News stories about Granite Point Mortgage Trust (NYSE:GPMT) have been trending positive on Tuesday, according to Accern. Accern identifies positive and negative news coverage by monitoring more than 20 million blog and news 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 news sentiment score of 0.31 on Accern’s scale. Accern also gave headlines about the company an impact score of 46.0097956888029 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Shares of NYSE:GPMT opened at $18.78 on Tuesday. The company has a market cap of $812.63 million, a P/E ratio of 14.27, a P/E/G ratio of 0.56 and a beta of 0.07. Granite Point Mortgage Trust has a 1 year low of $16.15 and a 1 year high of $19.30. The company has a debt-to-equity ratio of 0.96, a quick ratio of 35.46 and a current ratio of 35.46.
Granite Point Mortgage Trust (NYSE:GPMT) last issued its quarterly earnings results on Monday, August 6th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.38. The business had revenue of $22.84 million for the quarter, compared to the consensus estimate of $41.20 million. Granite Point Mortgage Trust had a return on equity of 6.87% and a net margin of 36.50%. analysts anticipate that Granite Point Mortgage Trust will post 1.54 EPS for the current fiscal year.
Several equities analysts have recently commented on GPMT shares. Zacks Investment Research raised Granite Point Mortgage Trust from a “strong sell” rating to a “hold” rating and set a $20.00 target price on the stock in a research report on Tuesday, May 15th. JPMorgan Chase & Co. upped their target price on Granite Point Mortgage Trust from $18.00 to $19.00 and gave the company a “$18.48” rating in a research report on Monday, July 23rd. Keefe, Bruyette & Woods downgraded Granite Point Mortgage Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, July 30th. They noted that the move was a valuation call. Finally, Compass Point reaffirmed a “buy” rating and issued a $20.00 target price on shares of Granite Point Mortgage Trust in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Granite Point Mortgage Trust presently has a consensus rating of “Hold” and a consensus target price of $19.50.
In related news, CFO Marcin Urbaszek purchased 2,500 shares of Granite Point Mortgage Trust stock in a transaction that occurred on Thursday, May 24th. The shares were acquired at an average price of $18.34 per share, with a total value of $45,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Rebecca B. Sandberg sold 1,474 shares of the stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $18.69, for a total value of $27,549.06. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.
Granite Point Mortgage Trust Company Profile
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.
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