Granite Point Mortgage Trust (NYSE:GPMT) PT Lowered to $13.00

Granite Point Mortgage Trust (NYSE:GPMT – Get Rating) had its price objective dropped by equities research analysts at JMP Securities from $15.00 to $13.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 46.40% from the company’s current price.

Separately, Credit Suisse Group cut their target price on Granite Point Mortgage Trust to $13.00 in a research report on Friday, May 20th.

Granite Point Mortgage Trust stock opened at $8.88 on Friday. The business has a fifty day moving average of $10.25 and a two-hundred day moving average of $11.09. The firm has a market cap of $478.28 million, a P/E ratio of 12.51 and a beta of 1.37. Granite Point Mortgage Trust has a twelve month low of $8.81 and a twelve month high of $15.54.

Granite Point Mortgage Trust (NYSE:GPMT – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Granite Point Mortgage Trust had a return on equity of 3.28% and a net margin of 23.50%. During the same quarter last year, the firm posted $0.36 earnings per share. Research analysts anticipate that Granite Point Mortgage Trust will post 0.61 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPMT. Catalyst Capital Advisors LLC increased its position in shares of Granite Point Mortgage Trust by 26.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 5,580 shares of the company’s stock valued at $65,000 after acquiring an additional 1,170 shares during the period. Penserra Capital Management LLC acquired a new stake in Granite Point Mortgage Trust during the 3rd quarter worth about $84,000. Teacher Retirement System of Texas acquired a new stake in Granite Point Mortgage Trust during the 4th quarter worth about $124,000. Gyon Technologies Capital Management LP acquired a new stake in Granite Point Mortgage Trust during the 1st quarter worth about $134,000. Finally, Squarepoint Ops LLC acquired a new stake in Granite Point Mortgage Trust during the 3rd quarter worth about $140,000. 61.63% of the stock is currently owned by hedge funds and other institutional investors.

Granite Point Mortgage Trust Company Profile (Get Rating)

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.

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