Positive Press Coverage Somewhat Unlikely to Impact Granite Point Mortgage Trust (GPMT) Stock Price

News articles about Granite Point Mortgage Trust (NYSE:GPMT) have been trending positive recently, according to Accern. Accern identifies negative and positive news coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Granite Point Mortgage Trust earned a media sentiment score of 0.27 on Accern’s scale. Accern also assigned news coverage about the company an impact score of 45.9768131522025 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

Shares of Granite Point Mortgage Trust (NYSE:GPMT) traded down $0.27 during trading on Wednesday, hitting $17.83. 354,200 shares of the stock were exchanged, compared to its average volume of 389,460. Granite Point Mortgage Trust has a twelve month low of $17.02 and a twelve month high of $19.30.

A number of equities research analysts recently weighed in on GPMT shares. Bank of America reduced their price target on shares of Granite Point Mortgage Trust from $19.50 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Zacks Investment Research cut shares of Granite Point Mortgage Trust from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Compass Point started coverage on shares of Granite Point Mortgage Trust in a research note on Friday, October 27th. They issued a “buy” rating and a $19.50 price objective on the stock. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $19.50 price objective on shares of Granite Point Mortgage Trust in a research note on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.58.

In related news, major shareholder Two Harbors Investment Corp. bought 8,300 shares of the stock in a transaction on Friday, September 8th. The shares were bought at an average cost of $19.05 per share, for a total transaction of $158,115.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Roth bought 10,000 shares of the stock in a transaction on Friday, November 10th. The shares were bought at an average price of $17.56 per share, for a total transaction of $175,600.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 369,771 shares of company stock worth $6,894,956.

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Granite Point Mortgage Trust Company Profile

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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