Granite Point Mortgage Trust Inc. (NYSE:GPMT) Stock Holdings Lifted by Abundance Wealth Counselors

Abundance Wealth Counselors lifted its holdings in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 28.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 69,165 shares of the company’s stock after purchasing an additional 15,349 shares during the period. Abundance Wealth Counselors’ holdings in Granite Point Mortgage Trust were worth $205,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in Granite Point Mortgage Trust by 2.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 118,793 shares of the company’s stock valued at $567,000 after purchasing an additional 3,336 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in Granite Point Mortgage Trust by 33.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 20,000 shares of the company’s stock valued at $119,000 after purchasing an additional 5,000 shares during the last quarter. SG Americas Securities LLC lifted its position in Granite Point Mortgage Trust by 27.7% in the 4th quarter. SG Americas Securities LLC now owns 27,877 shares of the company’s stock valued at $166,000 after purchasing an additional 6,048 shares during the last quarter. Gladius Capital Management LP bought a new stake in Granite Point Mortgage Trust in the 4th quarter valued at about $44,000. Finally, BNP Paribas Financial Markets lifted its position in Granite Point Mortgage Trust by 35.6% in the 1st quarter. BNP Paribas Financial Markets now owns 32,360 shares of the company’s stock valued at $154,000 after purchasing an additional 8,490 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods dropped their price target on shares of Granite Point Mortgage Trust from $3.25 to $2.75 and set an “underperform” rating on the stock in a research report on Monday.

Granite Point Mortgage Trust Stock Performance

Shares of GPMT stock traded up $0.06 during midday trading on Thursday, reaching $2.62. 228,006 shares of the company were exchanged, compared to its average volume of 451,613. The company’s 50 day moving average price is $2.94 and its two-hundred day moving average price is $3.89. The company has a market cap of $133.71 million, a P/E ratio of -1.13 and a beta of 1.79. Granite Point Mortgage Trust Inc. has a 12 month low of $2.49 and a 12 month high of $6.41.

Granite Point Mortgage Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.05 dividend. The ex-dividend date was Monday, July 1st. This represents a $0.20 annualized dividend and a dividend yield of 7.63%. Granite Point Mortgage Trust’s dividend payout ratio is currently -8.66%.

Insider Transactions at Granite Point Mortgage Trust

In other news, Director Stephen G. Kasnet sold 27,027 shares of Granite Point Mortgage Trust stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $3.08, for a total value of $83,243.16. Following the transaction, the director now owns 121,066 shares of the company’s stock, valued at approximately $372,883.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

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.