Sign in Subscribe
Stock offerings

Granite Point Mortgage Trust Inc. Announces Quarterly Dividend, Reports Strong Momentum in Second Quarter Business Update

Strategic Insights

— 1 min read

Granite Point Mortgage Trust Inc. (NYSE: GPMT), a Maryland corporation focused on commercial mortgage lending, declared a quarterly cash dividend of $0.05 per share of common stock for the second quarter of 2025. The company also announced the resolution of two non-accrual loans, which is expected to result in a write-off of approximately $36.2 million. Additionally, Granite Point extended the maturities of its repurchase facilities by approximately one year and repurchased 1.25 million shares of its common stock at an average price of $2.48 per share.

Key Takeaways:

  • Granite Point declared a quarterly cash dividend of $0.05 per share of common stock for the second quarter of 2025.
  • The company resolved two non-accrual loans, which is expected to result in a write-off of approximately $36.2 million.
  • Granite Point extended the maturities of its repurchase facilities by approximately one year.
  • The company repurchased 1.25 million shares of its common stock at an average price of $2.48 per share.
  • As of June 16, Granite Point carried approximately $70.0 million in unrestricted cash.
  • The company expects to realize a total write-off of approximately $36.2 million due to the loan resolutions.
  • Granite Point has a strong track record of generating returns for investors, with the company's stock presenting a compelling total return opportunity.
  • The company's President and Chief Executive Officer, Jack Taylor, stated that Granite Point continues to believe that its stock offers a strong return opportunity for investors.

Statistics:

  • $0.05: Quarterly cash dividend per share of common stock
  • $36.2 million: Total expected write-off due to loan resolutions
  • $70.0 million: Unrestricted cash held by the company as of June 16, 2025
  • 1.25 million: Number of shares of common stock repurchased by the company
  • $2.48: Average price per share of common stock repurchased by the company
  • $10.7 million: Additional funding provided to existing loans during the second quarter
  • $32.4 million: Principal repayments realized by the company during the second quarter
  • 7.00%: Fixed rate for Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Sources:

  • BusinessWire: https://www.businesswire.com/news/home/20250617476263/en/
  • Securities and Exchange Commission (SEC) filing: GPMT's Annual Report on Form 10-K for the year ended December 31, 2024.

Read more