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

Brokerages 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 69 out of 265 based on the ratings given to its competitors.

Several brokerages recently issued reports on GPMT. J P Morgan Chase & Co began coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They set an “overweight” rating and a $20.00 price objective on the stock. Zacks Investment Research upgraded Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday, September 20th. JMP Securities began coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They set an “outperform” rating and a $20.50 price objective on the stock. Keefe, Bruyette & Woods began coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They set a “market perform” rating and a $19.50 price objective on the stock. Finally, Bank of America Corporation began coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They set a “neutral” rating on the stock.

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In other Granite Point Mortgage Trust news, Director William Reid Sanders purchased 10,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were bought at an average cost of $19.16 per share, with a total value of $191,600.00. Following the completion of the acquisition, the director now owns 17,564 shares of the company’s stock, valued at $336,526.24. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Two Harbors Investment Corp. purchased 66,918 shares of the stock in a transaction dated Monday, October 2nd. The shares were acquired at an average cost of $18.80 per share, for a total transaction of $1,258,058.40. The disclosure for this purchase can be found here. Insiders acquired 312,580 shares of company stock worth $5,926,051 over the last quarter.

Several institutional investors and hedge funds have recently modified their holdings of GPMT. Kennedy Capital Management Inc. acquired a new position in shares of Granite Point Mortgage Trust during the second quarter valued at $5,673,000. Bienville Capital Management LLC acquired a new position in shares of Granite Point Mortgage Trust during the second quarter valued at $191,000. Wells Fargo & Company MN acquired a new position in shares of Granite Point Mortgage Trust during the second quarter valued at $393,000. Balyasny Asset Management LLC acquired a new position in shares of Granite Point Mortgage Trust during the second quarter valued at $2,117,000. Finally, Jacobs Asset Management LLC acquired a new position in shares of Granite Point Mortgage Trust during the second quarter valued at $13,739,000.

Shares of Granite Point Mortgage Trust (NASDAQ GPMT) remained flat at $19.07 during trading on Wednesday. 153,611 shares of the company’s stock were exchanged. The stock’s market cap is $824.49 million. The stock’s 50-day moving average price is $19.05 and its 200 day moving average price is $19.04. Granite Point Mortgage Trust has a 12 month low of $18.54 and a 12 month high of $19.30.

The business also recently announced a special dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, September 29th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 28th.

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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