Monarch Partners Asset Management LLC Sells 252,230 Shares of Granite Point Mortgage Trust Inc (NYSE:GPMT)

Monarch Partners Asset Management LLC reduced its position in Granite Point Mortgage Trust Inc (NYSE:GPMT) by 59.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 169,408 shares of the company’s stock after selling 252,230 shares during the period. Monarch Partners Asset Management LLC owned 0.31% of Granite Point Mortgage Trust worth $3,175,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Strs Ohio raised its stake in Granite Point Mortgage Trust by 5.2% in the 2nd quarter. Strs Ohio now owns 14,200 shares of the company’s stock valued at $272,000 after acquiring an additional 700 shares during the period. 6 Meridian raised its stake in Granite Point Mortgage Trust by 2.4% in the 2nd quarter. 6 Meridian now owns 36,496 shares of the company’s stock valued at $700,000 after acquiring an additional 844 shares during the period. Texas Permanent School Fund raised its stake in Granite Point Mortgage Trust by 2.4% in the 3rd quarter. Texas Permanent School Fund now owns 37,335 shares of the company’s stock valued at $700,000 after acquiring an additional 862 shares during the period. Louisiana State Employees Retirement System raised its stake in Granite Point Mortgage Trust by 4.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the company’s stock valued at $383,000 after acquiring an additional 900 shares during the period. Finally, Comerica Bank raised its stake in Granite Point Mortgage Trust by 1.8% in the 3rd quarter. Comerica Bank now owns 51,316 shares of the company’s stock valued at $947,000 after acquiring an additional 929 shares during the period. Institutional investors and hedge funds own 74.37% of the company’s stock.

Shares of GPMT traded down $0.04 during midday trading on Friday, hitting $18.12. 275,000 shares of the company traded hands, compared to its average volume of 480,763. The stock has a 50-day moving average of $18.50 and a 200-day moving average of $18.79. Granite Point Mortgage Trust Inc has a one year low of $17.45 and a one year high of $19.69. The firm has a market cap of $1.02 billion, a P/E ratio of 12.76 and a beta of 0.42. The company has a debt-to-equity ratio of 1.44, a current ratio of 28.84 and a quick ratio of 28.84.

Granite Point Mortgage Trust (NYSE:GPMT) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). Granite Point Mortgage Trust had a net margin of 29.51% and a return on equity of 7.32%. The company had revenue of $27.83 million for the quarter, compared to the consensus estimate of $28.90 million. Sell-side analysts forecast that Granite Point Mortgage Trust Inc will post 1.44 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 9.27%. The ex-dividend date of this dividend was Wednesday, October 2nd. Granite Point Mortgage Trust’s dividend payout ratio is presently 118.31%.

Several equities research analysts have recently weighed in on the company. Raymond James cut Granite Point Mortgage Trust from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $21.00 to $20.50 in a research report on Tuesday, August 13th. Zacks Investment Research upgraded Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th.

In related news, COO Steven Plust purchased 10,600 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $18.56 per share, for a total transaction of $196,736.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Granite Point Mortgage Trust Profile

Granite Point Mortgage Trust Inc 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. As of December 31, 2018, its investment portfolio includes 94 commercial real estate debt investments.

Featured Story: Percentage Gainers

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

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