Granite Point Mortgage Trust’s (NYSE:GPMT) lock-up period is set to expire on Wednesday, December 20th. Granite Point Mortgage Trust had issued 10,000,000 shares in its public offering on June 23rd. The total size of the offering was $195,000,000 based on an initial share price of $19.50. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $19.50 price objective on shares of Granite Point Mortgage Trust in a research note on Thursday, October 12th. Zacks Investment Research cut shares of Granite Point Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Compass Point assumed coverage on shares of Granite Point Mortgage Trust in a research note on Friday, October 27th. They set a “buy” rating and a $19.50 price objective for the company. Finally, Bank of America dropped their price objective on shares of Granite Point Mortgage Trust from $19.50 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $19.58.

Shares of Granite Point Mortgage Trust (NYSE:GPMT) opened at $17.79 on Wednesday. Granite Point Mortgage Trust has a 1 year low of $17.02 and a 1 year high of $19.30.

In related news, Director Brian Taylor purchased 5,600 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were bought at an average price of $17.87 per share, for a total transaction of $100,072.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Two Harbors Investment Corp. purchased 73,439 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was bought at an average price of $18.92 per share, for a total transaction of $1,389,465.88. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 361,471 shares of company stock worth $6,736,841.

Several institutional investors and hedge funds have recently made changes to their positions in GPMT. Goldman Sachs Group Inc. purchased a new position in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $45,408,000. Jacobs Asset Management LLC purchased a new position in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $13,739,000. Kennedy Capital Management Inc. purchased a new position in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $5,673,000. Empyrean Capital Partners LP purchased a new position in shares of Granite Point Mortgage Trust in the 2nd quarter valued at $5,470,000. Finally, American Century Companies Inc. purchased a new position in shares of Granite Point Mortgage Trust in the 3rd quarter valued at $4,589,000. Institutional investors own 13.47% of the company’s stock.

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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.

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