Granite Point Mo Stock Price, News & Analysis
Company Description
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. According to the company’s public disclosures, Granite Point constructs and manages a portfolio of loans that are primarily senior in the capital structure and tied to floating interest rates. The company is headquartered in New York, New York and its common stock and 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock trade on the New York Stock Exchange.
Granite Point’s business centers on commercial real estate finance rather than direct property management. As described in its earnings releases and SEC filings, the company’s loan portfolio consists largely of senior loans secured by commercial properties, with a high proportion of floating rate exposure. The firm also holds real estate owned (REO) assets that arise from loan resolutions, and it reports revenue and expenses related to these REO operations.
Business model and investment focus
The company states that it focuses on directly originating and investing in senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments. It has disclosed that its portfolio is comprised of over 99% senior loans and that the vast majority of its loan commitments are floating rate. Granite Point has also reported that it typically provides financing to commercial real estate borrowers and that it evaluates loans based on credit quality and collateral characteristics.
Granite Point has communicated that its activities include funding existing loan commitments, receiving full and partial loan repayments, and resolving nonaccrual or higher-risk loans. In its public updates, the company has highlighted resolutions of loans secured by office, retail, hotel and student housing properties in various U.S. markets, as well as the sale or refinancing of REO properties. These activities affect the size and composition of its loan portfolio and REO holdings over time.
Capital structure and securities
Granite Point has two classes of securities listed on the NYSE: its common stock, trading under the symbol GPMT, and its 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, trading under the symbol GPMTPrA. The company’s Board of Directors has regularly declared quarterly cash dividends on both the common and Series A preferred shares, as reflected in multiple dividend announcements. These dividends are part of its stated objective to distribute a significant portion of its earnings, consistent with its status as a real estate investment trust (REIT) as described in its non-GAAP disclosures related to Distributable Earnings (Loss).
Loan portfolio characteristics and risk management
In its quarterly financial results, Granite Point has reported on the composition and risk profile of its loan portfolio. The company has disclosed that its portfolio consists predominantly of senior, floating rate loans with total loan commitments in the billions of dollars, and that it tracks metrics such as portfolio weighted average stabilized loan-to-value (LTV) at origination, realized loan portfolio yield, and weighted average loan portfolio risk-rating.
The firm records an allowance for credit losses on its loans and reports a total CECL (Current Expected Credit Loss) reserve as a percentage of total loan portfolio commitments. It also identifies loans on nonaccrual status and assigns risk ratings, including higher-risk “5” rated loans. Public updates describe the resolution of several risk-rated 5 loans, often through property sales, loan restructurings or transfers of collateral into REO. These resolutions can involve write-offs that were previously reserved for through the allowance for credit losses, sometimes resulting in a GAAP benefit from provision for credit losses.
Real estate owned (REO) and property-related activity
Granite Point’s disclosures show that, in addition to its loan portfolio, it holds REO properties obtained through loan resolutions. The company reports revenue and expenses from REO operations and occasionally notes gains or losses on REO sales. Examples disclosed include an office property in Phoenix, Arizona sold for a net sales price that generated a gain, and an office property in Miami Beach, Florida taken as REO via a negotiated transaction. The company has also reported holding multiple REO properties with aggregate carrying values in the hundreds of millions of dollars, including assets related to leases.
Through these REO activities, Granite Point manages and, when appropriate, disposes of properties that were previously collateral for nonperforming loans. The firm’s updates indicate that it may refinance REO properties with new mortgage financing or sell them, which can affect both its balance sheet composition and reported earnings.
Funding, leverage and credit facilities
Granite Point finances its loan portfolio and REO assets through a combination of repurchase facilities, securitized debt obligations and a secured credit facility. Its condensed consolidated balance sheets show borrowings under repurchase facilities, securitized debt and the secured credit facility, along with cash and cash equivalents, restricted cash and stockholders’ equity. The company reports a Total Leverage Ratio, defined as borrowings on repurchase facilities, the secured credit facility and CLOs, less cash, divided by total stockholders’ equity.
The company has disclosed that it has extended the maturities of its repurchase facilities and its secured credit facility, in some cases by approximately one year or to specific future dates. It has also reported reductions in financing spreads and decreases in borrowings under these facilities. In an 8-K filing, a wholly owned subsidiary entered into an amendment to a Master Repurchase and Securities Contract Agreement with JPMorgan Chase Bank, National Association, extending an “Additional Advance Termination Date” under that agreement, and Granite Point entered into a related amendment to its guarantee agreement.
