Granite Point Mortgage Trust Inc. (NYSE:GPMT) COO Steven Plust Purchases 2,750 Shares

Granite Point Mortgage Trust Inc. (NYSE:GPMT) COO Steven Plust acquired 2,750 shares of Granite Point Mortgage Trust stock in a transaction dated Monday, November 13th. The stock was purchased at an average cost of $17.63 per share, with a total value of $48,482.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Granite Point Mortgage Trust Inc. (NYSE:GPMT) traded up $0.01 on Monday, reaching $17.96. 380,900 shares of the company traded hands, compared to its average volume of 390,092. Granite Point Mortgage Trust Inc. has a 52 week low of $17.02 and a 52 week high of $19.30.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bienville Capital Management LLC bought a new position in Granite Point Mortgage Trust during the second quarter valued at $191,000. Wilbanks Smith & Thomas Asset Management LLC bought a new position in Granite Point Mortgage Trust during the second quarter valued at $218,000. IndexIQ Advisors LLC bought a new position in Granite Point Mortgage Trust during the third quarter valued at $220,000. Sei Investments Co. bought a new position in Granite Point Mortgage Trust during the third quarter valued at $225,000. Finally, California State Teachers Retirement System bought a new position in Granite Point Mortgage Trust during the third quarter valued at $307,000. 13.47% of the stock is owned by institutional investors.

A number of brokerages have recently issued reports on GPMT. Zacks Investment Research cut shares of Granite Point Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Bank of America cut their target price 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. Compass Point began 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 target price for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $19.50 target price on shares of Granite Point Mortgage Trust in a research note on Thursday, October 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $19.58.

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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.

Insider Buying and Selling by Quarter for Granite Point Mortgage Trust (NYSE:GPMT)

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