JMP Securities Reiterates Market Perform Rating for Granite Point Mortgage Trust (NYSE:GPMT)

Granite Point Mortgage Trust (NYSE:GPMT)‘s stock had its “market perform” rating reaffirmed by equities research analysts at JMP Securities in a research note issued to investors on Friday,Benzinga reports.

GPMT has been the subject of several other research reports. UBS Group upped 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 upgraded shares of Granite Point Mortgage Trust from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $3.00 to $3.25 in a research report on Tuesday, December 10th.

Granite Point Mortgage Trust Price Performance

Shares of NYSE GPMT 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 firm has a market capitalization of $134.39 million, a PE ratio of -0.70 and a beta of 1.86. The business’s fifty day moving average price is $3.17 and its two-hundred day moving average price is $2.98.

Hedge Funds Weigh In On Granite Point Mortgage Trust

Several institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings 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 valued at $549,000 after acquiring an additional 21,810 shares during the period. Hsbc Holdings PLC boosted its stake in Granite Point Mortgage Trust by 8.7% during the 2nd quarter. Hsbc Holdings PLC now owns 59,938 shares of the company’s stock valued at $170,000 after purchasing an additional 4,805 shares during the period. Sei Investments Co. boosted its stake in Granite Point Mortgage Trust by 29.8% during the 2nd quarter. Sei Investments Co. now owns 52,725 shares of the company’s stock valued at $157,000 after purchasing an additional 12,100 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Granite Point Mortgage Trust by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,684 shares of the company’s stock valued at $70,000 after buying an additional 4,807 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Granite Point Mortgage Trust in the 3rd quarter worth approximately $66,000. 51.63% of the stock is currently owned by institutional investors.

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.