GPMT posts Q2 GAAP net loss of $17.4M, distributable earnings $11.7M; maintains $0.25 dividend

Granite Point Mortgage Trust Inc.

2022-Q2 EPS reported -$0.30

GAAP net loss of $17.4M ($0.32/share) includes $13M debt extinguishment loss and $13.6M credit loss provision.
Distributable earnings (non-GAAP) of $11.7M ($0.22/share); declared $0.25/common share dividend.
Book value $16.01 per share; CECL reserve ~$50.1M (1.18% of portfolio). Leverage 2.7x.
Repurchased 1.5M shares for $15.7M at avg $10.18, accretive $0.17/book value.
Post quarter-end: funded $54M, received $155M repayments; cash $132M; refinanced facilities and extended maturities.

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