Granite Point Mortgage Trust (NYSE:GPMT) Upgraded to Hold at Wall Street Zen

Granite Point Mortgage Trust (NYSE:GPMT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts have also commented on GPMT. Keefe, Bruyette & Woods cut their price target on shares of Granite Point Mortgage Trust from $2.50 to $2.25 and set a “market perform” rating on the stock in a research note on Wednesday, April 30th. UBS Group reaffirmed a “buy” rating and issued a $3.25 target price (up previously from $2.50) on shares of Granite Point Mortgage Trust in a report on Wednesday, May 21st.

Granite Point Mortgage Trust Price Performance

Shares of GPMT stock opened at $2.38 on Friday. Granite Point Mortgage Trust has a 1 year low of $1.61 and a 1 year high of $3.66. The firm has a market capitalization of $114.97 million, a price-to-earnings ratio of -0.77 and a beta of 1.77. The business has a fifty day moving average of $2.22 and a 200 day moving average of $2.61.

Insider Buying and Selling

In other Granite Point Mortgage Trust news, Director Lazar Nikolic acquired 47,832 shares of Granite Point Mortgage Trust stock in a transaction dated Wednesday, May 21st. The stock was acquired at an average cost of $2.50 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now owns 648,594 shares in the company, valued at approximately $1,621,485. This represents a 7.96% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have bought 55,953 shares of company stock valued at $138,197 in the last quarter. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Granite Point Mortgage Trust

Several large investors have recently added to or reduced their stakes in GPMT. Cura Wealth Advisors LLC grew its holdings in shares of Granite Point Mortgage Trust by 16.8% during the 1st quarter. Cura Wealth Advisors LLC now owns 1,465,929 shares of the company’s stock valued at $3,811,000 after acquiring an additional 210,408 shares in the last quarter. Epiq Partners LLC lifted its position in Granite Point Mortgage Trust by 128.1% during the 1st quarter. Epiq Partners LLC now owns 1,241,150 shares of the company’s stock worth $3,227,000 after acquiring an additional 696,925 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Granite Point Mortgage Trust by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,200,175 shares of the company’s stock valued at $3,349,000 after buying an additional 22,335 shares during the last quarter. Gratia Capital LLC acquired a new position in shares of Granite Point Mortgage Trust during the fourth quarter valued at about $1,953,000. Finally, Acadian Asset Management LLC raised its position in shares of Granite Point Mortgage Trust by 9.4% during the first quarter. Acadian Asset Management LLC now owns 602,372 shares of the company’s stock valued at $1,565,000 after buying an additional 51,780 shares during the last quarter. 51.63% of the stock is owned by institutional investors and hedge funds.

Granite Point Mortgage Trust Company Profile

Granite Point Mortgage Trust Inc, a real estate investment trust, originates, invests in, and manages senior floating-rate commercial mortgage loans, and other debt and debt-like commercial real estate investments in the United States. The company provides intermediate-term bridge or transitional financing for various purposes, including acquisitions, recapitalizations, and refinancing, as well as a range of business plans, including lease-up, renovation, repositioning, and repurposing of the commercial property.