Granite Point Mortgage Trust (NYSE:GPMT) was upgraded by investment analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, The Fly reports.

Several other brokerages also recently weighed in on GPMT. Zacks Investment Research raised shares of Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Tuesday, October 24th. Compass Point initiated coverage on shares of Granite Point Mortgage Trust in a research report on Friday, October 27th. They set a “buy” rating and a $19.50 price target for the company. Finally, Bank of America reduced their price target on shares of Granite Point Mortgage Trust from $19.50 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $19.58.

Granite Point Mortgage Trust (GPMT) remained flat at $$17.64 during mid-day trading on Thursday. 804,417 shares of the company traded hands, compared to its average volume of 393,761. Granite Point Mortgage Trust has a 1-year low of $17.02 and a 1-year high of $19.30.

In related news, COO Steven Plust bought 2,750 shares of the business’s stock in a transaction on Monday, November 13th. The stock was acquired at an average price of $17.63 per share, with a total value of $48,482.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Brian Taylor bought 5,600 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was bought at an average cost of $17.87 per share, with a total value of $100,072.00. The disclosure for this purchase can be found here. Insiders have purchased 369,771 shares of company stock valued at $6,894,956 in the last three months.

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. bought a new stake in Granite Point Mortgage Trust in the 2nd quarter worth approximately $45,408,000. Wells Fargo & Company MN bought a new stake in Granite Point Mortgage Trust in the 2nd quarter worth approximately $393,000. American Century Companies Inc. bought a new stake in Granite Point Mortgage Trust in the 3rd quarter worth approximately $4,589,000. Empyrean Capital Partners LP bought a new stake in Granite Point Mortgage Trust in the 2nd quarter worth approximately $5,470,000. Finally, Balyasny Asset Management LLC bought a new stake in Granite Point Mortgage Trust in the 2nd quarter worth approximately $2,117,000. 13.47% of the stock is owned by institutional investors and hedge funds.

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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.

The Fly

Analyst Recommendations for Granite Point Mortgage Trust (NYSE:GPMT)

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