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Dec 31, 2020
Granite Point Q4 2020 Earnings Report
Announced financial results for the quarter and full year ended December 31, 2020, and provided an update on its activities subsequent to quarter-end.
Key Takeaways
Granite Point Mortgage Trust Inc. reported a GAAP net income of $23.1 million, or $0.42 per basic share, and Distributable Earnings of $18.4 million, or $0.33 per basic share for Q4 2020. The company's net interest income was $27.4 million, and it declared a cash dividend of $0.20 per common share and a non-recurring special dividend of $0.25 per common share.
GAAP net income of $23.1 million, or $0.42 per basic share, inclusive of $0.16 release of prior CECL reserves and $(0.05) of internalization-related restructuring charges.
Distributable Earnings of $18.4 million, or $0.33 per basic share.
Net interest income declined to $27.4 million during the three months ended December 31, 2020 as compared to $33.8 million for the prior quarter.
Declared a cash dividend of $0.20 per common share and a non-recurring special dividend of $0.25 per common share.
Forward Guidance
Granite Point is becoming an internally managed company, better positioning Granite Point for the opportunities ahead and as they start pursuing new loan investments again.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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