American Financial Group Inc. Takes Position in Granite Point Mortgage Trust Inc (GPMT)

American Financial Group Inc. bought a new position in Granite Point Mortgage Trust Inc (NYSE:GPMT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 204,688 shares of the company’s stock, valued at approximately $3,631,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter worth approximately $515,000. Bank of New York Mellon Corp bought a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter worth approximately $552,000. American Century Companies Inc. bought a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter worth approximately $4,589,000. Wells Fargo & Company MN bought a new stake in shares of Granite Point Mortgage Trust in the 2nd quarter worth approximately $393,000. Finally, KAMES CAPITAL plc bought a new stake in shares of Granite Point Mortgage Trust in the 4th quarter worth approximately $3,009,000. Institutional investors and hedge funds own 25.92% of the company’s stock.

Shares of Granite Point Mortgage Trust Inc (NYSE GPMT) opened at $17.33 on Monday. Granite Point Mortgage Trust Inc has a 1-year low of $16.15 and a 1-year high of $19.30.

A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Tuesday, October 24th. Compass Point assumed coverage on shares of Granite Point Mortgage Trust in a report on Friday, October 27th. They issued a “buy” rating and a $19.50 target price on the stock. Keefe, Bruyette & Woods upgraded shares of Granite Point Mortgage Trust from a “market perform” rating to an “outperform” rating in a report on Thursday, December 7th. Finally, Bank of America dropped their target price on shares of Granite Point Mortgage Trust from $19.50 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Granite Point Mortgage Trust presently has an average rating of “Buy” and an average price target of $19.58.

COPYRIGHT VIOLATION NOTICE: “American Financial Group Inc. Takes Position in Granite Point Mortgage Trust Inc (GPMT)” was originally posted by Week Herald and is owned by of Week Herald. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark and copyright law. The legal version of this piece of content can be accessed at https://weekherald.com/2018/02/19/american-financial-group-inc-takes-position-in-granite-point-mortgage-trust-inc-gpmt.html.

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.

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)

Receive News & Ratings for Granite Point Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Point Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply