Welcome to our dedicated page for Granite Point Mo news (Ticker: GPMT), a resource for investors and traders seeking the latest updates and insights on Granite Point Mo stock.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) is a Maryland corporation that focuses on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments. This news page aggregates the company’s press releases and related coverage so readers can follow how its commercial real estate loan portfolio and capital structure evolve over time.
Granite Point’s news flow frequently includes quarterly financial results, dividend declarations for its common stock and 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, and detailed business updates. These updates describe loan portfolio activity such as fundings on existing commitments, full and partial loan repayments, resolutions of nonaccrual and risk-rated 5 loans, and changes in real estate owned (REO) assets, including property sales and refinancings.
Investors can also track announcements about Granite Point’s financing arrangements, including extensions of repurchase facilities and its secured credit facility, changes in financing spreads and borrowings, and amendments to key agreements such as its Master Repurchase and Securities Contract Agreement and related guarantees. Earnings releases provide insights into net interest income, provisions for or benefits from credit losses, realized loan portfolio yields, CECL reserves and non-GAAP metrics like Distributable Earnings (Loss).
In addition, Granite Point regularly announces dates and access details for its quarterly earnings conference calls and webcasts, along with references to supplemental investor presentations. By reviewing the news items on this page, followers of GPMT can see how management reports on portfolio repositioning, REO activity, share repurchases and other developments that shape the company’s commercial real estate debt platform.
Granite Point Mortgage Trust (NYSE: GPMT) has announced its Q1 2025 earnings release date for May 6, with a conference call scheduled for May 7. The company provided key business updates, including:
As of April 28, 2025, GPMT holds $74 million in unrestricted cash and has extended all repurchase facilities' maturities by approximately one year. The company has achieved $70 million in loan repayments year-to-date, including a full office loan repayment, and expects additional repayments up to $90 million, mainly from office loans.
Financial highlights include the resolution of two risk-rated "5" loans, with two more expected soon. The company projects a Q1 2025 GAAP net loss of $(10.6) million, or $(0.22) per basic share, including a $(3.8) million provision for credit losses. Estimated book value per common share stands at $8.24 as of March 31, 2025.
Granite Point Mortgage Trust (NYSE: GPMT) has declared quarterly dividends for Q1 2025, with $0.05 per common share and $0.4375 per Series A Preferred share, both payable on April 15, 2025. The company reported significant developments in Q1, including:
- Repurchased 0.8M common shares at $2.85/share ($2.3M total)
- Took REO of Miami Beach office property ($71M carrying value)
- Resolved Boston office loan through property sale ($26.1M principal)
- Funded $5.9M in existing loans
- Realized $72.6M in loan repayments
- Maintains $82.4M in unrestricted cash
The company expects write-offs of approximately $7.9M and $16.6M from the Miami and Boston properties respectively, both covered by existing credit loss allowances.
Granite Point Mortgage Trust (NYSE: GPMT) has announced its 2025 Annual Meeting of Stockholders, scheduled for June 5, 2025, at 10:00 a.m. Eastern Time. The meeting will be held virtually, accessible via www.virtualshareholdermeeting.com/GPMT2025.
Stockholders of record as of April 7, 2025 will be eligible to vote and submit questions during the virtual meeting using their 16-digit control number. The company recommends logging in fifteen minutes before the start time. A replay of the meeting will be available for one year at the same virtual address.
Granite Point Mortgage Trust (GPMT) reported its Q4 and full year 2024 financial results, highlighting significant progress in resolving nonperforming loans totaling over $340 million in 2024. The company experienced a GAAP net loss of $(42.4) million in Q4 and $(221.5) million for the full year.
Key Q4 metrics include a book value per common share of $8.47 and a declared dividend of $0.05 per common share. The company maintains a 98% floating rate loan portfolio with $2.2 billion in total loan commitments. During 2024, GPMT received twelve loan repayments of about $415 million and repurchased 2.4 million common shares at an average price of $3.16.
