Granite Point Q2 GAAP net income $1.4M ($0.03/sh); Pre-loss DE $0.20 covers dividend

Granite Point Mortgage Trust Inc.

2023-Q2 EPS reported -$0.69

Pre-loss Distributable Earnings $10.2M ($0.20/sh) covers $0.20/common dividend; GAAP net income $1.4M ($0.03/sh).
Book value $13.93 per share; total CECL reserve $134.6M (4.1% of portfolio), including $62.3M specific reserves.
Portfolio $3.3B commitments, >99% senior loans, 98% floating rate, weighted average stabilized LTV 62.9%, yield 8.2%.
Ended Q2 with >$235M cash; leverage 2.3x; extended Morgan Stanley/Goldman facilities to June/July 2024.
Post quarter-end: funded $9.7M, received $22.6M payoffs; extended J.P. Morgan facility to July 2025; >$225M cash.

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 0.95

Granite Point Mortgage Trust Inc. reported fiscal quarter ended June 30, 2023 results: net income GAAP net income of $1.4 million, or $0.03 per basic share, inclusive of a $(5.8) million, or $(0.11) per basic share, pr, EPS $0.03 per basic share.

Period: fiscal quarter ended June 30, 2023
Net income: GAAP net income of $1.4 million, or $0.03 per basic share, inclusive of a $(5.8) million, or $(0.11) per basic share, pr
EPS: $0.03 per basic share
Result: reported results

Exact text from the filing

Granite Point Mortgage Trust Inc. Reports Second Quarter 2023 Financial Results and Post Quarter-End Update NEW YORK, August 8, 2023 – Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending June 30, 2023, 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 0001703644-23-000105

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