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.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced the appointment of Sheila K. McGrath as an independent board member. McGrath, a veteran in the REIT industry with over 25 years of experience, aims to enhance stockholder value through her financial expertise. The board now consists of six members, five of whom are independent. The chairman expressed confidence that her insights will benefit Granite Point's disciplined investment strategy. McGrath previously held senior roles at Evercore ISI and Keefe, Bruyette & Woods, and is an active participant in the NAREIT.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) declared a quarterly cash dividend of $0.20 per share for Q4 2022, payable on January 17, 2023, to stockholders of record as of December 30, 2022. Additionally, a dividend of $0.4375 per share of the 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock was also declared, with the same payment date and record date. Granite Point, headquartered in New York, focuses on originating and managing senior floating-rate commercial mortgage loans.
Granite Point Mortgage Trust (GPMT) reported a GAAP net loss of $(29.1) million or $(0.56) per share for Q3 2022, with a significant provision for credit losses of $(35.4) million. However, distributable earnings reached $8.7 million, or $0.17 per share. The book value per share stands at $15.24, including a $(1.63) per share reserve. GPMT also declared a cash dividend of $0.25 per share. The company managed a portfolio worth $3.9 billion, mostly consisting of senior loans, and ended Q3 with over $165 million in cash. Subsequent to Q3, GPMT successfully resolved a $114.1 million non-accrual loan.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced it will release its financial results for the quarter ended September 30, 2022, after market close on November 8, 2022. A conference call to discuss these results will take place on November 9, 2022, at 11:00 a.m. ET. Interested participants can join the call by dialing in or listening via the company’s website. Granite Point focuses on originating and managing senior floating rate commercial mortgage loans and other debt-related investments, and is based in New York, NY.
Granite Point Mortgage Trust declared a quarterly cash dividend of $0.25 per common share for Q3 2022, payable on October 17, 2022, to stockholders of record as of October 3, 2022. Additionally, a dividend of $0.4375 per share for the Series A Preferred Stock was announced, also payable on October 17, 2022. Granite Point focuses on originating and managing senior floating-rate commercial mortgage loans and other debt investments, headquartered in New York, NY.
Granite Point Mortgage Trust (NYSE: GPMT) reported a GAAP net loss of $(17.4) million, or $(0.32) per share, for Q2 2022, impacted by a $(13.0) million loss on debt extinguishment and $(13.6) million in credit loss provisions. Distributable Earnings stood at $11.7 million, or $0.22 per share. The company declared a cash dividend of $0.25 per share and ended the quarter with a portfolio of $4.2 billion, predominantly in senior loans. Notably, cash on hand increased to over $150 million, and significant refinancing efforts have bolstered liquidity, raising over $180 million.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) will release its financial results for Q2 2022 on August 8, 2022, after market close. A conference call is scheduled for August 9, 2022, at 11:00 a.m. ET to discuss these results. Interested participants can join the call by calling toll-free (833) 255-2835 or accessing it online via the company’s website. The call will be archived for playback from August 9 to August 16, 2022. Granite Point Mortgage Trust, based in New York, focuses on commercial mortgage loans and debt-like investments.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced a quarterly cash dividend of $0.25 per share for Q2 2022, payable on July 15, 2022, to stockholders of record as of July 1, 2022. Additionally, the company declared a dividend of $0.4375 per share for its Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, also payable on July 15, 2022, to preferred stockholders of record on July 1, 2022. Granite Point primarily focuses on managing senior floating-rate commercial mortgage loans and other related investments.
Granite Point Mortgage Trust (GPMT) reported a GAAP net income of $1 million, or $0.02 per share, for Q1 2022. The results reflect a charge of $(5.8) million due to early debt extinguishment and $(3.7) million in credit loss provisions. Distributable Earnings reached $2.6 million, or $0.05 per share after a $(10.1) million loan write-off. The company declared a cash dividend of $0.25 per share and has a portfolio worth $4.2 billion, predominantly in senior loans. Recent strategic measures are aimed at enhancing earnings and mitigating impacts from rising rates.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) announced the refinancing of approximately
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