Granite Point Mortgage Trust Inc. (GPMT) Form 8-K — Aug 5, 2026
Granite Point Mortgage Trust (NYSE: GPMT) reported a second quarter 2026 GAAP net loss attributable to common stockholders of $62.0 million, or $1.29 per share, more than triple the $17.0 million loss a year earlier, driven by a $47.0 million provision for credit losses, $29.7 million of write-offs, and a $6.1 million REO impairment. Credit stress deepened: the total CECL reserve climbed to $165.8 million, or 11.4% of the $1.5 billion loan portfolio (up from 9.4% the prior quarter), book value per share fell to $5.70 from $7.05 at the end of Q1, and five risk-rated '5' loans carry $252.9 million of unpaid principal balance.
Key figures
- Total Debt
- 956000000
- Total Assets
- 1462754000
- Cash Position
- 58500000
- Write offs
- -$29.7 million
- Cecl reserve
- $165.8 million, or 11.4% of total loan portfolio commitments (9.4% prior quarter)
- Reo carrying value
- $90.7 million across 2 assets
- Shares outstanding
- 48198166
- Net interest income
- $4.8 million vs $8.0 million year-ago
- Net interest spread
- -1.2% (6.0% asset yield vs 7.2% cost of funds)
- Reo impairment loss
- -$6.1 million
- Total leverage ratio
- 1.9x
- Total interest income
- $21.8 million
- Risk rated 5 loans upb
- $252.9 million across 5 loans, ~47.4% specific reserves
- Total loan commitments
- $1.5 billion across 38 loans, 100% senior, 97% floating rate
- Clo refi cost reduction
- 38 bps (S+2.38% to S+2.00%) on $521 million of CLO balances; JPMorgan facility ~$651 million at S+2.17%
- Annualized dividend yield
- 13.3% (based on $1.50 close on 6/30/2026)
- Common dividend per share
- 0.05
- Book value per common share
- 5.70 (from 7.05 at 3/31/2026 and 7.99 at 6/30/2025)
- Distributable earnings loss
- -$37.7 million (-$0.79 per share)
- Net loan portfolio activity
- -$121.8 million UPB (-$129.8 million repayments/resolutions, +$8.0 million fundings)
- Provision for credit losses
- -$47.0 million vs -$11.0 million in Q2 2025
- Unrestricted cash aug 3 2026
- $35.7 million
- Realized loan portfolio yield
- 6.0%
- Gaap net loss per share q2 2026
- -$1.29 vs -$0.35 in Q2 2025
- Series a preferred dividend per share
- 0.4375
- Gaap net loss attributable to common q2 2026
- -$62.0 million (total net loss -$58.4 million)
- Distributable earnings before realized losses
- -$4.9 million (-$0.10 per share)
- Weighted average stabilized ltv at origination
- 66.1%
Price after filing
Close on the filing date to close N calendar days later (from $1.45). Historical, not a forecast.
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.