Granite Point Mortgage Trust Inc.

Granite Point Mortgage Trust Inc. announced a revised Director Compensation Policy, effective June 4, 2026, which introduces a long-term cash award alongside restricted stock units to limit equity dilution. The policy sets annual cash retainers and equity/cash awards for independent directors and the Chair. Additionally, the company held its 2026 Annual Meeting of Stockholders, where all seven director nominees were elected, the advisory vote on executive compensation was approved, and Ernst & Young LLP was ratified as the independent auditor for the year ending December 31, 2026.

Granite Point Mortgage Trust Inc. reported a net loss attributable to common stockholders of $6.03 million, or $(0.13) per basic share, for the first quarter of 2026, a significant improvement from the $10.62 million loss, or $(0.22) per basic share, in the prior year period. The company's total assets decreased to $1.54 billion from $1.76 billion at year-end 2025, primarily due to a reduction in loans held-for-investment. The allowance for credit losses saw a slight increase, and the company continued to manage its portfolio through loan modifications amidst an uncertain commercial real estate market.

Granite Point Mortgage Trust Inc. reported a GAAP net loss attributable to common stockholders of $(6.0) million, or $(0.13) per share, and a Distributable Earnings (Loss) of $(3.0) million, or $(0.06) per share, for the first quarter of 2026. The company made progress in resolving legacy loans, including a $76.0 million Chicago retail loan post-quarter-end, which is expected to reduce the CECL reserve from 9.4% to 7.9%. Granite Point also repurchased $0.3 million of common stock and declared a $0.05 common stock dividend.