Granite Point Mortgage Trust Inc (GPMT) Research Coverage Started at Compass Point

Equities researchers at Compass Point initiated coverage on shares of Granite Point Mortgage Trust Inc (NASDAQ:GPMT) in a research report issued on Friday, October 27th. The firm set a “buy” rating and a $19.50 price target on the stock. Compass Point’s target price would indicate a potential upside of 9.67% from the company’s previous close.

GPMT has been the subject of a number of other reports. J P Morgan Chase & Co initiated coverage on Granite Point Mortgage Trust in a report on Tuesday, July 18th. They set an “overweight” rating and a $20.00 price target for the company. Keefe, Bruyette & Woods initiated coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued a “market perform” rating and a $19.50 target price for the company. JMP Securities initiated 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. Bank of America Corporation initiated coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research raised Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, September 20th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Granite Point Mortgage Trust presently has a consensus rating of “Buy” and an average price target of $19.58.

Granite Point Mortgage Trust (GPMT) traded down $0.02 during trading on Friday, hitting $17.78. The company had a trading volume of 1,099,989 shares, compared to its average volume of 683,303. Granite Point Mortgage Trust has a 1-year low of $17.02 and a 1-year high of $19.30.

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In other Granite Point Mortgage Trust news, major shareholder Two Harbors Investment Corp. bought 24,488 shares of Granite Point Mortgage Trust stock in a transaction on Friday, August 18th. The shares were purchased at an average cost of $19.10 per share, for a total transaction of $467,720.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have acquired 386,633 shares of company stock worth $7,298,607.

Large investors have recently added to or reduced their stakes in the stock. Bienville Capital Management LLC acquired a new position in Granite Point Mortgage Trust during the second quarter worth approximately $191,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new position in Granite Point Mortgage Trust during the second quarter worth approximately $218,000. IndexIQ Advisors LLC acquired a new position in Granite Point Mortgage Trust during the third quarter worth approximately $220,000. Sei Investments Co. acquired a new position in shares of Granite Point Mortgage Trust in the third quarter valued at approximately $225,000. Finally, Wells Fargo & Company MN acquired a new position in shares of Granite Point Mortgage Trust in the second quarter valued at approximately $393,000.

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.

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

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