Granite Point Q1 GAAP loss $0.72/shr; distributable earnings $0.20/shr covers dividend

Granite Point Mortgage Trust Inc.

2023-Q1 EPS reported -$0.72

GAAP net loss $(37.5)M ($(0.72)/shr) includes $(46.4)M provision for credit losses.
Distributable earnings $10.7M ($0.20/shr) covers $0.20 common dividend.
Book value $14.08/shr; CECL reserve $133M (3.8% of commitments).
Board authorized additional 5M shares repurchase; Q1 bought 1M shares for $5.1M.
Post-Q1: extended Morgan Stanley facility to June 2024 ($475M capacity); funded $4.7M, received $75.3M payoffs.

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 fiscal quarter ended March 31, 2023 results: net income $(37.5) million, EPS $(0.72) per basic share.

Period: the fiscal quarter ended March 31, 2023
Net income: $(37.5) million
EPS: $(0.72) per basic share
Result: reported results

Exact text from the filing

GAAP net (loss) (1) of $(37.5) million, or $(0.72) per basic share

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Source: SEC EDGAR

accession 0001703644-23-000072

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