Granite Point Mortgage Trust Inc. Announces Third Quarter 2026 Common and Preferred Stock Dividends and Business Update and New Loan Resolution
Granite Point Mortgage Trust (NYSE: GPMT) slashed its Q3 2026 common dividend to $0.01 per share, with CEO Jack Taylor saying the Board acted 'to preserve capital and enhance financial flexibility for capital allocation decisions.' The preferred dividend was maintained at $0.4375 per share. During the quarter the company resolved a $52.4 million loan on a Stockbridge, GA multifamily property that had been risk-rated 5 and on nonaccrual, expecting a ~$19.9 million write-off already covered by prior credit-loss reserves; it also collected two office loan repayments totaling ~$19.5 million at par and funded ~$7.1 million on existing loans.
Key figures
- Expected writeoff
- $(19.9) million
- Refi cost reduction
- 38 basis points
- Resolved loan balance
- $52.4 million
- Office loan repayments
- $(19.5) million
- Jpmorgan facility terms
- 2-year term with three 1-year extension options
- Unrestricted cash sept14
- $32.4 million
- Common dividend per share
- 0.01
- Jpmorgan facility balance
- $651 million
- Clo weighted avg cost after
- S+2.00%
- Clo weighted avg cost before
- S+2.38%
- Funded upb on existing loans
- $7.1 million
- Preferred dividend per share
- 0.4375
- Clo outstanding balance june30
- $521 million
- Jpmorgan facility weighted avg cost
- S+2.17%
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.