Granite Point Mortgage Trust (NYSE:GPMT) Upgraded by Wall Street Zen to "Hold" Rating

Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.Other analysts have also issued research reports about the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Granite Point Mortgage Trust in a report on Wednesday, October 8th. Compass Point set a $3.00 price objective on Granite Point Mortgage Trust in a research report on Thursday, October 9th. Finally, UBS Group boosted their price objective on Granite Point Mortgage Trust from $3.25 to $3.50 and gave the company a "buy" rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Granite Point Mortgage Trust has an average rating of "Hold" and an average price target of $3.08.Check Out Our Latest Stock Analysis on GPMTGranite Point Mortgage Trust Trading Up 0.7%Shares of NYSE GPMT opened at $2.78 on Friday. Granite Point Mortgage Trust has a 12-month low of $1.61 and a 12-month high of $3.66. The firm has a market capitalization of $131.80 million, a price-to-earnings ratio of -1.93 and a beta of 1.90. The firm has a 50 day moving average of $2.86 and a 200 day moving average of $2.61. Granite Point Mortgage Trust (NYSE:GPMT - Get Free Report) last released its quarterly earnings results on Wednesday, May 25th. The company reported $0.38 earnings per share for the quarter. Granite Point Mortgage Trust had a negative net margin of 39.73% and a negative return on equity of 30.39%. The business had revenue of $27.77 million for the quarter. Sell-side analysts predict that Granite Point Mortgage Trust will post -2.75 EPS for the current year. Insider Buying and SellingIn other Granite Point Mortgage Trust news, Director Lazar Nikolic purchased 3,000 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $19.61 per share, for a total transaction of $58,830.00. Following the purchase, the director directly owned 4,193 shares of the company's stock, valued at $82,224.73. This trade represents a 251.47% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.10% of the company's stock. Hedge Funds Weigh In On Granite Point Mortgage TrustHedge funds have recently modified their holdings of the stock. May Hill Capital LLC bought a new position in shares of Granite Point Mortgage Trust during the second quarter worth $28,000. B. Riley Wealth Advisors Inc. purchased a new stake in Granite Point Mortgage Trust in the 2nd quarter worth $28,000. Confluence Wealth Services Inc. bought a new position in shares of Granite Point Mortgage Trust during the 2nd quarter valued at about $29,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Granite Point Mortgage Trust during the 1st quarter valued at about $30,000. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Granite Point Mortgage Trust during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 51.63% of the company's stock. Granite Point Mortgage Trust Company Profile (Get Free Report)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.Recommended StoriesFive stocks we like better than Granite Point Mortgage TrustWhat is a SEC Filing?OpenAI's Restructuring Sets up What Could Be the Biggest IPO EverWhat is a Low P/E Ratio and What Does it Tell Investors?2 Rare Earth Stocks the U.S. Government Doesn’t Want to FailHow to Find Undervalued StocksCrowdStrike Partners With CoreWeave But Investors Sell the NewsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Granite Point Mortgage Trust Right Now?Before you consider Granite Point Mortgage Trust, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Granite Point Mortgage Trust wasn't on the list.While Granite Point Mortgage Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here