Granite Point Mo Stock Price, News & Analysis

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.

Granite Point Mortgage Trust (NYSE: GPMT) has declared a quarterly cash dividend of $0.25 per share for Q3 2021, payable on October 19, 2021, to stockholders on record as of October 1, 2021. During the quarter, GPMT closed 5 senior floating-rate loans worth over $190 million and funded about $30 million for prior commitments. The company also reported loan repayments exceeding $215 million and repurchased approximately 1 million shares at an average price of $13.50.

Granite Point Mortgage Trust reported a GAAP net income of $14.2 million for Q2 2021, equating to $0.26 per share. Distributable Earnings reached $15.7 million or $0.29 per share. The company declared a cash dividend of $0.25 per share. As of June 30, 2021, the book value stood at $17.27 per share, with total loan commitments of $4.1 billion. Granite Point closed seven loans totaling $203.8 million during the quarter and secured $242 million in liquidity post-quarter-end.

Granite Point Mortgage Trust (NYSE: GPMT) will release its financial results for Q2 2021 on August 9, 2021, after market close. A conference call to discuss these results is scheduled for August 10, 2021, at 10:00 a.m. ET. Interested participants can join the call by calling 833-255-2835 or by listening online at www.gpmtreit.com. A playback of the call will be available from August 10 at noon ET until August 17.

Granite Point Mortgage Trust (NYSE: GPMT) announced a quarterly cash dividend of $0.25 per share for Q2 2021, payable on July 19, 2021, to stockholders of record by July 1, 2021. The Company closed six senior floating-rate commercial loans with commitments exceeding $150 million and initial fundings over $115 million, alongside generating a pipeline of loan commitments worth approximately $200 million. Additionally, Granite Point received over $415 million in loan repayments.

Granite Point Mortgage Trust (NYSE: GPMT) has successfully closed GPMT 2021-FL3, an $824 million Commercial Real Estate Collateralized Loan Obligation (CRE CLO). This private offering yielded $686 million in investment-grade securities, enabling GPMT to secure term-matched financing on a non-mark-to-market and non-recourse basis. The CLO features an initial advance rate of 83.25% with a weighted-average interest rate of LIBOR + 1.62%. This transaction enhances GPMT's funding diversity and reduces borrowing costs, affirming its position as a repeat issuer in the CRE CLO market.

Granite Point Mortgage Trust (GPMT) reported a GAAP net income of $28.0 million, or $0.51 per share, for Q1 2021, including a release of prior reserves. Distributable Earnings stood at $20.7 million ($0.38 per share). Net interest income was $27.8 million, with a book value of $17.22 per share. The company declared a $0.25 dividend per common share and reported a total portfolio commitment of $4.3 billion. Post-quarter, GPMT closed a $349 million financing and a $824 million CRE CLO, enhancing liquidity and funding opportunities.