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Mar 31, 2020
Granite Point Q1 2020 Earnings Report
Reported a GAAP net loss and core earnings, while also closing new loan commitments and funding existing ones.
Key Takeaways
Granite Point Mortgage Trust Inc. reported a GAAP net loss of $(37.2) million, or $(0.68) per basic share, and Core Earnings of $17.5 million, or $0.32 per basic share for the quarter ended March 31, 2020. The company closed on $200.4 million of new loan commitments and funded an additional $62.2 million on existing loan commitments.
Generated GAAP net loss of $(37.2) million, or $(0.68) per basic share, and Core Earnings of $17.5 million, or $0.32 per basic share.
Closed on $200.4 million of new loan commitments with initial fundings of $125.2 million.
Funded an additional $62.2 million on existing loan commitments and received prepayments and principal amortization of $108.4 million.
Portfolio has a weighted average stabilized LTV of 64% and weighted average yield at origination of LIBOR + 4.23%.
Forward Guidance
Company focused on maximizing and preserving liquidity, intensive asset management, and enhancing balance sheet stability.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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