GPMT

UBS Initiates Coverage of Granite Point Mortgage Trust (GPMT) with Buy Recommendation

Fintel reports that on December 6, 2023, UBS initiated coverage of Granite Point Mortgage Trust (NYSE:GPMT) with a Buy recommendation.

Analyst Price Forecast Suggests 24.05% Upside

As of November 27, 2023, the average one-year price target for Granite Point Mortgage Trust is 6.88. The forecasts range from a low of 5.30 to a high of $8.40. The average price target represents an increase of 24.05% from its latest reported closing price of 5.55.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Granite Point Mortgage Trust is 92MM. The projected annual non-GAAP EPS is 0.91.

What is the Fund Sentiment?

There are 258 funds or institutions reporting positions in Granite Point Mortgage Trust. This is an increase of 6 owner(s) or 2.38% in the last quarter. Average portfolio weight of all funds dedicated to GPMT is 0.04%, an increase of 16.99%. Total shares owned by institutions increased in the last three months by 5.25% to 27,177K shares. GPMT / Granite Point Mortgage Trust Inc Put/Call Ratios The put/call ratio of GPMT is 0.16, indicating a bullish outlook.

What are Other Shareholders Doing?

GPMT / Granite Point Mortgage Trust Inc Shares Held by Institutions

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,593K shares representing 3.09% ownership of the company. No change in the last quarter.

Millennium Management holds 1,472K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 2,045K shares, representing a decrease of 38.91%. The firm decreased its portfolio allocation in GPMT by 32.16% over the last quarter.

IWM - iShares Russell 2000 ETF holds 1,231K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 1,255K shares, representing a decrease of 1.92%. The firm decreased its portfolio allocation in GPMT by 5.49% over the last quarter.

Geode Capital Management holds 1,062K shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 1,031K shares, representing an increase of 2.91%. The firm decreased its portfolio allocation in GPMT by 3.87% over the last quarter.

Hotchkis & Wiley Capital Management holds 1,032K shares representing 2.00% ownership of the company. In it's prior filing, the firm reported owning 515K shares, representing an increase of 50.12%. The firm increased its portfolio allocation in GPMT by 88.65% over the last quarter.

Granite Point Mortgage Trust Background Information
(This description is provided by the company.)

Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing inand managing senior floating rate commercial mortgage loans and other debt and debt-like commercial realestate investments. Granite Point is headquartered in New York, NY.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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