Granite Point Mortgage Trust (NYSE:GPMT) Upgraded at Keefe, Bruyette & Woods

Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) was upgraded by research analysts at Keefe, Bruyette & Woods from an "underperform" rating to a "market perform" rating in a research note issued on Tuesday, MarketBeat reports. The firm currently has a $3.25 target price on the stock, up from their previous target price of $3.00. Keefe, Bruyette & Woods' price target would suggest a potential downside of 5.52% from the stock's previous close.

Separately, UBS Group upped their price objective on shares of Granite Point Mortgage Trust from $3.50 to $4.00 and gave the stock a "buy" rating in a report on Friday, November 15th.

Granite Point Mortgage Trust Trading Up 3.3 %

Shares of GPMT stock traded up $0.11 during midday trading on Tuesday, reaching $3.44. 243,184 shares of the stock were exchanged, compared to its average volume of 427,843. Granite Point Mortgage Trust has a 1 year low of $2.46 and a 1 year high of $6.41. The firm has a market cap of $171.86 million, a PE ratio of -0.86 and a beta of 1.83. The company's 50 day moving average is $3.18 and its two-hundred day moving average is $2.99.

Institutional Trading of Granite Point Mortgage Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Granite Point Mortgage Trust by 2.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 118,793 shares of the company's stock valued at $567,000 after purchasing an additional 3,336 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Granite Point Mortgage Trust by 8.7% during the 2nd quarter. Hsbc Holdings PLC now owns 59,938 shares of the company's stock valued at $170,000 after acquiring an additional 4,805 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Granite Point Mortgage Trust by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,684 shares of the company's stock valued at $70,000 after acquiring an additional 4,807 shares during the last quarter. FMR LLC grew its stake in shares of Granite Point Mortgage Trust by 237.2% in the third quarter. FMR LLC now owns 8,296 shares of the company's stock worth $26,000 after acquiring an additional 5,836 shares during the period. Finally, Naviter Wealth LLC raised its holdings in shares of Granite Point Mortgage Trust by 53.6% during the second quarter. Naviter Wealth LLC now owns 21,500 shares of the company's stock valued at $64,000 after purchasing an additional 7,500 shares during the last quarter. 51.63% of the stock is currently owned by institutional investors.

Granite Point Mortgage Trust Company Profile

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.