Granite Point Mortgage Trust Inc (NASDAQ:GPMT) has been given an average broker rating score of 2.00 (Buy) from the four brokers that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company.

Brokers have set a one year consensus price target of $19.75 for the company and are anticipating that the company will post $0.34 EPS for the current quarter, according to Zacks. Zacks has also given Granite Point Mortgage Trust an industry rank of 216 out of 265 based on the ratings given to its competitors.

GPMT has been the topic of a number of recent analyst reports. Bank of America Corporation initiated coverage on Granite Point Mortgage Trust in a research report on Tuesday, July 18th. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods initiated coverage on Granite Point Mortgage Trust in a research report on Tuesday, July 18th. They set a “market perform” rating and a $19.50 price target on the stock. J P Morgan Chase & Co initiated coverage on Granite Point Mortgage Trust in a research report on Tuesday, July 18th. They set an “overweight” rating and a $20.00 price target on the stock. Finally, JMP Securities initiated coverage on Granite Point Mortgage Trust in a research report on Tuesday, July 18th. They set an “outperform” rating and a $20.50 price target on the stock.

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In other Granite Point Mortgage Trust news, insider Stephen Alpart purchased 25,700 shares of the stock in a transaction on Wednesday, June 28th. The shares were bought at an average price of $19.50 per share, for a total transaction of $501,150.00. Following the completion of the transaction, the insider now owns 45,700 shares of the company’s stock, valued at approximately $891,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Two Harbors Investment Corp. purchased 43,212 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $19.08 per share, for a total transaction of $824,484.96. The disclosure for this purchase can be found here. Insiders have acquired 110,412 shares of company stock worth $2,131,485 in the last quarter.

Institutional investors have recently modified their holdings of the company. Wilbanks Smith & Thomas Asset Management LLC acquired a new position in shares of Granite Point Mortgage Trust during the second quarter worth about $218,000. Empyrean Capital Partners LP acquired a new position in shares of Granite Point Mortgage Trust during the second quarter worth about $5,470,000. Goldman Sachs Group Inc. acquired a new position in shares of Granite Point Mortgage Trust during the second quarter worth about $45,408,000. Jacobs Asset Management LLC acquired a new position in shares of Granite Point Mortgage Trust during the second quarter worth about $13,739,000. Finally, Balyasny Asset Management LLC acquired a new position in shares of Granite Point Mortgage Trust during the second quarter worth about $2,117,000.

Granite Point Mortgage Trust (NASDAQ GPMT) opened at 19.21 on Thursday. Granite Point Mortgage Trust has a 12 month low of $18.13 and a 12 month high of $19.30. The stock’s market capitalization is $830.54 million. The firm has a 50-day moving average price of $19.04 and a 200 day moving average price of $19.03.

About Granite Point Mortgage Trust

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.

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