarter. Abundance Wealth Counselors now owns 19,924 shares of the company’s stock worth $107,000 after buying an additional 2,151 shares in the last quarter. Ausdal Financial Partners Inc. increased its position in Granite Point Mortgage Trust by 7.0% in the third quarter. Ausdal Financial Partners Inc. now owns 33,859 shares of the company’s stock worth $218,000 after buying an additional 2,209 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Granite Point Mortgage Trust by 43.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,529 shares of the company’s stock worth $40,000 after buying an additional 2,267 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Granite Point Mortgage Trust by 89.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,095 shares of the company’s stock worth $32,000 after buying an additional 2,402 shares in the last quarter. 61.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Raymond James reduced their price target on Granite Point Mortgage Trust from $9.00 to $7.00 in a research report on Friday, May 12th.

Granite Point Mortgage Trust Trading Up 3.8 %

NYSE:GPMT opened at $4.59 on Friday. Granite Point Mortgage Trust Inc. has a 12-month low of $3.97 and a 12-month high of $11.15. The stock has a 50-day moving average price of $4.62 and a 200 day moving average price of $5.64. The stock has a market capitalization of $236.50 million, a P/E ratio of -2.56 and a beta of 1.56.

Granite Point Mortgage Trust (NYSE:GPMT – Get Rating) last announced its quarterly earnings results on Friday, February 24th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.35). Granite Point Mortgage Trust had a negative net margin of 34.44% and a positive return on equity of 3.08%. The firm had revenue of $61.42 million for the quarter, compared to the consensus estimate of $19.40 million. On average, research analysts predict that Granite Point Mortgage Trust Inc. will post 0.63 earnings per share for the current fiscal year.

Granite Point Mortgage Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Monday, April 3rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 17.43%. The ex-dividend date of this dividend was Friday, March 31st. Granite Point Mortgage Trust’s payout ratio is presently -44.69%.

Granite Point Mortgage Trust Profile

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Granite Point Mortgage Trust, Inc operates as a real estate investment trust, which focuses on originating, investing in, and managing senior floating-rate commercial mortgage loans, other debt and debt-like commercial real estate investments. The company was founded on April 7, 2017 and is headquartered in New York, NY.