Several other research firms have also commented on GPMT. Zacks Investment Research lowered 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 Granite Point Mortgage Trust in a research note on Friday, October 27th. They issued a buy rating and a $19.50 target price for the company. Finally, Bank of America dropped their target price on 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $19.58.
Granite Point Mortgage Trust (NYSE GPMT) traded up $0.23 during trading on Thursday, reaching $17.87. The company had a trading volume of 714,300 shares, compared to its average volume of 396,571. Granite Point Mortgage Trust has a 52-week low of $17.02 and a 52-week high of $19.30.
Large investors have recently made changes to their positions in the business. Bienville Capital Management LLC acquired a new stake in Granite Point Mortgage Trust during the second quarter worth about $191,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in Granite Point Mortgage Trust during the second quarter worth about $218,000. IndexIQ Advisors LLC acquired a new stake in Granite Point Mortgage Trust during the third quarter worth about $220,000. Sei Investments Co. acquired a new stake in shares of Granite Point Mortgage Trust in the third quarter valued at about $225,000. Finally, California State Teachers Retirement System acquired a new stake in shares of Granite Point Mortgage Trust in the third quarter valued at about $307,000. Institutional investors own 13.47% of the company’s stock.
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About Granite Point Mortgage Trust
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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