7,385 Shares in Granite Point Mortgage Trust Inc. (NYSE:GPMT) Acquired by Gladius Capital Management LP

Gladius Capital Management LP acquired a new stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,385 shares of the company’s stock, valued at approximately $44,000.

Several other large investors have also made changes to their positions in GPMT. Quantbot Technologies LP acquired a new position in Granite Point Mortgage Trust in the third quarter valued at approximately $32,000. Capital Square LLC purchased a new stake in Granite Point Mortgage Trust during the third quarter worth $54,000. B. Riley Wealth Advisors Inc. acquired a new stake in Granite Point Mortgage Trust during the third quarter valued at $55,000. Oak Thistle LLC purchased a new position in Granite Point Mortgage Trust in the fourth quarter valued at $67,000. Finally, Aigen Investment Management LP raised its position in shares of Granite Point Mortgage Trust by 68.2% in the third quarter. Aigen Investment Management LP now owns 17,700 shares of the company’s stock worth $86,000 after acquiring an additional 7,177 shares during the period. 51.63% of the stock is owned by hedge funds and other institutional investors.

Granite Point Mortgage Trust Trading Down 2.5 %

Granite Point Mortgage Trust stock traded down $0.10 during midday trading on Thursday, hitting $3.74. 685,976 shares of the stock were exchanged, compared to its average volume of 409,403. The stock has a market capitalization of $189.71 million, a price-to-earnings ratio of -2.49 and a beta of 1.80. The stock’s 50-day simple moving average is $4.53 and its 200 day simple moving average is $5.04. Granite Point Mortgage Trust Inc. has a fifty-two week low of $3.49 and a fifty-two week high of $6.41.

Granite Point Mortgage Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.15 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.60 annualized dividend and a dividend yield of 16.06%. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is -40.00%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. UBS Group reduced their price target on Granite Point Mortgage Trust from $6.50 to $6.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. Raymond James decreased their target price on Granite Point Mortgage Trust from $7.00 to $6.50 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Keefe, Bruyette & Woods cut their price target on shares of Granite Point Mortgage Trust from $5.00 to $4.75 and set an “underperform” rating for the company in a report on Wednesday, April 10th. Finally, JMP Securities downgraded shares of Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 20th.

Granite Point Mortgage Trust Profile

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.