secwatch.observer — SEC 8-K summary
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Issuer:     Granite Point Mortgage Trust Inc. (GPMT)
CIK:        0001703644
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001703644-24-000070
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Granite Point Mortgage Trust Q1 2024 GAAP net loss $77.7M, book value $11.14
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- GAAP net loss attributable to common of $77.7M ($1.53/share), including $75.6M provision for credit losses.
- Distributable earnings (non-GAAP) were $1.3M ($0.03/share); cash dividend maintained at $0.15/share.
- Book value per share fell to $11.14, reflecting $(4.17) per share of CECL reserve.
- CECL reserve grew to $212.7M (7.5% of total commitments); portfolio 98% floating rate, 63.5% avg LTV.
- Ended quarter with >$155M unrestricted cash; post-quarter cash ~$130M; leverage ratio 2.3x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1703644/000170364424000070/0001703644-24-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1703644/000170364424000070/gpmt-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001703644-24-000070

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