Granite Point Mortgage Trust (GPMT) Company Report

Granite Point Mortgage Trust reported a GAAP net loss of $27.4 million or -$0.58 per basic common share for Q4 2025, with book value declining to $7.29 per common share at December 31st.
The aggregate CECL reserve increased to $148 million at December 31st, up from $134 million in the prior quarter, driven by increased specific reserves and worsening macroeconomic forecasts.
The company is focused on loan and REO resolutions and reducing higher cost debt in early 2026, having already repaid substantial debt for an estimated $0.10 per share annual savings and received $174 million in full loan repayments post-quarter end.
Management anticipates the portfolio balance will trend lower in the near term but expects to begin regrowing the portfolio in the latter half of 2026 by reallocating capital from resolutions and repayments.

Feb 12, 2026, 4:00 PM

Transcript

Granite Point Mortgage Trust Reports Q4 2025 Net Loss and Outlines Future Portfolio Strategy

GPMT

Earnings

Guidance Update

New Projects/Investments

Granite Point Mortgage Trust reported a GAAP net loss attributable to common stockholders of $27.4 million, or -$0.58 per basic common share, for the fourth quarter of 2025.
The company's book value at December 31st was $7.29 per common share, a decline of $0.65 per share from Q3, primarily due to a provision for credit losses and an impairment loss on an REO asset.
The aggregate CECL reserve increased to approximately $148 million at December 31st, mainly driven by an increase in specific reserves on collateral-dependent loans and worsening macroeconomic forecasts.
The loan portfolio ended the year with $1.8 billion in total commitments, with the weighted average risk rating slightly increasing to 2.9% from 2.8%.
Management expects the portfolio balance to trend lower in the near term as the focus remains on loan and REO resolutions, with plans to begin regrowing the portfolio in the latter half of 2026. Post-quarter end, the company received $174 million in full loan repayments and repaid higher cost debt, anticipating $0.10 per share in annual savings.

Feb 12, 2026, 4:00 PM

Transcript

Granite Point Mortgage Trust Reports Q4 2025 Financial Results and Outlines 2026 Strategy

GPMT

Earnings

Guidance Update

New Projects/Investments

Granite Point Mortgage Trust reported a GAAP net loss of $27.4 million, or -$0.58 per basic common share, for Q4 2025, with book value at $7.29 per common share and an increased aggregate CECL reserve of $148 million at December 31, 2025.
The company achieved $469 million in loan repayments and resolutions during 2025, including five loan resolutions, seven full loan repayments, and one REO property sale.
Post-quarter end, the company received two full loan repayments totaling $174 million and reduced its cost of repurchase facilities by approximately 60 basis points, leading to an estimated annual savings of $0.10 per share.
The portfolio's weighted average risk rating slightly increased to 2.9 from 2.8, with four risk-rated five loans totaling $249 million at year-end, including a newly downgraded $53 million multifamily loan.
Granite Point expects its portfolio balance to trend lower through mid-2026 as it focuses on loan and REO resolutions, with plans to begin regrowing the portfolio in the latter half of 2026.

Feb 12, 2026, 4:00 PM

Transcript

Granite Point Mortgage Trust Reports Q4 2025 Results

GPMT

Earnings

Dividends

Demand Weakening

For Q4 2025, Granite Point Mortgage Trust reported a GAAP Net Loss attributable to common stockholders of $(27.4) million, or $(0.58) per basic weighted average common share, and Distributable Earnings (Loss) of $(0.06) per basic weighted average common share.
The company's loan portfolio totaled $1.8 billion in commitments across 43 loans, with a total CECL reserve of $148.4 million, or 8.4% of total loan portfolio commitments as of December 31, 2025.
GPMT maintained $66.0 million in unrestricted cash, reported a Book Value per Common Share of $7.29, and had a Total Leverage Ratio of 2.0x at the end of Q4 2025.
As of February 9, 2026, subsequent to the quarter end, the company's unrestricted cash was $55.1 million, and the Total Leverage Ratio decreased to approximately 1.7x after $(174.3) million in loan repayments and $5.9 million in fundings.

Feb 12, 2026, 4:00 PM

Presentation

Granite Point Mortgage Trust Inc. Reports Q4 and Full Year 2025 Financial Results

GPMT

Earnings

Dividends

Share Buyback

For Q4 2025, Granite Point Mortgage Trust Inc. reported a GAAP net loss attributable to common stockholders of $(27.4) million, or $(0.58) per basic weighted average common share, and Distributable Earnings (Loss) of $(2.7) million, or $(0.06) per basic weighted average common share.
For the full year 2025, the company recognized a GAAP net loss attributable to common stockholders of $(55.6) million, or $(1.16) per basic common share, and Distributable Earnings (Loss) of $(94.6) million, or $(1.98) per basic weighted average common share.
As of December 31, 2025, book value per common share was $7.29, and a common stock dividend of $0.05 per common share was declared for Q4 2025.
Post quarter-end, the Total Leverage Ratio decreased from 2.0x at December 31, 2025, to approximately 1.7x, and the company received two full loan repayments of $(174.3) million in Q1 2026.
In full year 2025, Granite Point repurchased 2,128,784 shares of common stock for an aggregate amount of $5.7 million.

