Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) had its price target reduced by stock analysts at Keefe, Bruyette & Woods from $5.00 to $4.75 in a report released on Wednesday, Benzinga reports. The firm presently has an "underperform" rating on the stock. Keefe, Bruyette & Woods' target price points to a potential upside of 11.63% from the company's previous close.
Other equities research analysts have also recently issued research reports about the stock. UBS Group lowered their price target on shares of Granite Point Mortgage Trust from $6.50 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, March 20th. Raymond James lowered their price target on shares of Granite Point Mortgage Trust from $7.00 to $6.50 and set an "outperform" rating for the company in a research report on Friday, February 16th. Finally, JMP Securities cut shares of Granite Point Mortgage Trust from an "outperform" rating to a "market perform" rating in a research report on Tuesday, February 20th.
Get Our Latest Stock Report on Granite Point Mortgage Trust
Granite Point Mortgage Trust Stock Performance
GPMT traded down $0.25 during midday trading on Wednesday, hitting $4.26. The company had a trading volume of 651,865 shares, compared to its average volume of 423,814. Granite Point Mortgage Trust has a twelve month low of $3.97 and a twelve month high of $6.41. The firm's 50-day simple moving average is $4.81 and its 200-day simple moving average is $5.09. The company has a market capitalization of $216.12 million, a PE ratio of -2.84 and a beta of 1.80.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors bought a new position in Granite Point Mortgage Trust in the second quarter valued at approximately $29,000. O Dell Group LLC bought a new stake in shares of Granite Point Mortgage Trust in the fourth quarter worth $36,000. Quantbot Technologies LP bought a new stake in shares of Granite Point Mortgage Trust in the third quarter worth $32,000. Gladius Capital Management LP bought a new stake in shares of Granite Point Mortgage Trust in the fourth quarter worth $44,000. Finally, Quarry LP bought a new stake in shares of Granite Point Mortgage Trust in the second quarter worth $50,000. Institutional investors and hedge funds own 51.63% of the company's stock.
About Granite Point Mortgage Trust
(
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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.
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