GPMT reports Q4 GAAP net loss $42.4M ($0.86/sh); credit provision $37.2M; BV $8.47

Granite Point Mortgage Trust Inc.

2024-FY EPS reported -$4.39

GAAP net loss Q4 $42.4M ($0.86 per share); full-year loss $221.5M ($4.39 per share).
Distributable earnings loss Q4 $98.2M ($1.98/share) including $95.2M write-offs.
Book value $8.47/sh reflects $4.12/sh CECL reserve; total CECL reserve $201M (9.2% of loans).
Post Q4: took REO Miami Beach office ($71M) and resolved Boston office loan, expecting $16.6M write-off.
Repurchased 1.2M shares Q4 at avg $3.45; unrestricted cash ~$75M as of Feb 12, 2025.

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