Credit Loss ProvisionGAAP earnings were negatively impacted by a $27.9M, or $0.55 per share, increase to CECL loan loss reserves.
Dividend CoverageDistributable earnings did not cover the reduced $0.05 placeholder dividend, indicating pressure on dividend sustainability.
Earnings PerformanceGranite Point reported a GAAP loss of $0.86 per share, falling below consensus and analyst estimates.