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

Brokers have set a 12 month consensus price objective of $19.75 for the company, according to Zacks. Zacks has also assigned Granite Point Mortgage Trust an industry rank of 103 out of 265 based on the ratings given to its competitors.

Several research firms have recently issued reports on GPMT. JPMorgan Chase & Co. began coverage on Granite Point Mortgage Trust in a report 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 report on Wednesday, September 20th. JMP Securities began coverage on Granite Point Mortgage Trust in a report 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 report 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 report on Tuesday, July 18th. They set a “neutral” rating on the stock.

In related news, Director William Reid Sanders acquired 10,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 17,564 shares of the company’s stock, valued at approximately $336,526.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Two Harbors Investment Corp. acquired 30,655 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was bought at an average cost of $18.84 per share, for a total transaction of $577,540.20. The disclosure for this purchase can be found here. Insiders purchased 245,662 shares of company stock worth $4,667,993 in the last quarter.

A number of large investors have recently added to or reduced their stakes in GPMT. Goldman Sachs Group Inc. purchased a new position in Granite Point Mortgage Trust in the second quarter valued at about $45,408,000. Jacobs Asset Management LLC purchased a new position in Granite Point Mortgage Trust in the second quarter valued at about $13,739,000. Kennedy Capital Management Inc. purchased a new position in Granite Point Mortgage Trust in the second quarter valued at about $5,673,000. Empyrean Capital Partners LP purchased a new position in Granite Point Mortgage Trust in the second quarter valued at about $5,470,000. Finally, Balyasny Asset Management LLC purchased a new position in Granite Point Mortgage Trust in the second quarter valued at about $2,117,000.

Granite Point Mortgage Trust (NASDAQ:GPMT) traded down 0.05% during midday trading on Friday, hitting $18.73. The company had a trading volume of 116,069 shares. The stock has a 50 day moving average of $19.12 and a 200 day moving average of $19.06. The firm’s market cap is $809.79 million. Granite Point Mortgage Trust has a 52-week low of $18.54 and a 52-week high of $19.30.

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

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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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