Granite Point Q2 GAAP net loss $17M; resolves nonperforming loans, buys back shares

Granite Point Mortgage Trust Inc.

2025-Q2 EPS reported -$0.57

GAAP net loss attributable to common stockholders $17.0M ($0.35 per share); distributable loss $45.3M ($0.94 per share).
Book value per share $7.99; CECL reserve $155.1M (8.1% of loan commitments).
Resolved $94.1M in risk-rated 5 loans in Q2; post-quarter-end resolved $50M student housing loan expecting $19.3M write-off offset by $3.3M provision benefit.
Repurchased 1.25M common shares at avg $2.48 for $3.1M; accreted book value by $0.15 per share.
Extended secured credit facility to Dec 2026, reduced spread by 75bps; unrestricted cash $73.3M as of Aug 4.

item 2.02item 9.01

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