Dean Investment Associates LLC grew its holdings in shares of Granite Point Mortgage Trust Inc (NYSE:GPMT) by 34.7% in the 1st quarter, Holdings Channel reports. The fund owned 169,830 shares of the company’s stock after purchasing an additional 43,710 shares during the period. Dean Investment Associates LLC’s holdings in Granite Point Mortgage Trust were worth $3,154,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GPMT. Vanguard Group Inc. raised its stake in shares of Granite Point Mortgage Trust by 11.4% during the third quarter. Vanguard Group Inc. now owns 4,040,006 shares of the company’s stock valued at $77,891,000 after acquiring an additional 411,946 shares during the last quarter. Monarch Partners Asset Management LLC raised its stake in shares of Granite Point Mortgage Trust by 381.5% during the fourth quarter. Monarch Partners Asset Management LLC now owns 463,398 shares of the company’s stock valued at $8,355,000 after acquiring an additional 367,163 shares during the last quarter. APG Asset Management N.V. bought a new position in shares of Granite Point Mortgage Trust during the fourth quarter valued at $4,825,000. Bank of New York Mellon Corp raised its stake in shares of Granite Point Mortgage Trust by 127.7% during the third quarter. Bank of New York Mellon Corp now owns 540,703 shares of the company’s stock valued at $10,424,000 after acquiring an additional 303,217 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Granite Point Mortgage Trust during the fourth quarter valued at $3,895,000. 68.23% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised shares of 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 analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $20.17.

Shares of NYSE GPMT opened at $18.91 on Thursday. Granite Point Mortgage Trust Inc has a twelve month low of $17.45 and a twelve month high of $19.69. The firm has a market cap of $1.02 billion, a P/E 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.

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Granite Point Mortgage Trust Company 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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Want to see what other hedge funds are holding GPMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Granite Point Mortgage Trust Inc (NYSE:GPMT).

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

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