Raymond James Lowers Granite Point Mortgage Trust (NYSE:GPMT) to Outperform

Granite Point Mortgage Trust (NYSE:GPMT) was downgraded by investment analysts at Raymond James to an “outperform” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

Separately, Zacks Investment Research raised Granite Point Mortgage Trust from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st.

Shares of NYSE GPMT traded up $0.02 during midday trading on Tuesday, reaching $18.46. 218,000 shares of the company’s stock were exchanged, compared to its average volume of 545,450. The company has a debt-to-equity ratio of 1.44, a current ratio of 28.84 and a quick ratio of 28.84. The company has a market capitalization of $1.01 billion, a PE ratio of 13.00 and a beta of 0.39. Granite Point Mortgage Trust has a 52-week low of $17.45 and a 52-week high of $19.69. The stock’s fifty day moving average price is $19.02.



Granite Point Mortgage Trust (NYSE:GPMT) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). The firm had revenue of $27.83 million during the quarter, compared to the consensus estimate of $28.90 million. Granite Point Mortgage Trust had a net margin of 31.28% and a return on equity of 7.57%. As a group, analysts expect that Granite Point Mortgage Trust will post 1.46 EPS for the current year.

In other news, CFO Marcin Urbaszek sold 2,337 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $18.92, for a total transaction of $44,216.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Rebecca B. Sandberg sold 1,610 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $18.92, for a total value of $30,461.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,075 shares of company stock valued at $133,859. 2.00% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in shares of Granite Point Mortgage Trust by 19.3% during the first quarter. Bank of Montreal Can now owns 3,672 shares of the company’s stock valued at $69,000 after purchasing an additional 593 shares during the last quarter. Strs Ohio boosted its position in shares of Granite Point Mortgage Trust by 5.2% during the second quarter. Strs Ohio now owns 14,200 shares of the company’s stock worth $272,000 after buying an additional 700 shares during the period. 6 Meridian boosted its position in shares of Granite Point Mortgage Trust by 2.4% during the second quarter. 6 Meridian now owns 36,496 shares of the company’s stock worth $700,000 after buying an additional 844 shares during the period. Berman Capital Advisors LLC boosted its position in shares of Granite Point Mortgage Trust by 144.3% during the first quarter. Berman Capital Advisors LLC now owns 1,434 shares of the company’s stock worth $26,000 after buying an additional 847 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Granite Point Mortgage Trust by 1.1% during the first quarter. CIBC Private Wealth Group LLC now owns 82,693 shares of the company’s stock worth $1,536,000 after buying an additional 892 shares during the period. 72.45% of the stock is owned by institutional investors.

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, 2018, its investment portfolio includes 94 commercial real estate debt investments.

Further Reading: Portfolio Manager

The Fly

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.