Granite Point Mortgage Trust Inc (NASDAQ:GPMT) is scheduled to post its quarterly earnings results after the market closes on Monday, November 6th. Analysts expect Granite Point Mortgage Trust to post earnings of $0.34 per share for the quarter.

Granite Point Mortgage Trust Inc (GPMT) traded up 0.5000% during midday trading on Monday, hitting $18.6327. 131,510 shares of the stock traded hands. Granite Point Mortgage Trust Inc has a 12 month low of $18.13 and a 12 month high of $19.30. The firm’s market cap is $805.57 million. The company’s 50 day moving average price is $18.84 and its 200 day moving average price is $18.97.

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

In other Granite Point Mortgage Trust news, major shareholder Two Harbors Investment Corp. acquired 2,394 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was purchased at an average cost of $19.05 per share, with a total value of $45,605.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Reid Sanders acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $19.16 per share, with a total value of $191,600.00. Following the completion of the transaction, the director now directly owns 17,564 shares in the company, valued at approximately $336,526.24. The disclosure for this purchase can be found here. Insiders have purchased a total of 439,845 shares of company stock valued at $8,314,692 over the last three months.

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A number of brokerages have issued reports on GPMT. JMP Securities began coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued an “outperform” rating and a $20.50 target price for the company. Zacks Investment Research raised Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, September 20th. J P Morgan Chase & Co began coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued an “overweight” rating and a $20.00 target price for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.50 target price on shares of Granite Point Mortgage Trust in a research note on Thursday, October 12th. Finally, Compass Point began coverage on Granite Point Mortgage Trust in a research note on Friday. They issued a “buy” rating and a $19.50 target price for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Granite Point Mortgage Trust presently has an average rating of “Buy” and a consensus target price of $19.90.

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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