Granite Point Mo Stock Price, News & Analysis

Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced it will release financial results for the year ended December 31, 2022, after market close on February 23, 2023. A conference call to discuss these results is scheduled for February 24, 2023, at 11:00 a.m. ET. Investors can participate via phone or listen online through the company’s website. Additionally, a playback of the call will be available from February 24 to March 10, 2023. Granite Point specializes in originating and managing senior floating rate commercial mortgage loans.

Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced the tax treatment for its common and preferred stock dividends declared in 2022. The total cash distribution was $0.950 for common stock and $1.750 for preferred stock, with no part of the dividends classified as excess inclusion income. Notably, the cash dividend of $0.200 is payable on January 17, 2023, but will be reported on the 2023 Form 1099 due to its classification under specific IRS rules. Investors are urged to consult their tax advisors for personalized tax implications.

Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced the appointment of Sheila K. McGrath as an independent board member. McGrath, a veteran in the REIT industry with over 25 years of experience, aims to enhance stockholder value through her financial expertise. The board now consists of six members, five of whom are independent. The chairman expressed confidence that her insights will benefit Granite Point's disciplined investment strategy. McGrath previously held senior roles at Evercore ISI and Keefe, Bruyette & Woods, and is an active participant in the NAREIT.

Granite Point Mortgage Trust Inc. (NYSE: GPMT) declared a quarterly cash dividend of $0.20 per share for Q4 2022, payable on January 17, 2023, to stockholders of record as of December 30, 2022. Additionally, a dividend of $0.4375 per share of the 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock was also declared, with the same payment date and record date. Granite Point, headquartered in New York, focuses on originating and managing senior floating-rate commercial mortgage loans.

Granite Point Mortgage Trust (GPMT) reported a GAAP net loss of $(29.1) million or $(0.56) per share for Q3 2022, with a significant provision for credit losses of $(35.4) million. However, distributable earnings reached $8.7 million, or $0.17 per share. The book value per share stands at $15.24, including a $(1.63) per share reserve. GPMT also declared a cash dividend of $0.25 per share. The company managed a portfolio worth $3.9 billion, mostly consisting of senior loans, and ended Q3 with over $165 million in cash. Subsequent to Q3, GPMT successfully resolved a $114.1 million non-accrual loan.

Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced it will release its financial results for the quarter ended September 30, 2022, after market close on November 8, 2022. A conference call to discuss these results will take place on November 9, 2022, at 11:00 a.m. ET. Interested participants can join the call by dialing in or listening via the company’s website. Granite Point focuses on originating and managing senior floating rate commercial mortgage loans and other debt-related investments, and is based in New York, NY.

Granite Point Mortgage Trust declared a quarterly cash dividend of $0.25 per common share for Q3 2022, payable on October 17, 2022, to stockholders of record as of October 3, 2022. Additionally, a dividend of $0.4375 per share for the Series A Preferred Stock was announced, also payable on October 17, 2022. Granite Point focuses on originating and managing senior floating-rate commercial mortgage loans and other debt investments, headquartered in New York, NY.

Granite Point Mortgage Trust (NYSE: GPMT) reported a GAAP net loss of $(17.4) million, or $(0.32) per share, for Q2 2022, impacted by a $(13.0) million loss on debt extinguishment and $(13.6) million in credit loss provisions. Distributable Earnings stood at $11.7 million, or $0.22 per share. The company declared a cash dividend of $0.25 per share and ended the quarter with a portfolio of $4.2 billion, predominantly in senior loans. Notably, cash on hand increased to over $150 million, and significant refinancing efforts have bolstered liquidity, raising over $180 million.

Granite Point Mortgage Trust Inc. (NYSE: GPMT) will release its financial results for Q2 2022 on August 8, 2022, after market close. A conference call is scheduled for August 9, 2022, at 11:00 a.m. ET to discuss these results. Interested participants can join the call by calling toll-free (833) 255-2835 or accessing it online via the company’s website. The call will be archived for playback from August 9 to August 16, 2022. Granite Point Mortgage Trust, based in New York, focuses on commercial mortgage loans and debt-like investments.