Granite Point Mortgage Trust Inc (NYSE:GPMT) insider John A. Taylor purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The shares were acquired at an average price of $18.15 per share, for a total transaction of $72,600.00. The acquisition was disclosed in a filing with the SEC, which is available through this link.
Granite Point Mortgage Trust stock opened at $18.79 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 28.78 and a quick ratio of 35.46. Granite Point Mortgage Trust Inc has a 12-month low of $16.15 and a 12-month high of $19.33. The stock has a market capitalization of $823.06 million, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 0.57 and a beta of 0.15.
Granite Point Mortgage Trust (NYSE:GPMT) last released its quarterly earnings results on Monday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. Granite Point Mortgage Trust had a return on equity of 7.55% and a net margin of 35.88%. The business had revenue of $24.20 million during the quarter, compared to analysts’ expectations of $23.70 million. As a group, sell-side analysts predict that Granite Point Mortgage Trust Inc will post 1.53 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Granite Point Mortgage Trust in the third quarter valued at about $124,000. Commonwealth Equity Services LLC bought a new position in shares of Granite Point Mortgage Trust in the second quarter valued at about $196,000. Atria Investments LLC bought a new position in shares of Granite Point Mortgage Trust in the second quarter valued at about $203,000. Advisors Asset Management Inc. raised its holdings in shares of Granite Point Mortgage Trust by 1,219.2% in the second quarter. Advisors Asset Management Inc. now owns 315,374 shares of the company’s stock valued at $242,000 after buying an additional 291,468 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Granite Point Mortgage Trust in the third quarter valued at about $275,000. 64.81% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the stock. Compass Point reiterated a “buy” rating and set a $20.00 price target on shares of Granite Point Mortgage Trust in a research note on Tuesday, August 7th. Keefe, Bruyette & Woods downgraded shares of Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, July 30th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Granite Point Mortgage Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. BTIG Research assumed coverage on shares of Granite Point Mortgage Trust in a research note on Monday, October 8th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Granite Point Mortgage Trust from $18.00 to $19.00 and gave the company a “$18.48” rating in a research note on Monday, July 23rd. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.75.
ILLEGAL ACTIVITY WARNING: This news story was first reported by WKRB News and is owned by of WKRB News. If you are reading this news story on another site, it was illegally stolen and reposted in violation of US and international trademark & copyright law. The correct version of this news story can be accessed at https://www.wkrb13.com/2018/11/08/john-a-taylor-acquires-4000-shares-of-granite-point-mortgage-trust-inc-gpmt-stock.html.
About Granite Point Mortgage Trust
Granite Point Mortgage Trust Inc 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. As of December 31, 2017, its investment portfolio includes 61 commercial real estate debt investments.
Further Reading: Why do earnings reports matter?
Receive News & Ratings for Granite Point Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Point Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.