Granite Point Mortgage Trust ( (GPMT) ) has released its Q1 earnings. Here is a breakdown of the information Granite Point Mortgage Trust presented to its investors.
Granite Point Mortgage Trust Inc. is a Maryland-based company specializing in the origination, investment, and management of senior floating rate commercial mortgage loans and other debt-like real estate investments, operating primarily in the real estate finance sector.
In its first quarter of 2025 financial results, Granite Point Mortgage Trust reported significant activity, including loan resolutions and share repurchases, despite facing a net loss. The company highlighted progress in resolving risk-rated loans and emphasized its belief that its stock remains undervalued.
Key financial metrics from the quarter include a GAAP net loss of $10.6 million attributable to common stockholders, with a loss per basic common share of $0.22. The company also reported distributable earnings loss of $27.7 million or $0.57 per basic share. Notably, Granite Point repurchased approximately 0.9 million common shares, contributing to a book value accretion of $0.10 per share.
The company ended the quarter with $85.7 million in unrestricted cash and a total leverage ratio of 2.2x. Post quarter-end, Granite Point extended the maturities of its repurchase facilities and continued to resolve non-performing loans, maintaining a focus on strengthening its financial position.
Looking ahead, Granite Point Mortgage Trust remains focused on resolving outstanding loans and optimizing its portfolio, with management expressing confidence in the company’s strategic direction and financial health.