Granite Point Mortgage Trust (NYSE:GPMT) Given New $4.00 Price Target at UBS Group

Granite Point Mortgage Trust (NYSE:GPMT) had its price objective increased by analysts at UBS Group from $3.50 to $4.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 22.70% from the stock’s current price.

Separately, Keefe, Bruyette & Woods increased their target price on shares of Granite Point Mortgage Trust from $2.75 to $3.00 and gave the company an “underperform” rating in a research note on Tuesday, November 12th.

Granite Point Mortgage Trust Price Performance

NYSE:GPMT opened at $3.26 on Friday. Granite Point Mortgage Trust has a one year low of $2.46 and a one year high of $6.41. The company has a fifty day moving average price of $3.01 and a 200 day moving average price of $3.03. The stock has a market cap of $162.87 million, a P/E ratio of -0.84 and a beta of 1.79.

Institutional Trading of Granite Point Mortgage Trust

Several institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in Granite Point Mortgage Trust by 35.6% in the 1st quarter. BNP Paribas Financial Markets now owns 32,360 shares of the company’s stock valued at $154,000 after buying an additional 8,490 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Granite Point Mortgage Trust by 2.6% during the first quarter. Acadian Asset Management LLC now owns 1,323,871 shares of the company’s stock valued at $6,314,000 after acquiring an additional 33,474 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Granite Point Mortgage Trust by 2.9% in the 1st 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. Public Employees Retirement System of Ohio grew its holdings in shares of Granite Point Mortgage Trust by 71.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 56,189 shares of the company’s stock worth $268,000 after purchasing an additional 23,405 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Granite Point Mortgage Trust by 115.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 209,802 shares of the company’s stock worth $1,001,000 after purchasing an additional 112,523 shares in the last quarter. 51.63% of the stock is currently owned by institutional investors and hedge funds.

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.