Raymond James Remains a Buy on Granite Point Mortgage (GPMT)
In a report released yesterday, Stephen Laws from Raymond James reiterated a Buy rating on Granite Point Mortgage (GPMT). The company’s shares closed last Tuesday at $15.25, close to its 52-week high of $15.92.
According to TipRanks.com, Laws is a 5-star analyst with an average return of 21.0% and a 72.6% success rate. Laws covers the Financial sector, focusing on stocks such as NexPoint Real Estate ate Finance, Finance of America Companies, and Colony Credit Real Estate.
Currently, the analyst consensus on Granite Point Mortgage is a Strong Buy with an average price target of $14.25.
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Granite Point Mortgage’s market cap is currently $840.4M and has a P/E ratio of 38.90. The company has a Price to Book ratio of 0.88.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GPMT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Granite Point Mortgage Trust, Inc. operates as a real estate investment trust. It focuses primarily on directly originating, investing in and managing senior commercial mortgage loans and other debt, such as commercial real estate investments. The company was founded on April 7, 2017 and is headquartered in New York, NY.