SG Americas Securities LLC Increases Stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

April 16, 2024

3 minutes read

SG Americas Securities LLC increased its holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT – Free Report) by 27.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,877 shares of the company’s stock after purchasing an additional 6,048 shares during the period. SG Americas Securities LLC’s holdings in Granite Point Mortgage Trust were worth $166,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Granite Point Mortgage Trust by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 4,703,298 shares of the company’s stock valued at $52,301,000 after purchasing an additional 64,535 shares in the last quarter. BlackRock Inc. boosted its position in Granite Point Mortgage Trust by 0.9% during the 2nd quarter. BlackRock Inc. now owns 4,238,440 shares of the company’s stock valued at $22,464,000 after buying an additional 38,963 shares during the period. State Street Corp boosted its position in Granite Point Mortgage Trust by 1.3% during the 2nd quarter. State Street Corp now owns 2,411,283 shares of the company’s stock valued at $23,671,000 after buying an additional 31,891 shares during the period. Invesco Ltd. boosted its position in Granite Point Mortgage Trust by 108.4% during the 1st quarter. Invesco Ltd. now owns 1,583,194 shares of the company’s stock valued at $17,605,000 after buying an additional 823,363 shares during the period. Finally, Geode Capital Management LLC boosted its position in Granite Point Mortgage Trust by 2.9% during the 1st quarter. Geode Capital Management LLC now owns 1,037,741 shares of the company’s stock valued at $5,147,000 after buying an additional 29,184 shares during the period. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Granite Point Mortgage Trust Trading Down 2.3 %

NYSE:GPMT opened at $4.32 on Tuesday. The company has a 50-day moving average price of $4.75 and a 200-day moving average price of $5.08. Granite Point Mortgage Trust Inc. has a 12 month low of $3.97 and a 12 month high of $6.41. The stock has a market cap of $219.41 million, a price-to-earnings ratio of -2.88 and a beta of 1.80.

Granite Point Mortgage Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.60 annualized dividend and a dividend yield of 13.89%. Granite Point Mortgage Trust’s dividend payout ratio is -40.00%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GPMT. Raymond James dropped their price target on shares of Granite Point Mortgage Trust from $7.00 to $6.50 and set an “outperform” rating for the company in a research report on Friday, February 16th. JMP Securities cut shares of Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 20th. UBS Group dropped their target price on shares of 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. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Granite Point Mortgage Trust from $5.00 to $4.75 and set an “underperform” rating for the company in a research report on Wednesday, April 10th.

View Our Latest Report on GPMT

Granite Point Mortgage Trust Profile

(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.