Granite Point

Nov 08, 2022

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Sep 30, 2022

Granite Point Q3 2022 Earnings Report

Announced financial results for the quarter ended September 30, 2022.

Key Takeaways

Granite Point Mortgage Trust Inc. reported a GAAP net loss of $(29.1) million, or $(0.56) per basic share, which included a $(35.4) million provision for credit losses. Distributable Earnings were $8.7 million, or $0.17 per basic share. The company closed one new multifamily loan with a total commitment of $45.0 million.

GAAP net loss of $(29.1) million, or $(0.56) per basic share, inclusive of a $(35.4) million provision for credit losses.

Distributable Earnings of $8.7 million, or $0.17 per basic share.

Book value of $15.24 per common share, inclusive of $(1.63) per common share CECL reserve.

Closed one new multifamily loan with total commitment of $45.0 million and funded $72.4 million in total UPB, including prior commitments.

Total Revenue

$18.3M

Previous year: $22.1M