Granite Point Mortgage Trust (NYSE:GPMT)‘s stock had its “buy” rating restated by equities researchers at JMP Securities in a research note issued on Tuesday, Analyst Ratings Network reports. They presently have a $15.00 target price on the stock. JMP Securities’ price objective would indicate a potential upside of 11.28% from the stock’s previous close.
Separately, Zacks Investment Research cut shares of Granite Point Mortgage Trust from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.80.
Shares of GPMT stock opened at $13.48 on Tuesday. The firm has a fifty day moving average price of $13.49 and a 200 day moving average price of $13.73. The company has a market cap of $738.56 million, a P/E ratio of 21.40 and a beta of 1.50. Granite Point Mortgage Trust has a 12 month low of $6.51 and a 12 month high of $15.92.
In other Granite Point Mortgage Trust news, COO Steven Plust bought 8,000 shares of Granite Point Mortgage Trust stock in a transaction dated Thursday, August 12th. The stock was acquired at an average cost of $12.94 per share, with a total value of $103,520.00. Following the completion of the acquisition, the chief operating officer now owns 57,969 shares of the company’s stock, valued at $750,118.86. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CIO Stephen Alpart bought 3,900 shares of Granite Point Mortgage Trust stock in a transaction dated Thursday, August 19th. The stock was acquired at an average cost of $12.97 per share, with a total value of $50,583.00. The disclosure for this purchase can be found here. Insiders bought 27,562 shares of company stock valued at $362,395 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. acquired a new position in shares of Granite Point Mortgage Trust during the second quarter worth about $28,000. Sphinx Trading LP acquired a new position in shares of Granite Point Mortgage Trust during the third quarter worth about $26,000. Meeder Asset Management Inc. increased its stake in shares of Granite Point Mortgage Trust by 105.3% during the second quarter. Meeder Asset Management Inc. now owns 2,887 shares of the company’s stock worth $43,000 after acquiring an additional 1,481 shares during the period. Point72 Hong Kong Ltd increased its stake in shares of Granite Point Mortgage Trust by 90.9% during the first quarter. Point72 Hong Kong Ltd now owns 5,325 shares of the company’s stock worth $64,000 after acquiring an additional 2,535 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Granite Point Mortgage Trust during the second quarter worth about $98,000. Institutional investors and hedge funds own 62.33% of the company’s stock.
About Granite Point Mortgage Trust
Granite Point Mortgage Trust, Inc operates as a real estate investment trust, which focuses on originating, investing in, and managing senior floating-rate commercial mortgage loans, other debt and debt-like commercial real estate investments. The company was founded on April 7, 2017 and is headquartered in New York, NY.
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