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Granite Point Mortgage Trust Inc
Granite Point Mortgage Trust, Inc. operates as a real estate investment trust, which focuses on originating, investing in, and managing senior floating-rate commercial mortgage loans, other debt and debt-like commercial real estate investments. The company is headquartered in New York City, New York and currently employs 33 full-time employees. The company went IPO on 2017-06-23. The firm is focused primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt and debt-like commercial real estate investments. The Company’s investment objective is to generate attractive risk-adjusted returns over the long term, primarily through dividends, and to preserve its capital base through business cycles. The company is focused on originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like instruments secured by various types of institutional commercial properties located in markets across the United States. The firm provides intermediate-term bridge or transitional financing for a variety of purposes, including acquisitions, recapitalizations, and a range of business plans, including lease-up, renovation, repositioning and repurposing of the commercial property.
Granite Point Mortgage Trust, Inc. operates as a real estate investment trust, which focuses on originating, investing in, and managing senior floating-rate commercial mortgage loans, other debt and debt-like commercial real estate investments. The company is headquartered in New York City, New York and currently employs 33 full-time employees. The company went IPO on 2017-06-23. The firm is focused primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt and debt-like commercial real estate investments. The Company’s investment objective is to generate attractive risk-adjusted returns over the long term, primarily through dividends, and to preserve its capital base through business cycles. The company is focused on originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like instruments secured by various types of institutional commercial properties located in markets across the United States. The firm provides intermediate-term bridge or transitional financing for a variety of purposes, including acquisitions, recapitalizations, and a range of business plans, including lease-up, renovation, repositioning and repurposing of the commercial property.
Net Loss: Granite Point reported a net loss of $0.6 million, or negative $0.01 per share, for the quarter.
Portfolio Reduction: The loan portfolio declined by about $110 million, with repayments and resolutions outpacing new fundings.
Asset Resolutions: The company resolved several troubled loans, including a $50 million student housing loan and an office/retail property sale in Chicago.
Risk Ratings Improvement: Weighted average risk rating improved to 2.8 from 3.1 year-over-year, with the number and balance of top-risk (5-rated) loans meaningfully reduced.
Origination Pause: New loan originations are expected to resume in mid-2026, as the company focuses on asset resolutions and capital recycling.
Credit Facility Actions: Granite Point reduced its higher-cost secured credit facility by $7.5 million and extended its maturity, lowering its financing spread by 75 basis points.
Liquidity: The company ended the quarter with $63 million in unrestricted cash and lowered leverage from 2.1x to 1.9x.
