Granite Point reports prelim Q1 net loss of $10.6M; book value $8.24; extends repo facilities

Granite Point Mortgage Trust Inc.

2025-Q1 EPS reported -$0.22

Q1 2025 GAAP net loss attributable to common stockholders estimated $(10.6)M ($0.22/share), including $(3.8)M credit loss provision.
Book value per common share estimated $8.24 as of March 31, 2025; unrestricted cash $74M as of April 28.
Extended maturities of all repurchase facilities by ~1 year: JPMorgan to July 2026, Morgan Stanley to June 2026, Citibank to April 2026.
Year-to-date realized over $70M in principal repayments; expects up to ~$90M more, primarily office loans.
Resolved two risk-rated "5" loans YTD; no new risk-rated "4" or "5" loans in Q1.

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