The Manufacturers Life Insurance Company Increases Stake in Granite Point Mortgage Trust Inc (GPMT)

The Manufacturers Life Insurance Company grew its position in Granite Point Mortgage Trust Inc (NYSE:GPMT) by 275.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 32,915 shares of the company’s stock after acquiring an additional 24,141 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Granite Point Mortgage Trust worth $584,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC bought a new position in shares of Granite Point Mortgage Trust in the 4th quarter valued at $139,000. Public Employees Retirement Association of Colorado bought a new position in shares of Granite Point Mortgage Trust in the 4th quarter valued at $147,000. Strs Ohio lifted its stake in shares of Granite Point Mortgage Trust by 324.1% in the 4th quarter. Strs Ohio now owns 12,300 shares of the company’s stock valued at $218,000 after acquiring an additional 9,400 shares during the last quarter. Sei Investments Co. bought a new position in shares of Granite Point Mortgage Trust in the 3rd quarter valued at $225,000. Finally, BTC Capital Management Inc. bought a new position in shares of Granite Point Mortgage Trust in the 4th quarter valued at $248,000. Institutional investors own 66.87% of the company’s stock.

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GPMT has been the subject of a number of research reports. Zacks Investment Research upgraded Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. Keefe, Bruyette & Woods upgraded Granite Point Mortgage Trust from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $19.58.

Granite Point Mortgage Trust Inc (NYSE GPMT) opened at $17.26 on Tuesday. Granite Point Mortgage Trust Inc has a 12-month low of $16.15 and a 12-month high of $19.30.

Granite Point Mortgage Trust (NYSE:GPMT) last announced its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). The company had revenue of $37.06 million during the quarter, compared to analyst estimates of $22.27 million. analysts predict that Granite Point Mortgage Trust Inc will post 1.68 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Thursday, March 29th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.81%. The ex-dividend date is Wednesday, March 28th.

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Granite Point Mortgage Trust Company Profile

Granite Point Mortgage Trust Inc is focused primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt, such as commercial real estate investments. The Company formed to continue and expand the commercial real estate lending business. The Company is a long-term, fundamental value-oriented investor.

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

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