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Mar 31, 2024
Granite Point Q1 2024 Earnings Report
Reported financial results for the quarter ending March 31, 2024.
Key Takeaways
Granite Point Mortgage Trust Inc. reported a GAAP Net Loss of $(77.7) million, or $(1.53) per basic share, inclusive of a $(75.6) million provision for credit losses. Distributable Earnings were $1.3 million, or $0.03 per basic share. The company's book value per common share was $11.14 as of March 31, 2024, inclusive of $(4.17) per common share of total CECL reserve.
Recognized GAAP Net (Loss) of $(77.7) million, or $(1.53) per basic share, inclusive of a $(75.6) million provision for credit losses.
Generated Distributable Earnings of $1.3 million, or $0.03 per basic share.
Book value per common share was $11.14 as of March 31, 2024, inclusive of $(4.17) per common share of total CECL reserve.
Carried at quarter-end a 98% floating rate loan portfolio with $2.8 billion in total commitments comprised of over 99% senior loans.
Forward Guidance
The company is focused on proactive liquidity and asset management, working collaboratively with borrowers. They are positioned to resolve impaired loans and redeploy capital into new earning assets.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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