Granite Point reports Q3 GAAP net loss $29.1M, distributable earnings $0.17/share

Granite Point Mortgage Trust Inc.

2022-Q3 EPS reported -$0.85

GAAP net loss of $29.1M ($0.56 loss per share) includes $35.4M provision for credit losses.
Distributable earnings (non-GAAP) of $8.7M, or $0.17 per basic share.
Book value $15.24 per share; declared $0.25/common dividend.
Post quarter-end: resolved $114.1M non-accrual loan; expects ~$16.5M loss (already reserved).
Portfolio $3.9B commitments, 98% floating rate, weighted avg yield LIBOR/SOFR+4.07%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Granite Point Mortgage Trust Inc. reported the quarter ended September 30, 2022 results: net income $(29.1) million, EPS $(0.56) per basic share.

Period: the quarter ended September 30, 2022
Net income: $(29.1) million
EPS: $(0.56) per basic share
Result: reported results

Exact text from the filing

Granite Point Mortgage Trust Inc. Reports Third Quarter 2022 Financial Results and Post Quarter-End Update NEW YORK, November 8, 2022 – Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ended September 30, 2022, and provided an update on its activities subsequent to quarter-end.

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Granite Point Mortgage Trust Inc. filing history →

Source: SEC EDGAR

accession 0001703644-22-000117

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