Granite Point Mortgage Trust Inc. (NYSE:GPMT) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its position in Granite Point Mortgage Trust Inc. (NYSE:GPMT – Get Rating) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 455,910 shares of the company’s stock after selling 63,444 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.87% of Granite Point Mortgage Trust worth $2,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new position in Granite Point Mortgage Trust during the second quarter worth $29,000. Point72 Hong Kong Ltd acquired a new position in Granite Point Mortgage Trust during the third quarter worth $25,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Granite Point Mortgage Trust by 89.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,095 shares of the company’s stock valued at $32,000 after purchasing an additional 2,402 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Granite Point Mortgage Trust by 43.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,529 shares of the company’s stock valued at $40,000 after purchasing an additional 2,267 shares during the last quarter. Finally, Catalyst Capital Advisors LLC lifted its stake in shares of Granite Point Mortgage Trust by 25.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 8,240 shares of the company’s stock valued at $53,000 after purchasing an additional 1,660 shares during the last quarter. Institutional investors and hedge funds own 61.39% of the company’s stock.

Granite Point Mortgage Trust Trading Down 1.7 %

GPMT stock opened at $4.74 on Friday. The company has a market capitalization of $244.25 million, a PE ratio of -2.65 and a beta of 1.56. Granite Point Mortgage Trust Inc. has a 12-month low of $3.97 and a 12-month high of $11.15. The business’s fifty day moving average price is $4.60 and its 200 day moving average price is $5.56.

Granite Point Mortgage Trust (NYSE:GPMT – Get Rating) last posted its quarterly earnings data on Friday, February 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.35). The firm had revenue of $61.42 million during the quarter, compared to analysts’ expectations of $19.40 million. Granite Point Mortgage Trust had a negative net margin of 34.44% and a positive return on equity of 3.08%. Research analysts predict that Granite Point Mortgage Trust Inc. will post 0.61 EPS for the current fiscal year.

Granite Point Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Monday, April 3rd were issued a $0.20 dividend. The ex-dividend date was Friday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 16.88%. Granite Point Mortgage Trust’s dividend payout ratio is presently -44.69%.

Analysts Set New Price Targets

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

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.