Granite Point Mortgage Trust Inc. (NYSE:GPMT) Receives Average Rating of “Hold” from Analysts

Shares of Granite Point Mortgage Trust Inc. (NYSE:GPMT) have been assigned a consensus rating of “Hold” from the five analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $2.8333.

A number of brokerages recently weighed in on GPMT. Weiss Ratings reissued a “sell (d-)” rating on shares of Granite Point Mortgage Trust in a research note on Thursday. Zacks Research upgraded Granite Point Mortgage Trust to a “hold” rating in a report on Friday, December 19th. Compass Point set a $2.50 price objective on shares of Granite Point Mortgage Trust in a research note on Thursday, January 8th. Wall Street Zen raised shares of Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Granite Point Mortgage Trust from $2.75 to $2.50 and set a “market perform” rating on the stock in a report on Thursday, January 8th.

Insider Activity at Granite Point Mortgage Trust

In other Granite Point Mortgage Trust news, Director Hope B. Woodhouse sold 14,674 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $2.70, for a total value of $39,619.80. Following the completion of the transaction, the director owned 94,423 shares of the company’s stock, valued at $254,942.10. This represents a 13.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPMT. Advisory Services Network LLC bought a new stake in shares of Granite Point Mortgage Trust in the 3rd quarter valued at approximately $26,000. May Hill Capital LLC acquired a new stake in Granite Point Mortgage Trust in the 2nd quarter valued at $28,000. B. Riley Wealth Advisors Inc. acquired a new stake in Granite Point Mortgage Trust in the 2nd quarter valued at $28,000. Confluence Wealth Services Inc. bought a new stake in Granite Point Mortgage Trust in the second quarter valued at $29,000. Finally, Hudson Bay Capital Management LP acquired a new position in Granite Point Mortgage Trust during the second quarter worth $31,000. Institutional investors own 51.63% of the company’s stock.

Granite Point Mortgage Trust Stock Performance

Shares of GPMT opened at $2.28 on Friday. The firm has a market cap of $107.86 million, a PE ratio of -1.58 and a beta of 1.72. The firm’s 50 day moving average price is $2.53 and its 200 day moving average price is $2.69. Granite Point Mortgage Trust has a twelve month low of $1.61 and a twelve month high of $3.19.

Granite Point Mortgage Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Tuesday, December 30th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 8.8%. The ex-dividend date was Tuesday, December 30th. Granite Point Mortgage Trust’s dividend payout ratio is presently -13.89%.

Granite Point Mortgage Trust Company Profile

Granite Point Mortgage Trust, Inc is a specialty finance company that invests directly in commercial real estate debt. The company focuses on originating, acquiring and managing senior preferred and mezzanine loans secured by income-producing real estate across diverse property types, including multifamily, office, industrial and retail assets. Granite Point Mortgage Trust operates as a real estate investment trust (REIT), providing investors with exposure to floating-rate commercial mortgage loan investments.

Granite Point’s investment strategy centers on structuring loans to deliver attractive risk-adjusted returns, with portfolio allocations spanning senior loans, B-notes and mezzanine financings.