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. originates, invests in and manages senior floating-rate commercial mortgage loans and other debt and debt-like commercial real estate investments. Company news commonly covers quarterly results, loan portfolio commitments, repayments, resolutions of risk-rated loans, CECL reserves, portfolio yield, leverage and repurchase financing costs.
Updates also include common and preferred stock dividends, dividend tax information, share repurchases, unrestricted cash, annual meeting matters and business updates tied to commercial real estate credit performance. The company's reports frequently discuss bridge and transitional financing exposure, loan risk ratings and balance-sheet actions affecting its mortgage REIT portfolio.
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.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced a quarterly cash dividend of $0.25 per share for Q2 2022, payable on July 15, 2022, to stockholders of record as of July 1, 2022. Additionally, the company declared a dividend of $0.4375 per share for its Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, also payable on July 15, 2022, to preferred stockholders of record on July 1, 2022. Granite Point primarily focuses on managing senior floating-rate commercial mortgage loans and other related investments.
Granite Point Mortgage Trust (GPMT) reported a GAAP net income of $1 million, or $0.02 per share, for Q1 2022. The results reflect a charge of $(5.8) million due to early debt extinguishment and $(3.7) million in credit loss provisions. Distributable Earnings reached $2.6 million, or $0.05 per share after a $(10.1) million loan write-off. The company declared a cash dividend of $0.25 per share and has a portfolio worth $4.2 billion, predominantly in senior loans. Recent strategic measures are aimed at enhancing earnings and mitigating impacts from rising rates.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced the refinancing of approximately $590 million in senior loans from legacy funding sources, generating approximately $180 million in net proceeds. The company plans to use these proceeds for new loan investments and to repay higher-cost corporate debt. Preliminary unaudited results for Q1 2022 show estimated net income attributable to common stockholders between $0.01 and $0.03 per share. The company's book value per share is estimated at $16.37 to $16.41.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced it will release its financial results for Q1 2022 after market close on May 10, 2022. A conference call will take place on May 11, 2022, at 11:00 a.m. ET to discuss these results. Interested parties can participate by calling toll-free, and the teleconference will be available for playback from May 11 through May 18.
Granite Point focuses on originating and managing senior floating rate commercial mortgage loans and other debt-like investments.
Granite Point Mortgage Trust (NYSE: GPMT) released its Q1 2022 business updates, showcasing progress in strategic priorities and enhancing capital access. The company resolved three out of four nonaccrual loans, improving its credit profile. GPMT's forward pipeline includes over $330 million in senior floating-rate loans, with initial fundings exceeding $295 million. Notably, a $54 million office loan in Washington D.C. was resolved, resulting in a $10 million loss. As of March 18, 2022, GPMT reported $138.8 million in cash, bolstering its liquidity and investment potential.