News coverage about Granite Point Mortgage Trust (NYSE:GPMT) has trended somewhat positive on Saturday, Accern reports. The research group identifies negative and positive press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Granite Point Mortgage Trust earned a news impact score of 0.21 on Accern’s scale. Accern also gave media headlines about the company an impact score of 46.3376110866892 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Shares of Granite Point Mortgage Trust (NYSE:GPMT) opened at $17.52 on Friday. 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 P/E ratio of 19.25.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.68%. The ex-dividend date is Thursday, December 28th. Granite Point Mortgage Trust’s dividend payout ratio (DPR) is presently 76.92%.
GPMT has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Granite Point Mortgage Trust from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, September 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $19.50 price target on shares of Granite Point Mortgage Trust in a report on Thursday, October 12th. Compass Point initiated coverage on shares of Granite Point Mortgage Trust in a report on Friday, October 27th. They set a “buy” rating and a $19.50 price target for the company. Finally, Bank of America cut their price target on shares of Granite Point Mortgage Trust from $19.50 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $19.58.
In related news, Director Brian Taylor acquired 5,600 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average price of $17.87 per share, with a total value of $100,072.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Two Harbors Investment Corp. acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The stock was bought at an average cost of $18.56 per share, with a total value of $928,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 139,570 shares of company stock valued at $2,547,527.
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About Granite Point Mortgage Trust
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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