Rhumbline Advisers Has $2.74 Million Position in Granite Point Mortgage Trust Inc (GPMT)

Rhumbline Advisers increased its stake in shares of Granite Point Mortgage Trust Inc (NYSE:GPMT) by 17.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,774 shares of the company’s stock after buying an additional 21,823 shares during the quarter. Rhumbline Advisers owned 0.28% of Granite Point Mortgage Trust worth $2,744,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GPMT. Vanguard Group Inc. raised its position in Granite Point Mortgage Trust by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,040,006 shares of the company’s stock valued at $77,891,000 after purchasing an additional 411,946 shares during the last quarter. Monarch Partners Asset Management LLC raised its position in Granite Point Mortgage Trust by 381.5% in the 4th quarter. Monarch Partners Asset Management LLC now owns 463,398 shares of the company’s stock valued at $8,355,000 after purchasing an additional 367,163 shares during the last quarter. APG Asset Management N.V. bought a new position in Granite Point Mortgage Trust in the 4th quarter valued at $4,825,000. Bank of New York Mellon Corp raised its position in Granite Point Mortgage Trust by 127.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 540,703 shares of the company’s stock valued at $10,424,000 after purchasing an additional 303,217 shares during the last quarter. Finally, Norges Bank bought a new position in Granite Point Mortgage Trust in the 4th quarter valued at $3,895,000. Institutional investors and hedge funds own 73.83% of the company’s stock.

Separately, Zacks Investment Research raised Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Monday, February 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Granite Point Mortgage Trust presently has a consensus rating of “Hold” and an average price target of $20.17.

NYSE GPMT opened at $18.59 on Monday. The firm has a market capitalization of $999.05 million, a PE ratio of 13.09 and a beta of 0.38. Granite Point Mortgage Trust Inc has a 52 week low of $17.45 and a 52 week high of $19.69. The company has a quick ratio of 12.95, a current ratio of 12.95 and a debt-to-equity ratio of 1.49.

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.

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