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

Analysts have set a 12 month consensus price target of $19.75 for the company, according to Zacks. Zacks has also given Granite Point Mortgage Trust an industry rank of 166 out of 265 based on the ratings given to related companies.

Several research firms have weighed in on GPMT. J P Morgan Chase & Co began coverage on shares of Granite Point Mortgage Trust in a research report on Tuesday, July 18th. They set an “overweight” rating and a $20.00 target price on the stock. JMP Securities began coverage on shares of Granite Point Mortgage Trust in a research report on Tuesday, July 18th. They set an “outperform” rating and a $20.50 target price on the stock. Keefe, Bruyette & Woods began coverage on shares of Granite Point Mortgage Trust in a research report on Tuesday, July 18th. They set a “market perform” rating and a $19.50 target price on the stock. Finally, Bank of America Corporation began coverage on shares of Granite Point Mortgage Trust in a research report on Tuesday, July 18th. They set a “neutral” rating on the stock.

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In other Granite Point Mortgage Trust news, CFO Marcin Urbaszek acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were acquired at an average cost of $19.50 per share, with a total value of $97,500.00. Following the acquisition, the chief financial officer now directly owns 18,500 shares of the company’s stock, valued at $360,750. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Two Harbors Investment Corp. acquired 12,912 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was acquired at an average cost of $19.05 per share, for a total transaction of $245,973.60. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 182,506 shares of company stock worth $3,507,392.

Several hedge funds have recently added to or reduced their stakes in GPMT. Bienville Capital Management LLC purchased a new stake in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $191,000. Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $218,000. Wells Fargo & Company MN purchased a new stake in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $393,000. Balyasny Asset Management LLC purchased a new stake in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $2,117,000. Finally, Empyrean Capital Partners LP purchased a new stake in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $5,470,000.

Shares of Granite Point Mortgage Trust (GPMT) opened at 19.04 on Monday. The stock’s market cap is $823.19 million. The company has a 50-day moving average of $19.09 and a 200 day moving average of $19.06. Granite Point Mortgage Trust has a one year low of $18.13 and a one year high of $19.30.

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.

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