Granite Point Mortgage Trust Inc. (NYSE:GPMT) traded today at a new 52-week high of $13.36. This new high was reached on below average trading volume as 91,000 shares traded hands, while the average 30-day volume is approximately 425,000 shares.
Granite Point Mortgage Trust Inc focuses primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt and debt-like commercial real estate investments. The company constructs its investment portfolio on a loan-by-loan basis, emphasizing rigorous credit underwriting, selectivity, and diversification, and assess each investment from a fundamental value perspective relative to other opportunities available in the market. It typically provides intermediate-term bridge or transitional financing for a variety of purposes, including acquisitions, recapitalizations, refinancing and a range of business plans, including lease-up, renovation, repositioning, and repurposing of the property.
Granite Point Mortgage Trust Inc. share prices have moved between a 52-week high of $13.36 and a 52-week low of $3.89 and are now trading 242% above that low price at $13.32 per share.
Based on a current price of $13.32, Granite Point Mortgage Trust Inc. is currently 2.2% above its average consensus analyst price target of $13.02.
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