Post quarter-end activities include taking an office property in Miami Beach as REO with an expected net carrying value of approximately $71.0 million and resolving a Boston office property loan through a property sale.
Granite Point Mortgage Trust (NYSE: GPMT) has released its 2024 dividend tax information for common and preferred stock. For common stock, the total distribution per share for 2024 is $0.450000, consisting of quarterly payments: $0.200000 (January), $0.150000 (April), $0.050000 (July), and $0.050000 (October). For preferred Series A stock, the total distribution is $1.750000, with quarterly payments of $0.437500.
The January 2025 distributions ($0.050000 for common and $0.437500 for preferred) will be reported on 2025 Form 1099s. No portion of the 2024 dividend distributions consists of excess inclusion income, qualified dividends, capital gain distributions, or Section 199A dividends. All distributions are classified as nondividend distributions for tax purposes.
Granite Point Mortgage Trust (NYSE: GPMT) has announced it will release its financial results for Q4 and full year 2024 after market close on February 13, 2025. The company will host a conference call to discuss these results on February 14, 2025, at 11:00 a.m. ET.
Investors can participate in the teleconference by calling (877) 407-8031 (domestic) or (201) 689-8031 (international). The call will also be available via webcast on the company's website at www.gpmtreit.com. A playback option will be accessible from February 14, 2025, at 1:00 p.m. ET through February 28, 2025, via phone and the company's website.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced the passing of W. Reid Sanders, who served as a member of its Board of Directors since the company's inception in 2017. Stephen Kasnet, Chairman of the Granite Point Board of Directors, and Jack Taylor, CEO, both expressed their condolences and praised Sanders' contributions to the company. They highlighted his experience, wisdom, dedication, and business acumen, noting his significant impact on Granite Point since its founding.
Granite Point Mortgage Trust (NYSE: GPMT) has announced the appointment of two new independent directors to its Board: Patrick Halter and Lazar Nikolic, effective immediately. Halter will serve on the Compensation Committee, while Nikolic will join the Nominating and Corporate Governance Committee.
With these additions, GPMT's Board now consists of eight directors, with seven being independent. Board Chairman Stephen Kasnet highlighted Halter's experience in commercial real estate investment management and Nikolic's investment background in real estate asset classes, noting their potential contributions as the company navigates current market conditions and pursues growth opportunities.
Notably, Nikolic joins as a significant shareholder of the company, expressing confidence in the business's value and future opportunities. The appointments reflect GPMT's commitment to regular Board enhancement and refreshment to advance shareholder interests.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced a planned leadership transition where Ethan Lebowitz will succeed Steven Plust as Chief Operating Officer by May 1, 2025. Lebowitz will serve as Deputy COO until the transition becomes effective.
Plust will continue with the company as Senior Managing Director full-time until his retirement, which will be no later than December 31, 2027. In this role, he will remain active on various management committees, including the Company's Investment Committee.
The transition represents an internal promotion, with Lebowitz having been with Granite Point since its inception. The company emphasizes this appointment reflects their ability to develop leadership talent internally and maintain operational continuity.
Granite Point Mortgage Trust (NYSE: GPMT) has declared a quarterly cash dividend of $0.05 per common share and $0.4375 per Series A Preferred Stock share for Q4 2024, both payable on January 15, 2025. The company has resolved $146 million in nonaccrual loans and has an additional $135 million in the closing process.
During Q4, GPMT repurchased 1.2 million common shares at an average price of $3.45, totaling $4.0 million. The company resolved three nonaccrual loans: a $20.1 million Denver office property loan with a $(12.2) million write-off, a $93.7 million New York mixed-use property loan with a $(47.2) million write-off, and a $32.9 million Fort Lee office property loan with a $(16.7) million write-off. The company has funded $10.0 million in existing loan commitments and received $124.3 million in full principal repayments, maintaining $91.7 million in unrestricted cash.
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