In yesterday’s Wall Street session, Granite Point Mortgage Trust Inc. (NYSE:GPMT) shares traded at $5.32, down -6.01% from the previous session.
4 analysts cover Granite Point Mortgage Trust Inc. (NYSE:GPMT), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $6.00, we find $9.50. Given the previous closing price of $5.66, this indicates a potential upside of 67.84 percent. GPMT stock price is now -18.92% away from the 50-day moving average and -40.52% away from the 200-day moving average. The market capitalization of the company currently stands at $279.46M.
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The stock has received a hold rating from 0 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $8.75 as their price target over the next twelve months.
With the price target maintained at $6, Keefe Bruyette recently Downgraded its rating from Mkt Perform to Underperform for Granite Point Mortgage Trust Inc. (NYSE: GPMT). On May 14, 2021, Credit Suisse Upgraded its previous ‘Neutral’ rating to ‘Outperform’ on the stock increasing its target price from $12 to quote $15, while ‘JMP Securities’ rates the stock as ‘Mkt Outperform’.
Insiders disposed of 140,773 shares of company stock worth roughly $0.75 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GPMT stock. A new stake in Granite Point Mortgage Trust Inc. shares was purchased by ACADIAN ASSET MANAGEMENT LLC during the first quarter worth $424,000. GREAT WEST LIFE ASSURANCE CO /CAN/ invested $356,000 in shares of GPMT during the first quarter. In the first quarter, TEACHER RETIREMENT SYSTEM OF TEXAS acquired a new stake in Granite Point Mortgage Trust Inc. valued at approximately $165,000. CUBIST SYSTEMATIC STRATEGIES, LLC acquired a new stake in GPMT for approximately $158,000. MERISTEM FAMILY WEALTH, LLC purchased a new stake in GPMT valued at around $157,000 in the second quarter. In total, there are 244 active investors with 67.30% ownership of the company’s stock.
On Wednesday morning Granite Point Mortgage Trust Inc. (NYSE: GPMT) stock kicked off with the opening price of $5.63. During the past 12 months, Granite Point Mortgage Trust Inc. has had a low of $5.45 and a high of $12.33. The fifty day moving average price for GPMT is $6.56 and a two-hundred day moving average price translates $8.94 for the stock.
The latest earnings results from Granite Point Mortgage Trust Inc. (NYSE: GPMT) was released for Jun, 2022. According to the REIT – Mortgage Company, earnings per share came in at $0.22, inline with analysts’ expectations of $0.22. This compares to $0.33 EPS in the same period last year. The net profit margin was -19.70% and return on equity was -3.70% for GPMT. The company reported revenue of $18.29 million for the quarter, compared to $22.1 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -17.23 percent. For the current quarter, analysts expect GPMT to generate $22.16M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/17/2023. Investors who held shares on 12/30/2022 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 15.04% percent yield. There was an ex-dividend date of 12/29/2022 for this dividend.
Granite Point Mortgage Trust Inc.(GPMT) 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. As of December 31, 2021, its investment portfolio includes 105 commercial real estate loan investments. Granite Point Mortgage Trust Inc. was founded in 2015 and is headquartered in New York, New York.
