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Granite Point Mortgage Trust Inc. - GPMT STOCK NEWS

Welcome to our dedicated page for Granite Point Mortgage Trust news (Ticker: GPMT), a resource for investors and traders seeking the latest updates and insights on Granite Point Mortgage Trust stock.

Granite Point Mortgage Trust Inc. (GPMT) is a publicly traded Maryland corporation specializing in the direct origination, investment, and management of senior floating-rate commercial mortgage loans and other debt-related commercial real estate investments. The company is known for its long-term, fundamental value-oriented investment strategy, focusing on building a diversified and rigorously underwritten investment portfolio.

Granite Point's core business revolves around providing intermediate-term bridge or transitional financing solutions for various purposes, including acquisitions, recapitalizations, refinancing, and property renovations. Typically, the firm targets floating-rate senior commercial real estate loans with terms ranging from three to five years and loan sizes between $25 million and $150 million.

The company's investment approach is meticulous, assessing each loan on a case-by-case basis to ensure it meets stringent credit standards and offers substantial value compared to other market opportunities. This selectivity and focus on individual loan assessment help Granite Point maintain a robust and balanced portfolio.

Recent achievements include strategic partnerships and successful completion of notable financing projects, underscoring Granite Point's commitment to fostering strong market relationships and sustaining growth. The company's financial performance is supported by its selective investment criteria and proactive management strategies, ensuring steady returns for investors.

For stakeholders and potential investors seeking current updates and in-depth information, Granite Point frequently provides news and insights related to its financial health, ongoing projects, and market activities. This transparency helps maintain investor trust and underscores the company's dedication to clear communication and responsible management.

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Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced it will release its financial results for the quarter ended March 31, 2023 after market close on May 9, 2023. A conference call to discuss these results is scheduled for May 10, 2023, at 11:00 a.m. ET. Interested parties can listen in via phone or through the company’s website. GPMT, based in New York, NY, focuses on originating and managing senior floating rate commercial mortgage loans and other debt-related investments. Investors can find more detailed information on GPMT's operations and performance on its website and the SEC's site.

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Granite Point Mortgage Trust (GPMT) announced the refinancing of approximately $269 million in senior loans, generating about $85 million in net proceeds after repaying $98 million of borrowings from a legacy CLO facility. The refinancing enhanced liquidity and improved liability efficiency. GPMT also increased its borrowing capacity on a repurchase financing facility with JPMorgan to $425 million. As of March 22, 2023, the company reported holding $218 million in unrestricted cash. CEO Jack Taylor emphasized the significance of this move in a challenging market, aiming to benefit stockholders.

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Granite Point Mortgage Trust Inc. (NYSE: GPMT) has announced a quarterly cash dividend of $0.20 per share for Q1 2023, payable on April 17, 2023, to shareholders on record as of April 3, 2023. Additionally, a dividend of $0.4375 per share will be issued for its 7.00% Series A Preferred Stock on the same date. The company specializes in originating and managing senior floating-rate commercial mortgage loans and is headquartered in New York, NY.

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Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced its 2023 Annual Meeting of Stockholders will occur virtually on June 1, 2023, at 10:00 a.m. Eastern Time. This virtual format aims to enhance accessibility for stockholders. Those eligible to vote include stockholders of record as of April 3, 2023. Participants can join via www.virtualshareholdermeeting.com/GPMT2023. A replay of the meeting will be available for one year post-event. Granite Point focuses on originating and managing senior floating rate commercial mortgage loans and is headquartered in New York.

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Granite Point Mortgage Trust (NYSE: GPMT) reported its Q4 and full-year 2022 financial results, highlighting a GAAP net loss of $(9.9) million or $(0.19) per share for Q4 and $(55.3) million or $(1.04) per share for the full year. The Distributable Earnings for the full year was $14.7 million, translating to $0.28 per share. The company declared a cash dividend of $0.20 per share and successfully closed $1 billion in loan repayments during 2022. With a diversified loan portfolio of $3.6 billion and a weighted average yield of 8.4%, Granite Point aims to protect its balance sheet amid market volatility.

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Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced it will release financial results for the year ended December 31, 2022, after market close on February 23, 2023. A conference call to discuss these results is scheduled for February 24, 2023, at 11:00 a.m. ET. Investors can participate via phone or listen online through the company’s website. Additionally, a playback of the call will be available from February 24 to March 10, 2023. Granite Point specializes in originating and managing senior floating rate commercial mortgage loans.

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Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced the tax treatment for its common and preferred stock dividends declared in 2022. The total cash distribution was $0.950 for common stock and $1.750 for preferred stock, with no part of the dividends classified as excess inclusion income. Notably, the cash dividend of $0.200 is payable on January 17, 2023, but will be reported on the 2023 Form 1099 due to its classification under specific IRS rules. Investors are urged to consult their tax advisors for personalized tax implications.

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FAQ

What is the current stock price of Granite Point Mortgage Trust (GPMT)?

The current stock price of Granite Point Mortgage Trust (GPMT) is $2.93 as of December 20, 2024.

What is the market cap of Granite Point Mortgage Trust (GPMT)?

The market cap of Granite Point Mortgage Trust (GPMT) is approximately 150.4M.

What is Granite Point Mortgage Trust Inc.?

Granite Point Mortgage Trust Inc. (GPMT) is a Maryland corporation that specializes in originating, investing in, and managing senior floating-rate commercial mortgage loans and other debt-related real estate investments.

What type of financing does Granite Point provide?

Granite Point primarily offers intermediate-term bridge or transitional financing for purposes such as acquisitions, recapitalizations, refinancing, and property renovations.

What is the typical loan size and term provided by Granite Point?

Granite Point usually targets loans ranging from $25 million to $150 million with terms of three to five years.

How does Granite Point select its investments?

Granite Point selects its investments based on rigorous credit underwriting, selectivity, and diversification, assessing each loan from a fundamental value perspective relative to market opportunities.

What recent achievements has Granite Point reported?

Granite Point has reported strategic partnerships and the successful completion of significant financing projects, demonstrating its commitment to growth and market presence.

How does Granite Point communicate with its investors?

Granite Point provides regular updates and insights on its financial performance, projects, and market activities to maintain transparency and investor trust.

What is Granite Point's investment strategy?

Granite Point follows a long-term, fundamental value-oriented investment strategy, constructing a diversified portfolio through careful loan-by-loan assessment.

How does Granite Point ensure the quality of its investment portfolio?

Granite Point ensures portfolio quality through selective investment practices, rigorous credit underwriting, and a focus on diversification.

What kind of properties does Granite Point finance?

Granite Point provides financing for a range of business plans, including lease-up, renovation, repositioning, and repurposing of commercial properties.

Where can investors find the latest news about Granite Point?

Investors can find the latest news and updates about Granite Point on their official website and through financial news platforms that cover market developments.

Granite Point Mortgage Trust Inc.

NYSE:GPMT

GPMT Rankings

GPMT Stock Data

150.37M
48.65M
2.53%
50.73%
2.45%
REIT - Mortgage
Real Estate Investment Trusts
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United States of America
NEW YORK