Granite Point Mortgage Trust’s (GPMT) “Market Perform” Rating Reiterated at JMP Securities

Granite Point Mortgage Trust (NYSE:GPMT)‘s stock had its “market perform” rating reissued by investment analysts at JMP Securities in a report issued on Friday,Benzinga reports.

GPMT has been the subject of several other research reports. UBS Group raised their price objective on shares of Granite Point Mortgage Trust from $3.50 to $4.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods raised Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and raised their price target for the company from $3.00 to $3.25 in a report on Tuesday, December 10th.

Granite Point Mortgage Trust Trading Down 1.8 %

GPMT stock opened at $2.69 on Friday. Granite Point Mortgage Trust has a 1-year low of $2.46 and a 1-year high of $6.13. The business’s 50 day moving average is $3.17 and its 200-day moving average is $2.98. The firm has a market cap of $134.39 million, a P/E ratio of -0.70 and a beta of 1.86.

Institutional Trading of Granite Point Mortgage Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Penserra Capital Management LLC increased its position in shares of Granite Point Mortgage Trust by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 318,670 shares of the company’s stock worth $1,010,000 after purchasing an additional 59,520 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Granite Point Mortgage Trust by 121.4% during the third quarter. JPMorgan Chase & Co. now owns 281,251 shares of the company’s stock worth $892,000 after buying an additional 154,202 shares during the last quarter. Bank of New York Mellon Corp raised its position in Granite Point Mortgage Trust by 13.4% during the second quarter. Bank of New York Mellon Corp now owns 184,943 shares of the company’s stock worth $549,000 after acquiring an additional 21,810 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Granite Point Mortgage Trust in the third quarter valued at $506,000. Finally, Barclays PLC lifted its stake in Granite Point Mortgage Trust by 64.4% in the third quarter. Barclays PLC now owns 115,750 shares of the company’s stock valued at $367,000 after acquiring an additional 45,323 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

About Granite Point Mortgage Trust

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.