GPMT reports Q1 GAAP net loss $10.6M; resolves $230M in risk-rated 5 loans

Granite Point Mortgage Trust Inc.

2025-Q1 EPS reported -$0.22

GAAP net loss $(10.6)M ($(0.22)/share); Distributable Loss $(27.7)M ($(0.57)/share).
Book value $8.24/share; CECL reserve $180.2M (8.8% of loan commitments).
Repurchased 0.9M shares at avg $2.84 for $2.5M, accreted BV $0.10/share.
Post-Q1: extended all repurchase facilities ~1 year; resolved two risk-5 loans totaling ~$132M with pre-reserved write-offs ~$36.9M.
Cash $86.3M at May 5; full payoffs on two office loans $32.1M in Q2.

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