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Granite Point Mortgage Trust (GPMT) investor relations material
Granite Point Mortgage Trust Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Reported a Q4 2025 GAAP net loss attributable to common stockholders of $27.4 million, or $(0.58) per share, driven by a $14.4 million provision for credit losses and a $6.8 million REO impairment.
Achieved five loan resolutions, seven full loan repayments, one REO sale, and reduced cost of debt, with positive momentum into early 2026.
Distributable earnings (non-GAAP) for Q4 were $(2.7) million, or $(0.06) per share.
Book value per common share at year-end was $7.29, reflecting credit loss reserves.
Portfolio expected to shrink through mid-2026, with regrowth and new originations targeted for the latter half of 2026.
Financial highlights
Q4 provision for credit losses was $14.4 million; full year 2025 GAAP net loss was $(55.6) million, or $(1.16) per share.
Book value at year-end was $7.29 per share, down $0.65 from Q3, mainly due to credit loss provision and REO impairment.
Aggregate CECL reserve at year-end was $148.4 million, or 8.4% of portfolio commitments.
Q4 realized loan portfolio yield was 6.7%; annualized dividend yield was 8.3% with a $0.05 dividend per share declared.
Held $98.0 million in REO assets at year-end, including a $6.8 million impairment.
Outlook and guidance
Market momentum from 2025 has continued into early 2026, with expectations for increased transaction activity and liquidity.
Plans to reallocate capital to new loan originations later in 2026, leveraging improved cost structure and lower leverage.
Focus remains on reducing higher cost debt and progressing asset resolutions to improve net interest spread.
Unrestricted cash as of February 9, 2026, was approximately $55.1 million.
Management remains focused on portfolio repositioning and risk management.
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