Media stories about Granite Point Mortgage Trust (NASDAQ:GPMT) have trended somewhat positive this week, according to Accern. The research firm ranks the sentiment of press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Granite Point Mortgage Trust earned a media sentiment score of 0.23 on Accern’s scale. Accern also gave media coverage about the company an impact score of 45.7578214097036 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Shares of Granite Point Mortgage Trust (GPMT) traded up 0.21% on Monday, hitting $19.04. The stock had a trading volume of 346,908 shares. Granite Point Mortgage Trust has a 1-year low of $18.13 and a 1-year high of $19.26. The company’s market capitalization is $823.19 million. The firm has a 50-day moving average of $19.01 and a 200 day moving average of $19.01.
Several research firms have weighed in on GPMT. JMP Securities began coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They set an “outperform” rating and a $20.50 target price for the company. J P Morgan Chase & Co began coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They set an “overweight” rating and a $20.00 target price for the company. Keefe, Bruyette & Woods assumed coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They set a “market perform” rating and a $19.50 target price for the company. Finally, Bank of America Corporation assumed coverage on Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued a “neutral” rating for the company.
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In other Granite Point Mortgage Trust news, COO Steven Plust purchased 25,000 shares of the stock in a transaction on Wednesday, June 28th. The stock was acquired at an average cost of $19.50 per share, with a total value of $487,500.00. Following the completion of the purchase, the chief operating officer now directly owns 45,000 shares of the company’s stock, valued at approximately $877,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marcin Urbaszek purchased 5,000 shares of the stock in a transaction on Wednesday, June 28th. The stock was acquired at an average cost of $19.50 per share, with a total value of $97,500.00. Following the completion of the purchase, the chief financial officer now directly owns 18,500 shares of the company’s stock, valued at $360,750. The disclosure for this purchase can be found here. Insiders acquired 57,200 shares of company stock valued at $1,115,400 over the last three months.
About Granite Point Mortgage Trust
Granite Point Mortgage Trust Inc is focused primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt, such as commercial real estate investments. The Company formed to continue and expand the commercial real estate lending business. The Company is a long-term, fundamental value-oriented investor.
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