California State Teachers Retirement System Acquires 51,583 Shares of Granite Point Mortgage Trust Inc (GPMT)

California State Teachers Retirement System increased its holdings in Granite Point Mortgage Trust Inc (NYSE:GPMT) by 314.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,983 shares of the company’s stock after buying an additional 51,583 shares during the period. California State Teachers Retirement System owned about 0.16% of Granite Point Mortgage Trust worth $1,206,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter worth about $515,000. Bank of New York Mellon Corp purchased a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter worth about $552,000. West Family Investments Inc. purchased a new stake in shares of Granite Point Mortgage Trust in the 4th quarter worth about $2,506,000. AWH Capital L.P. purchased a new stake in shares of Granite Point Mortgage Trust in the 4th quarter worth about $3,300,000. Finally, KAMES CAPITAL plc purchased a new stake in shares of Granite Point Mortgage Trust in the 4th quarter worth about $3,009,000. Institutional investors and hedge funds own 66.87% of the company’s stock.

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Several research firms recently commented on GPMT. Raymond James Financial began coverage on shares of Granite Point Mortgage Trust in a research report on Tuesday, March 27th. They issued a “strong-buy” rating and a $21.00 price objective on the stock. Citigroup began coverage on shares of Granite Point Mortgage Trust in a research report on Tuesday, March 27th. They issued a “neutral” rating and a $19.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.69.

Shares of GPMT stock opened at $16.86 on Friday. Granite Point Mortgage Trust Inc has a twelve month low of $16.15 and a twelve month high of $19.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 37.88 and a current ratio of 37.88.

Granite Point Mortgage Trust (NYSE:GPMT) last announced its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $37.06 million for the quarter, compared to analysts’ expectations of $22.27 million. equities research analysts predict that Granite Point Mortgage Trust Inc will post 1.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Thursday, March 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 9.02%. The ex-dividend date of this dividend is Wednesday, March 28th.

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Granite Point Mortgage Trust Company Profile

Granite Point Mortgage Trust Inc is focused primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt, such as commercial real estate investments. The Company formed to continue and expand the commercial real estate lending business. The Company is a long-term, fundamental value-oriented investor.

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

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