Granite Point Mortgage Trust Inc. (NYSE:GPMT) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System cut its holdings in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT – Get Rating) by 72.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,048 shares of the company’s stock after selling 68,002 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Granite Point Mortgage Trust were worth $140,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC lifted its stake in 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 buying an additional 1,660 shares in the last quarter. Abundance Wealth Counselors lifted its stake in Granite Point Mortgage Trust by 12.1% in the 4th quarter. Abundance Wealth Counselors now owns 19,924 shares of the company’s stock valued at $107,000 after buying an additional 2,151 shares in the last quarter. Ausdal Financial Partners Inc. lifted its stake in Granite Point Mortgage Trust by 7.0% in the 3rd quarter. Ausdal Financial Partners Inc. now owns 33,859 shares of the company’s stock valued at $218,000 after buying an additional 2,209 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in 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 buying an additional 2,267 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in 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 buying an additional 2,402 shares in the last quarter. 61.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Granite Point Mortgage Trust Price Performance

GPMT opened at $4.93 on Wednesday. The company’s 50 day simple moving average is $4.61 and its two-hundred day simple moving average is $5.57. Granite Point Mortgage Trust Inc. has a 1-year low of $3.97 and a 1-year high of $11.15. The firm has a market capitalization of $254.04 million, a price-to-earnings ratio of -2.75 and a beta of 1.56.

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

Granite Point Mortgage Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Monday, April 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 16.23%. The ex-dividend date was Friday, March 31st. Granite Point Mortgage Trust’s payout ratio is presently -44.69%.

Granite Point Mortgage Trust Company 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.