Granite Point Mortgage Trust Inc (NYSE:GPMT) has earned an average recommendation of “Buy” from the eight research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $19.67.
Several research analysts recently commented on GPMT shares. Zacks Investment Research upgraded Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. Citigroup started coverage on Granite Point Mortgage Trust in a research note on Tuesday, March 27th. They issued a “neutral” rating and a $19.00 price target on the stock. Finally, Raymond James started coverage on Granite Point Mortgage Trust in a research note on Tuesday, March 27th. They issued a “strong-buy” rating and a $21.00 price target on the stock.
NYSE:GPMT opened at $16.48 on Friday. The company has a current ratio of 37.88, a quick ratio of 37.88 and a debt-to-equity ratio of 0.15. Granite Point Mortgage Trust has a one year low of $16.15 and a one year high of $19.30.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 18th. Shareholders of record on Thursday, March 29th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 9.22%. The ex-dividend date of this dividend was Wednesday, March 28th.
A number of hedge funds and other institutional investors have recently made changes to their positions in GPMT. Nisa Investment Advisors LLC acquired a new stake in Granite Point Mortgage Trust during the fourth quarter valued at approximately $139,000. Public Employees Retirement Association of Colorado bought a new position in shares of Granite Point Mortgage Trust during the fourth quarter valued at approximately $147,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Granite Point Mortgage Trust during the fourth quarter valued at approximately $179,000. Landscape Capital Management L.L.C. bought a new position in shares of Granite Point Mortgage Trust during the fourth quarter valued at approximately $199,000. Finally, Strs Ohio grew its holdings in shares of Granite Point Mortgage Trust by 324.1% during the fourth quarter. Strs Ohio now owns 12,300 shares of the company’s stock valued at $218,000 after purchasing an additional 9,400 shares during the last quarter. Hedge funds and other institutional investors own 67.51% 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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