BlackRock Fund Advisors has recently announced that it has increased stake in Granite Point Mortgage Trust Inc. (NYSE:GPMT) by 2.09%. After grabbing 9.05 million shares, the institutional investor is now in possession of 0.18 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 16.42% having worth around $61.48 million. Moreover, Timbercreek Investment Management.. increased its share by 29800.0 to have a control over 2.54 million shares. And Winton Capital Management Ltd. raised its holdings to 0.46 million shares by acquiring 1.37 million shares or 2.49% of the stake.
Granite Point Mortgage Trust Inc. (GPMT) concluded trading on 08/26/20 at a closing price of $6.77, with 1.14 million shares of worth about $7.72 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -5.58% during that period and on Wednesday the price saw a loss of about -5.18%. Currently the company’s common shares owned by public are about 55.16M shares, out of which, 54.11M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the GPMT stock and their offered price forecasts bring an average price target of $8.33. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $10.00 and could fall to a lowest price of $7.00. Analysts also issued an outlook of 2.70 for the Granite Point Mortgage Trust Inc. stock for next 12 months. The stock’s current price level is 18.73% above of average price target set by the analysts, while a rise to estimated low would result in gain of 3.29 for the stock. However, touching the estimated high of $10.00 would mean a gain of 32.3% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 25 times over the past 12 months. They bought 243,512 shares in 11 of the transactions. In 14 selling transactions, insiders dumped 62,416 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Thornburg Investment Income Build are the top 3 mutual funds which are holding stakes in Granite Point Mortgage Trust Inc. iShares Core S&P Small Cap ETF is currently holding 3.42 million shares of worth totaling $23.22 million. The company recently came buying 12222.0 shares which brought its stake up to 6.20% of the company’s outstanding shares. Thornburg Investment Income Build, after buying 1.42 million shares, have now control over 2.57% of the stake in the company. It holds 0.0 shares of worth $9.62 million.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) started trading at $7.07, below -$0.07 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $6.77, or with a loss of -5.18%. Stock saw a price change of -5.58% in past 5 days and over the past one month there was a price change of -1.60%. Year-to-date (YTD), GPMT shares are showing a performance of -63.17% which decreased to -63.11% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.74 but also hit the highest price of $18.97 during that period. While comparing its average daily trading volume of 1.15 million shares, we see that about 1.14 million changed hands on the day. The stock is currently trading -5.26% below its 20-day simple moving average (SMA20), while that difference is down -2.67% for SMA50 and it goes to -38.69% lower than SMA200.
BlackRock Fund Advisors acquired 9.05 million shares of Granite Point Mortgage Trust Inc. having value of about $61.48 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.18 million shares in the company valued at close to $1252409.38, or have control over 2.09% stake in the company. Granite Point Mortgage Trust Inc. (NYSE: GPMT) currently have 55.16M outstanding shares and institutions hold larger chunk of about 71.40% of that. Holding of mutual funds in the company is about 32.47% while other institutional holders and individual stake holders have control over 37.44% and 2.84% of the stake respectively.
The stock has a current market capitalization of $381.83M. It has posted earnings per share of -$0.07 in the same period. It has a debt-to-equity ratio of 3.55. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GPMT, volatility over the week remained 5.63% while standing at 5.25% over the month.
Analysts are in expectations that Granite Point Mortgage Trust Inc. (GPMT) stock would likely to be making an EPS of $0.18 in the current quarter, while forecast for next quarter ESPS is $0.23 and it is $0.96 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.07 which is $0.25 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.34 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -6.80% while it is estimated to decrease by -1.95% in next year.
Analysts at 6 brokerage firms have issued recommendations for the Granite Point Mortgage Trust Inc. (GPMT)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 6 Wall Street analysts, 1 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JMP Securities on March 26, 2020 offering a Mkt outperform rating for the stock and assigned a target price of $10 to it. Coverage by Credit Suisse stated Granite Point Mortgage Trust Inc. (GPMT) stock as a Neutral in their note to investors on January 08, 2020, suggesting a price target of $18 for the stock. On January 02, 2020, JMP Securities Downgrade their recommendations, while on August 14, 2019, Raymond James Downgrade their ratings for the stock with a price target of $20.50. Stock get a Neutral rating from JP Morgan on January 16, 2019.