B. Riley Wealth Advisors Inc. Invests $55,000 in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

B. Riley Wealth Advisors Inc. acquired a new position in Granite Point Mortgage Trust Inc. (NYSE:GPMTFree Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,906 shares of the company’s stock, valued at approximately $55,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GPMT. Deutsche Bank AG boosted its stake in Granite Point Mortgage Trust by 50.0% in the 3rd quarter. Deutsche Bank AG now owns 30,007 shares of the company’s stock worth $146,000 after purchasing an additional 10,000 shares in the last quarter. Tudor Investment Corp Et Al acquired a new stake in Granite Point Mortgage Trust in the 3rd quarter worth approximately $88,000. Penserra Capital Management LLC boosted its stake in Granite Point Mortgage Trust by 14.5% in the 3rd quarter. Penserra Capital Management LLC now owns 97,295 shares of the company’s stock worth $474,000 after purchasing an additional 12,296 shares in the last quarter. GSA Capital Partners LLP boosted its stake in Granite Point Mortgage Trust by 58.6% in the 3rd quarter. GSA Capital Partners LLP now owns 57,998 shares of the company’s stock worth $283,000 after purchasing an additional 21,431 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Granite Point Mortgage Trust by 90.5% in the 3rd quarter. Sei Investments Co. now owns 40,625 shares of the company’s stock worth $198,000 after purchasing an additional 19,300 shares in the last quarter. Hedge funds and other institutional investors own 47.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GPMT. 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 research note on Friday, February 16th. UBS Group decreased their price objective on shares of Granite Point Mortgage Trust from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. Finally, JMP Securities cut shares of Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 20th.

Check Out Our Latest Analysis on GPMT

Granite Point Mortgage Trust Price Performance

GPMT opened at $4.91 on Tuesday. The firm has a fifty day moving average price of $5.10 and a 200 day moving average price of $5.15. Granite Point Mortgage Trust Inc. has a 1 year low of $3.97 and a 1 year high of $6.41. The stock has a market cap of $249.14 million, a P/E ratio of -3.27 and a beta of 1.80.

Granite Point Mortgage Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 12.23%. The ex-dividend date of this dividend is Thursday, March 28th. Granite Point Mortgage Trust’s dividend payout ratio is currently -40.00%.

About Granite Point Mortgage Trust

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Granite Point Mortgage Trust (NYSE:GPMT)

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