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 a public offering of 3,200,000 shares of its 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, aiming to raise $80 million. The offering includes an option for underwriters to purchase an additional 480,000 shares. The proceeds will be utilized for general corporate purposes such as loan originations and debt repayment. The offering is expected to close on January 25, 2022, pending customary conditions.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) has announced a public offering of additional shares of its 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, priced at $25.00 per share. This offering includes 4,596,500 previously issued shares and will be treated as a single series. Proceeds from the offering are intended for general corporate purposes such as loan originations, debt repayment, and acquisitions. The Series A Preferred Stock is listed on the NYSE under the ticker symbol 'GPMT PrA.'
Granite Point Mortgage Trust (GPMT) announced a quarterly cash dividend of $0.25 per share for Q4 2021, payable on January 18, 2022. Additionally, a dividend of $0.15096 per Series A Preferred Stock share was declared, also payable on January 18, 2022. The company closed 7 commercial real estate loans totaling over $245 million and raised $114.9 million through preferred stock issuance. GPMT repaid $75 million of its senior secured term loan, incurring a charge of $(8.9 million). As of December 15, 2021, GPMT held a cash balance of $187 million.
Granite Point Mortgage Trust announced the pricing of a public offering of 4 million shares of its 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock at $25 per share, totaling $100 million in gross proceeds. The underwriters have a 30-day option to purchase an additional 600,000 shares. The offering is expected to close on November 30, 2021. Proceeds will be used for general corporate purposes, including the partial repayment of senior secured term loans and potential asset acquisitions.
Granite Point Mortgage Trust (NYSE: GPMT) has launched a public offering of its Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, priced at $25.00 per share. The offering's net proceeds will be used mainly for repaying senior secured loans and potential asset acquisitions. GPMT plans to list the preferred stock on the NYSE under the ticker symbol 'GPMT PrA,' with trading expected to begin within 30 days of issuance. Raymond James & Associates is the sole book-running manager for the offering.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) has successfully closed GPMT 2021-FL4, a $621 million managed Commercial Real Estate Collateralized Loan Obligation (CRE CLO). This offering included $503 million in investment-grade securities, facilitating term-matched, non-mark-to-market, non-recourse financing. The CLO boasts an advance rate of 80.875% and a weighted-average interest rate of LIBOR + 1.68%. The issuance strengthens funding diversification and financing flexibility, with approximately 75% of loan-level financing now being non-mark-to-market.
Granite Point Mortgage Trust (NYSE: GPMT) reported Q3 2021 net income of $18.6 million ($0.34/share), aided by a release of $5.8 million in CECL reserves. Distributable Earnings were $5.1 million ($0.09/share), impacted by a $9.7 million write-off from a hotel loan resolution. The company declared a cash dividend of $0.25/share. As of September 30, 2021, GPMT's portfolio had a total commitment of $4.1 billion with a 63.3% weighted average stabilized loan-to-value ratio. GPMT also repurchased 1 million shares at an average price of $13.49. A conference call is scheduled for November 9, 2021.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced the pricing of its GPMT 2021-FL4, a $621 million managed Commercial Real Estate Collateralized Loan Obligation (CRE CLO). The CLO aims to place around $503 million in investment-grade securities with institutional investors, providing term-matched financing on a non-mark-to-market, non-recourse basis. The initial advance rate is set at 80.875% with a weighted-average interest rate of LIBOR + 1.68%. Closing is expected on or around November 16, 2021. This issuance will support GPMT's financing strategy while enhancing its funding mix.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) will release its financial results for the quarter ended September 30, 2021, after market close on November 8, 2021. A conference call to discuss the results is scheduled for November 9, 2021, at 10:00 a.m. ET. Interested participants can join by calling toll-free or via the company's website. The results will be archived for playback until November 16, 2021. Granite Point focuses on originating, investing in, and managing senior floating rate commercial mortgage loans and other debt-like commercial real estate investments.
Granite Point Mortgage Trust (NYSE: GPMT) announced the exercise of all outstanding warrants for approximately 4.55 million shares, settling in cash for about $32.1 million. This led to a decrease in book value per share by approximately $(0.60). The company previously settled 1.06 million shares for $7.5 million on September 30, 2021. Additionally, GPMT resolved the non-performing status of a $22 million loan and a $68 million loan, resulting in a loss of $(10.0) million. As of September 30, 2021, GPMT had approximately $155 million cash on hand.