Financial reporting and performance metrics
Granite Point reports its financial results under U.S. GAAP and also presents non-GAAP measures such as Distributable Earnings (Loss) and Distributable Earnings (Loss) Before Realized Gains and Losses. The company explains that these non-GAAP measures are intended to serve over time as a general proxy for taxable income and to help analyze the results of its core business operations. Reconciliations from GAAP net (loss) income attributable to common stockholders to Distributable Earnings (Loss) are provided in its earnings releases.
Its quarterly financial statements include condensed consolidated balance sheets and statements of comprehensive (loss) income. These statements show interest income from loans held-for-investment and cash and cash equivalents, interest expense on repurchase facilities, securitized debt obligations and the secured credit facility, as well as net interest income. They also show revenue from REO operations, provisions for or benefits from credit losses, compensation and benefits, servicing expenses, REO operating expenses and other operating expenses. The company reports net (loss) income attributable to common stockholders, basic and diluted earnings (loss) per share, and dividends declared per common share.
Investor communications and governance
Granite Point regularly communicates with investors through press releases, earnings call webcasts and supplemental presentations. It announces dates for quarterly earnings releases and conference calls, and provides dial-in details and access codes. The company also files current reports on Form 8-K to furnish earnings releases, investor presentations and information about material agreements.
As a Maryland corporation and a public company with securities registered under Section 12(b) of the Securities Exchange Act of 1934, Granite Point is subject to SEC reporting requirements. Its 8-K filings identify the company’s jurisdiction of incorporation, Commission File Number and federal tax identification number, and confirm that its common and preferred shares are listed on the NYSE.
Position within real estate finance
Based on its own description, Granite Point operates in the commercial real estate finance space, with a focus on senior floating rate commercial mortgage loans and related debt investments. While industry classifications may list it under real estate and rental and leasing categories, the company’s disclosures emphasize its role as a lender and investor in commercial real estate debt rather than as a traditional property manager. Its activities include originating and managing loans, handling credit risk through allowances and risk ratings, and managing REO assets that result from loan resolutions.
FAQs about Granite Point Mortgage Trust Inc. (GPMT)
- What does Granite Point Mortgage Trust Inc. do?
Granite Point Mortgage Trust Inc. focuses on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments. It also holds and manages real estate owned (REO) assets that arise from loan resolutions. - How does Granite Point describe its loan portfolio?
The company reports that its portfolio is comprised of over 99% senior loans, with a high proportion of floating rate exposure. It discloses total loan commitments, realized loan portfolio yields, stabilized loan-to-value ratios at origination and weighted average loan portfolio risk-ratings. - Where is Granite Point Mortgage Trust Inc. headquartered?
Granite Point states that it is headquartered in New York, New York. Its SEC filings list New York, NY as the location of its principal offices. - On which exchange does GPMT trade?
Granite Point’s common stock trades on the New York Stock Exchange under the symbol GPMT. Its 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock also trades on the NYSE under the symbol GPMTPrA. - What types of properties secure Granite Point’s loans?
In its business updates, the company has referenced loans secured by office, retail, mixed-use office and retail, hotel and student housing properties in various U.S. locations. These examples illustrate the commercial real estate collateral types in its portfolio. - What is REO in Granite Point’s business?
REO stands for "Real Estate Owned." Granite Point reports REO properties that it has taken ownership of through loan resolutions. It records revenue and expenses from REO operations and may sell or refinance these properties. - How does Granite Point finance its investments?
The company’s balance sheets show borrowings under repurchase facilities, securitized debt obligations and a secured credit facility. It reports a Total Leverage Ratio based on these borrowings, net of cash, relative to total stockholders’ equity. - What are Distributable Earnings (Loss)?
Granite Point presents Distributable Earnings (Loss) and Distributable Earnings (Loss) Before Realized Gains and Losses as non-GAAP measures. It states that these measures are intended to serve over time as a general, though imperfect, proxy for its taxable income and to help evaluate its operating performance. - Does Granite Point pay dividends?
Yes. The company’s Board of Directors has declared recurring quarterly cash dividends on its common stock and on its 7.00% Series A preferred stock, as described in multiple press releases covering first, second, third and fourth quarters of 2025. - Is Granite Point still an active public company?
Recent press releases and Form 8-K filings from 2025 and early 2026 show that Granite Point continues to report quarterly financial results, declare dividends and file current reports with the SEC. Its common and preferred shares are listed on the NYSE according to these filings.