Bank of America Corporation started coverage on shares of Granite Point Mortgage Trust Inc (NASDAQ:GPMT) in a research report report published on Tuesday, July 18th, The Fly reports. The brokerage issued a neutral rating on the stock.
A number of other equities analysts have also recently issued reports on the stock. JMP Securities assumed coverage on shares of Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued an outperform rating and a $20.50 price objective for the company. Keefe, Bruyette & Woods assumed coverage on shares of Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued a market perform rating and a $19.50 price objective for the company. Finally, J P Morgan Chase & Co assumed coverage on shares of Granite Point Mortgage Trust in a research note on Tuesday, July 18th. They issued an overweight rating and a $20.00 price objective for the company.
Shares of Granite Point Mortgage Trust (NASDAQ GPMT) opened at 19.30 on Tuesday. Granite Point Mortgage Trust has a 12 month low of $18.13 and a 12 month high of $19.30. The company’s market cap is $834.44 million. The company’s 50 day moving average is $18.98 and its 200-day moving average is $18.98.
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In other news, CFO Marcin Urbaszek bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was acquired at an average price of $19.50 per share, for a total transaction of $97,500.00. Following the transaction, the chief financial officer now directly owns 18,500 shares of the company’s stock, valued at approximately $360,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Steven Plust bought 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were purchased at an average price of $19.50 per share, with a total value of $487,500.00. Following the transaction, the chief operating officer now directly owns 45,000 shares in the company, valued at $877,500. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 57,200 shares of company stock valued at $1,115,400.
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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