Timbercreek Investment Management Inc. boosted its stake in Granite Point Mortgage Trust Inc (NYSE:GPMT) by 10.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 507,795 shares of the company’s stock after buying an additional 46,208 shares during the period. Granite Point Mortgage Trust makes up 2.7% of Timbercreek Investment Management Inc.’s portfolio, making the stock its 18th largest holding. Timbercreek Investment Management Inc. owned 1.17% of Granite Point Mortgage Trust worth $9,156,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in shares of Granite Point Mortgage Trust by 109.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 57,713 shares of the company’s stock worth $1,106,000 after purchasing an additional 30,175 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of Granite Point Mortgage Trust by 1,126.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 55,761 shares of the company’s stock worth $1,074,000 after purchasing an additional 51,213 shares in the last quarter. Texas Permanent School Fund acquired a new position in shares of Granite Point Mortgage Trust during the 3rd quarter worth approximately $527,000. Andesa Financial Management Inc. acquired a new position in shares of Granite Point Mortgage Trust during the 2nd quarter worth approximately $745,000. Finally, Prudential Financial Inc. acquired a new position in shares of Granite Point Mortgage Trust during the 3rd quarter worth approximately $2,124,000. Institutional investors and hedge funds own 73.45% of the company’s stock.

A number of brokerages have issued reports on GPMT. Zacks Investment Research upgraded shares of Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, October 17th. JPMorgan Chase & Co. increased their price target on shares of Granite Point Mortgage Trust from $19.00 to $19.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 24th. Finally, BTIG Research began coverage on shares of Granite Point Mortgage Trust in a research report on Monday, October 8th. They set a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Granite Point Mortgage Trust currently has a consensus rating of “Buy” and an average price target of $20.10.

Shares of NYSE GPMT traded up $0.08 during trading hours on Friday, hitting $19.05. 16,509 shares of the stock were exchanged, compared to its average volume of 531,725. The company has a current ratio of 28.78, a quick ratio of 28.78 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $827.84 million, a price-to-earnings ratio of 13.32, a P/E/G ratio of 0.53 and a beta of 0.23. Granite Point Mortgage Trust Inc has a 1-year low of $16.15 and a 1-year high of $19.33.

Granite Point Mortgage Trust (NYSE:GPMT) last issued its quarterly earnings data on Monday, November 5th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The business had revenue of $24.20 million during the quarter, compared to the consensus estimate of $23.70 million. Granite Point Mortgage Trust had a net margin of 35.88% and a return on equity of 7.55%. On average, equities research analysts forecast that Granite Point Mortgage Trust Inc will post 1.43 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 18th. Investors of record on Monday, December 31st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 8.82%. The ex-dividend date is Friday, December 28th.

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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, 2017, its investment portfolio includes 61 commercial real estate debt investments.

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

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