Granite Point posts Q3 GAAP net loss $34.6M, book value $9.25; resolves $280M+ nonaccrual loans

Granite Point Mortgage Trust Inc.

2024-Q3 EPS reported -$3.53

GAAP net loss $34.6M ($0.69/share) includes $27.9M provision for credit losses.
Distributable loss $38.0M ($0.75/share) with $44.6M loan write-offs and $8.8M recoveries.
Book value per share $9.25; CECL reserve $259M (10.5% of loan commitments).
Resolved nonaccrual loans totalling $284.7M in Q3; post-quarter-end resolved $32.9M loan with expected write-off $16.6M.
Expects to resolve >$250M additional nonaccrual loans in coming months; repurchased 0.7M shares at avg $2.73.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.