Granite Point Mortgage Trust Inc.

Granite Point Mortgage Trust Inc. reported a GAAP net loss attributable to common stockholders of $(62.0) million, or $(1.29) per basic weighted average common share, for Q2 2026. Distributable Earnings (Loss) was $(37.7) million, or $(0.79) per share. The company declared a common stock dividend of $0.05 per share and a preferred stock dividend of $0.4375 per share. Post quarter-end, the company refinanced two legacy CLOs, reducing the weighted average cost by 38 basis points.

Granite Point Mortgage Trust Inc. announced amendments to its Uncommitted Master Repurchase Agreement with JPMorgan Chase Bank, National Association. The amendments increase the maximum facility amount to $651 million and extend the maturity date to July 28, 2028, with options for further extensions. Additionally, the facility's principal payment waterfall mechanics and certain financial covenants were modified.

Granite Point Mortgage Trust Inc. amended its repurchase facilities with Morgan Stanley and Citibank. The Morgan Stanley facility's termination date was extended to June 28, 2027, and its principal payment waterfall mechanics were adjusted. Both facilities also had their "Unrestricted Cash" and "Minimum Tangible Net Worth" financial covenants modified.

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.