Granite Point Mortgage Trust Inc (GPMT) Shares Bought by Raymond James Financial Services Advisors Inc.

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Raymond James Financial Services Advisors Inc. increased its holdings in shares of Granite Point Mortgage Trust Inc (NYSE:GPMT) by 66.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 398,065 shares of the company’s stock after purchasing an additional 158,714 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Granite Point Mortgage Trust were worth $7,392,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Bank of Montreal Can boosted its stake in Granite Point Mortgage Trust by 19.3% during the 1st quarter. Bank of Montreal Can now owns 3,672 shares of the company’s stock worth $69,000 after purchasing an additional 593 shares during the period. Thrivent Financial for Lutherans boosted its stake in Granite Point Mortgage Trust by 2.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 34,081 shares of the company’s stock worth $614,000 after purchasing an additional 685 shares during the period. Texas Permanent School Fund boosted its stake in Granite Point Mortgage Trust by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 28,437 shares of the company’s stock worth $513,000 after purchasing an additional 1,094 shares during the period. IndexIQ Advisors LLC boosted its stake in Granite Point Mortgage Trust by 4.0% during the 1st quarter. IndexIQ Advisors LLC now owns 34,811 shares of the company’s stock worth $646,000 after purchasing an additional 1,323 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Granite Point Mortgage Trust during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 68.23% of the company’s stock.

Shares of Granite Point Mortgage Trust stock opened at $18.91 on Thursday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 13.32 and a beta of 0.36. 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 Inc has a one year low of $17.45 and a one year high of $19.69.

Separately, Zacks Investment Research cut shares of Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $20.17.

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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, 2018, its investment portfolio includes 94 commercial real estate debt investments.

Further Reading: Are sell-side analysts objective?

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

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