Callodine Capital Management LP Decreases Stock Holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT)

Callodine Capital Management LP lessened its stake in shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 50.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,000 shares of the company’s stock after selling 75,000 shares during the quarter. Callodine Capital Management LP owned about 0.15% of Granite Point Mortgage Trust worth $372,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Captrust Financial Advisors bought a new position in shares of Granite Point Mortgage Trust during the 2nd quarter valued at $29,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Granite Point Mortgage Trust by 43.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,529 shares of the company’s stock valued at $40,000 after acquiring an additional 2,267 shares during the period. Moloney Securities Asset Management LLC purchased a new position in Granite Point Mortgage Trust in the first quarter worth about $50,000. Equitable Holdings Inc. purchased a new stake in shares of Granite Point Mortgage Trust during the 4th quarter valued at about $55,000. Finally, ExodusPoint Capital Management LP bought a new position in shares of Granite Point Mortgage Trust in the 4th quarter worth approximately $56,000. 47.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GPMT has been the subject of several recent research reports. JMP Securities restated a “market outperform” rating and set a $9.00 target price on shares of Granite Point Mortgage Trust in a research report on Thursday, August 17th. Raymond James cut their price objective on shares of Granite Point Mortgage Trust from $9.00 to $7.00 in a research report on Friday, May 12th.

Granite Point Mortgage Trust Price Performance

NYSE:GPMT traded down $0.08 during trading hours on Wednesday, hitting $5.30. 79,036 shares of the stock traded hands, compared to its average volume of 724,642. Granite Point Mortgage Trust Inc. has a 1 year low of $3.97 and a 1 year high of $9.36. The stock has a 50 day moving average price of $5.43 and a 200 day moving average price of $5.12.

Granite Point Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 15.09%. The ex-dividend date was Friday, June 30th. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is -55.56%.

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.