Media coverage about Granite Point Mortgage Trust (NYSE:GPMT) has been trending positive this week, Accern reports. The research firm rates the sentiment of press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Granite Point Mortgage Trust earned a news sentiment score of 0.28 on Accern’s scale. Accern also gave media coverage about the company an impact score of 46.3199831662326 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Shares of Granite Point Mortgage Trust (GPMT) traded down $0.03 during midday trading on Friday, reaching $17.52. 272,979 shares of the company’s stock traded hands, compared to its average volume of 472,354. Granite Point Mortgage Trust has a twelve month low of $17.02 and a twelve month high of $19.30. The firm has a market cap of $757.48 and a PE ratio of 19.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.68%. The ex-dividend date is Thursday, December 28th. Granite Point Mortgage Trust’s payout ratio is 76.92%.
A number of analysts recently commented on GPMT shares. Zacks Investment Research upgraded shares of Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $19.50 target price on shares of Granite Point Mortgage Trust in a research note on Thursday, October 12th. Compass Point initiated coverage on shares of Granite Point Mortgage Trust in a research note on Friday, October 27th. They issued a “buy” rating and a $19.50 target price for the company. Finally, Bank of America decreased their price objective on shares of Granite Point Mortgage Trust from $19.50 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Granite Point Mortgage Trust currently has an average rating of “Buy” and an average price target of $19.58.
In other news, COO Steven Plust bought 2,750 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was purchased at an average cost of $17.63 per share, with a total value of $48,482.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Marcin Urbaszek bought 3,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average cost of $17.37 per share, with a total value of $52,110.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 139,570 shares of company stock valued at $2,547,527.
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Granite Point Mortgage Trust Company Profile
Granite Point Mortgage Trust Inc is focused primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt, such as commercial real estate investments. The Company formed to continue and expand the commercial real estate lending business. The Company is a long-term, fundamental value-oriented investor.
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