Granite Point Mortgage Trust Inc. — Third Quarter 2026 Earnings Summary

Granite Point Mortgage Trust Inc. reported a GAAP net loss of $60.3 million for the third quarter of 2026, driven by a $45.4 million provision for credit losses and realized write-offs. The company resolved two risk-rated '5' loans and collected full repayments on two office properties, while maintaining a $1.4 billion floating-rate loan portfolio with a 5.3% realized yield. Distributable earnings for the quarter were a loss of $33.7 million, or $6.99 per share, excluding the impact of non-cash credit provisions and realized gains or losses. Following the quarter, the company executed a one-for-ten reverse stock split and refinanced legacy debt to lower its cost of funds, ending the period with $44.7 million in unrestricted cash.