Crawford Investment Counsel Inc. Has $4.48 Million Position in Granite Point Mortgage Trust Inc (GPMT)

Crawford Investment Counsel Inc. boosted its position in Granite Point Mortgage Trust Inc (NYSE:GPMT) by 4.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 232,454 shares of the company’s stock after acquiring an additional 10,924 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in Granite Point Mortgage Trust were worth $4,482,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. American International Group Inc. raised its holdings in Granite Point Mortgage Trust by 20.8% during the third quarter. American International Group Inc. now owns 33,769 shares of the company’s stock worth $651,000 after purchasing an additional 5,807 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Granite Point Mortgage Trust during the third quarter worth approximately $124,000. Andesa Financial Management Inc. raised its holdings in Granite Point Mortgage Trust by 16.0% during the third quarter. Andesa Financial Management Inc. now owns 47,395 shares of the company’s stock worth $911,000 after purchasing an additional 6,525 shares in the last quarter. Wedbush Securities Inc. raised its holdings in Granite Point Mortgage Trust by 44.2% during the second quarter. Wedbush Securities Inc. now owns 21,826 shares of the company’s stock worth $401,000 after purchasing an additional 6,694 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. raised its holdings in Granite Point Mortgage Trust by 1,242.6% during the third quarter. Piedmont Investment Advisors Inc. now owns 10,002 shares of the company’s stock worth $193,000 after purchasing an additional 9,257 shares in the last quarter. 73.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GPMT opened at $18.69 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 28.78 and a current ratio of 28.78. The company has a market cap of $808.29 million, a PE ratio of 13.01, a price-to-earnings-growth ratio of 0.60 and a beta of 0.15. Granite Point Mortgage Trust Inc has a 12-month low of $16.15 and a 12-month high of $19.33.

Granite Point Mortgage Trust (NYSE:GPMT) last announced its earnings results on Monday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $24.20 million for the quarter, compared to analyst estimates of $23.70 million. Granite Point Mortgage Trust had a net margin of 35.88% and a return on equity of 7.55%. Analysts anticipate that Granite Point Mortgage Trust Inc will post 1.43 earnings per share for the current year.

A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Granite Point Mortgage Trust from $19.00 to $19.50 and gave the stock an “overweight” rating in a report on Wednesday, October 24th. BTIG Research assumed coverage on shares of Granite Point Mortgage Trust in a report on Monday, October 8th. They set a “neutral” rating on the stock. Compass Point reissued a “buy” rating and set a $20.00 price objective on shares of Granite Point Mortgage Trust in a report on Tuesday, August 7th. Finally, Keefe, Bruyette & Woods cut shares of Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a report on Monday, July 30th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.10.

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

Further Reading: Balanced Fund

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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