Feb 11, 2026, 10:05 PM

Press Release

Granite Point Mortgage Trust Inc. Reports Q4 and Full Year 2025 Financial Results

GPMT

Earnings

Dividends

Share Buyback

Granite Point Mortgage Trust Inc. reported a GAAP net loss attributable to common stockholders of $(27.4) million, or $(0.58) per basic weighted average common share, and Distributable Earnings (Loss) of $(2.7) million, or $(0.06) per basic weighted average common share for the fourth quarter ended December 31, 2025.
As of December 31, 2025, the book value per common share was $7.29, and the total CECL reserve stood at $148.4 million, or 8.4% of total loan portfolio commitments.
Post quarter-end, as of February 9, 2026, the company received two full loan repayments totaling $(174.3) million, reduced its repurchase facilities weighted average cost of financing by about 60bps, and decreased its Total Leverage Ratio from 2.0x to approximately 1.7x.

Feb 11, 2026, 10:02 PM

8-K

Granite Point Mortgage Trust Inc. Reports Q3 2025 Financial Results and Q4 2025 Business Update

GPMT

Earnings

Dividends

New Projects/Investments

Granite Point Mortgage Trust Inc. (GPMT) operates as an internally-managed commercial real estate finance REIT, focusing on originating and investing in floating-rate, first mortgage loans secured by transitional U.S. properties. As of December 31, 2025, its investment portfolio totaled $1.8 billion in commitments, with an outstanding principal balance of $1.7 billion, and a 7.5% realized loan portfolio yield.
For Q3 2025, GPMT reported a GAAP Net (Loss) attributable to common stockholders of $(0.6) million, or $(0.01) per basic weighted average common share, and Distributable Earnings (Loss) Before Realized Gains and Losses of $0.9 million, or $0.02 per basic weighted average common share.
As of September 30, 2025, the company's book value per common share was $7.94. GPMT maintains a moderately leveraged balance sheet with $582 million in equity capital and $65.3 million in unrestricted cash as of December 31, 2025, and has extended its secured credit facility maturity to December 2026.
The loan portfolio has a weighted average risk rating of 2.8, with a total CECL reserve of $133.6 million, or 7.4% of total loan commitments as of Q3 2025.

Jan 5, 2026, 9:15 PM

8-K

GPMT Reports Q3 2025 Net Loss and Targets Portfolio Regrowth in Mid-2026

GPMT

Earnings

Guidance Update

Debt Issuance

Granite Point Mortgage Trust reported a GAAP net loss of $0.6 million (negative $0.01 per basic common share) and a distributable loss of $18.9 million (negative $0.40 per basic common share) for Q3 2025.
As of September 30, 2025, the loan portfolio had $1.7 billion in outstanding principal balance, maintained a weighted average risk rating of 2.8, and generated a realized loan portfolio yield of 7.5%.
During Q3 2025, the company resolved the Louisville student housing loan, realizing $3 million above carrying value , and achieved a $3.4 million partial paydown from the sale of the office portion of a Chicago property.
GPMT reduced its secured credit facility by $7.5 million in Q3 2025 and expects an additional $7.5 million reduction in Q4 2025, which is projected to improve annual earnings by $0.03 per common share.
The company plans to continue focusing on loan and REO resolutions and maintaining liquidity, with expectations to begin regrowing its portfolio in mid-2026.

Nov 6, 2025, 4:00 PM

Transcript

GPMT Announces Q3 2025 Results

GPMT

Earnings

Dividends

Demand Weakening

GPMT reported a GAAP Net Loss of $(0.01) per basic weighted average common share and Distributable Earnings (Loss) of $(0.40) per basic weighted average common share for Q3 2025. Distributable Earnings (Loss) Before Realized Gains and Losses were $0.02 per basic weighted average common share.
The company's book value per common share was $7.94 as of September 30, 2025, and it declared a common dividend of $0.05 per share for the quarter, representing a 6.7% annualized dividend yield.
GPMT's loan portfolio commitments totaled $1.8 billion across 44 investments, with a weighted average stabilized LTV at origination of 65.0%. The total allowance for credit losses (CECL reserve) was $133.6 million, or 7.4% of total loan portfolio commitments.
The company ended Q3 2025 with $62.7 million in unrestricted cash and a 1.9x total leverage ratio. Office exposure has been reduced by $(985) million, or 57%, since 2021, with the Q3 2025 office unpaid principal balance at $738 million.

Nov 6, 2025, 4:00 PM

Presentation

Granite Point Mortgage Trust Reports Q3 2025 Results

GPMT

Earnings

Debt Issuance

Granite Point Mortgage Trust Inc. reported a GAAP net loss for Q3 2025.
The company recognized a GAAP benefit from credit losses of $1.6 million, which contributed to reducing its net loss in Q3 2025.
Granite Point Mortgage Trust extended the maturity of its secured credit facility to December 2026 and reduced the financing spread by 75 basis points to manage financing costs.