UBS lowered the firm’s price target on Granite Point Mortgage (GPMT) to $2.50 from $3.50 and keeps a Buy rating on the shares. Recent macro uncertainty has led the firm to lower price targets for commercial mortgage REITs by 17% on average as it contends that the uncertainty is likely to delay the sector’s recovery.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GPMT:
- Granite Point Mortgage price target lowered to $2.50 from $2.75 at Keefe Bruyette
- Granite Point Mortgage price target lowered to $2.75 from $2.85 at Keefe Bruyette
- Granite Point Mortgage Trust Faces Financial Challenges Amidst Credit Loss Provisions and Declining Loan Portfolio
- Granite Point Highlights Mixed Sentiment in 2024 Earnings Call