Granite Point Mortgage Trust Inc. announced its financial results for the quarter and full year ended December 31, 2025, and provided a post-quarter update.

Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter and full year ended December 31, 2025, and provided an update on its activities subsequent to quarter-end. 

"2025 was an impactful year for Granite Point with five loan resolutions, seven full loan repayments and one REO asset sale," said Jack Taylor, President Chief Executive Officer of GPMT. "We've continued this positive momentum in 2026, as we've received two full loan repayments of $174 million and meaningfully decreased our repurchase facilities weighted average cost of financing by about 60bps and our total leverage ratio from 2.0x to 1.7x. These actions and other 2026 key objectives will help re-position our portfolio and allow us to reallocate capital in new originations later in the year."

Fourth Quarter 2025 Activity

Recognized GAAP net (loss) attributable to common stockholders of $(27.4) million, or $(0.58) per basic weighted average common share, inclusive of a provision for credit losses of $(14.4) million, or $(0.30) per basic weighted average common share.

Distributable Earnings (Loss)(1) of $(2.7) million, or $(0.06) per basic weighted average common share.

Distributable Earnings (Loss) Before Realized Gains and Losses(1) of $(3.0) million, or $(0.06) per basic weighted average common share.

Book value per common share was $7.29, inclusive of $(3.12) per common share of total CECL reserve.

Declared common stock dividend of $0.05 per common share and a cash dividend of $0.4375 per share of its Series A preferred stock.

Net loan portfolio activity of $(30.2) million in unpaid principal balance.

$(45.0) million in loan repayments, including a full repayment of a $(32.7) million loan secured by a multifamily property located North Carolina.

$14.7 million in fundings(2).

Carried at quarter-end a 97% floating rate loan portfolio with $1.8 billion in total loan commitments comprised of over 99% senior loans, with a portfolio weighted average stabilized LTV at origination(3) of 65.0% and a realized loan portfolio yield(4) of 6.7%.

Total CECL reserve of $148.4 million, or 8.4% of total loan portfolio commitments.

Weighted average loan portfolio risk-rating was 2.9.

Held two REO(5) properties with an aggregate carrying value of $98.0 million(6).

Carrying value inclusive of an impairment loss of $(6.8) million.

Further reduced the secured credit facility by $7.5 million.

Refinanced Maynard, MA, REO with a first mortgage loan payable of $18.0 million and a financing spread of S+3.05%.

Ended the quarter with $66.0 million in unrestricted cash and Total Leverage Ratio(7) of 2.0x.

Full Year 2025 Activity

Recognized GAAP net (loss) attributable to common stockholders of $(55.6) million, or $(1.16) per basic common share.

Distributable Earnings (Loss)(1) of $(94.6) million, or $(1.98) per basic weighted average common share.

Distributable Earnings (Loss) Before Realized Gains and Losses(1) of $(7.2) million, or $(0.15) per basic weighted average common share.

Recorded a decrease to the allowance for credit losses of $(52.6) million, for a total allowance of credit losses of $148.4 million, or approximately 8.4% of total loan commitments of $1.8 billion.

Realized $(468.7) million of total UPB in loan repayments and resolutions.

Funded $50.7 million of prior loan commitments, upsizes and other investments in loans held-for-investment.

Repurchased 2,128,784 shares of common stock at a weighted average purchase price of $2.63 for an aggregate purchase amount of $5.7 million.

Post Quarter-End Update

So far in Q1'26, funded about $5.9 million on existing loan commitments and received two full loan repayments of $(174.3) million.

Reduced repurchase facilities weighed average cost of funds from S+3.08% at December 31, 2025, to approx. S+2.49%. Decreasing our Total Leverage Ratio(7) from 2.0x at December 31, 2025, to approx. 1.7x.

As of February 9, 2026, carried approximately $55.1 million in unrestricted cash.

Conference Call

Granite Point Mortgage Trust Inc. will host a conference call on February 12, 2026, at 11:00 a.m. ET to discuss fourth quarter and full year 2025 financial results and related information.

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