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Dec 31, 2019
Granite Point Q4 2019 Earnings Report
Reported financial results for the quarter and full year ended December 31, 2019.
Key Takeaways
Granite Point Mortgage Trust Inc. reported a GAAP net income of $17.7 million, or $0.32 per basic share, and Core Earnings of $18.7 million, or $0.34 per basic share for Q4 2019. They also announced an agreement to internalize the Company’s management function.
Generated GAAP net income of $17.7 million, or $0.32 per basic share, and Core Earnings of $18.7 million, or $0.34 per basic share.
Closed 11 new loan commitments of $670.9 million, with an average loan size of $61.0 million.
Current portfolio principal balance of $4.3 billion that is over 98% floating rate and comprised of over 98% senior loans with a weighted average stabilized LTV of 64%.
Declared and paid a dividend of $0.42 per common share. Book value was $18.58 per common share as of December 31, 2019.
Forward Guidance
Granite Point anticipates continued growth and expansion of their platform with strong loan underwriting and structuring discipline, and protecting their stockholders’ capital.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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