Granite Point Mortgage Trust (GPMT) Receiving Positive News Coverage, Analysis Finds
Press coverage about Granite Point Mortgage Trust (NASDAQ:GPMT) has trended positive this week, according to Accern Sentiment. The research firm identifies positive and negative news coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Granite Point Mortgage Trust earned a daily sentiment score of 0.31 on Accern’s scale. Accern also gave news stories about the company an impact score of 45.7063805895681 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the headlines that may have effected Accern Sentiment’s rankings:
- Insider Buying: Granite Point Mortgage Trust Inc (GPMT) Major Shareholder Purchases 66,918 Shares of Stock (americanbankingnews.com)
- Zacks: Granite Point Mortgage Trust Inc (GPMT) Given $19.75 Consensus Target Price by Analysts (americanbankingnews.com)
- Granite Point Mortgage Trust Inc. (GPMT) Ex-Dividend Date Scheduled for September 28, 2017 – Nasdaq (nasdaq.com)
- Granite Point Mortgage Trust (GPMT) vs. Dynex Capital (DX) Head to Head Review (americanbankingnews.com)
- Granite Point Mortgage Trust Inc (GPMT) Major Shareholder Acquires $150,879.90 in Stock (americanbankingnews.com)
Granite Point Mortgage Trust (GPMT) opened at 18.93 on Tuesday. The stock’s market capitalization is $818.44 million. The company’s 50-day moving average is $19.05 and its 200 day moving average is $19.04. Granite Point Mortgage Trust has a 12-month low of $18.54 and a 12-month high of $19.30.
The business also recently announced a special dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, September 29th will be issued a $0.32 dividend. The ex-dividend date is Thursday, September 28th.
GPMT has been the topic of a number of analyst reports. J P Morgan Chase & Co initiated coverage on shares of Granite Point Mortgage Trust in a report on Tuesday, July 18th. They issued an “overweight” rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods began coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They set a “market perform” rating and a $19.50 price target for the company. JMP Securities assumed coverage on Granite Point Mortgage Trust in a report on Tuesday, July 18th. They set an “outperform” rating and a $20.50 price objective for the company. Bank of America Corporation assumed 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 upgraded Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, September 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $20.25.
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In related news, major shareholder Two Harbors Investment Corp. purchased 2,394 shares of Granite Point Mortgage Trust stock in a transaction dated Thursday, August 24th. The stock was purchased at an average cost of $19.05 per share, for a total transaction of $45,605.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Reid Sanders purchased 10,000 shares of Granite Point Mortgage Trust stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $19.16 per share, with a total value of $191,600.00. Following the completion of the purchase, the director now directly owns 17,564 shares of the company’s stock, valued at $336,526.24. The disclosure for this purchase can be found here. Insiders have purchased a total of 312,580 shares of company stock worth $5,926,051 over the last three months.
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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