NYSE$GPMT
Granite Point Mortgage Trust Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Announced financial results, reporting a GAAP Net Loss of $(17.1) million and a Distributable Loss of $(26.4) million.
Granite Point Mortgage Trust Inc. reported its Q4 2023 financial results, which included a GAAP Net Loss of $(17.1) million, or $(0.33) per basic share, and a Distributable Loss of $(26.4) million, or $(0.52) per basic share. The company realized $255.2 million of total UPB in loan repayments, principal paydowns, amortization and loan resolutions and ended the quarter with over $188 million in cash on hand.
- Recognized GAAP Net Loss of $(17.1) million, or $(0.33) per basic share, inclusive of a $(21.6) million provision for credit losses.
- Generated Distributable Loss of $(26.4) million, or $(0.52) per basic share, inclusive of a write-off of $(33.3) million.
- Realized $255.2 million of total UPB in loan repayments, principal paydowns, amortization and loan resolutions.
- Ended the quarter with over $188 million in cash on hand and a total leverage ratio of 2.1x.
Headline financials
Revenue & EPS history
Granite Point · Revenue · Quarterly
$62.7M
Forward guidance
The company funded $7.1 million on existing loan commitments and received $5.9 million from loan payoffs and paydowns so far in Q1 2024. As of February 9th, they carried approximately $170 million in unrestricted cash.
Tailwinds
- Funded $7.1 million on existing loan commitments in Q1 2024.
- Received $5.9 million from loan payoffs and paydowns in Q1 2024.
- Carried approximately $170 million in unrestricted cash as of February 9th.
- Increased the borrowing capacity of the JPMorgan financing facility up to $525 million.
- Modified terms of the JPMorgan financing facility, resulting in additional cash proceeds of $100 million.
Headwinds
- Challenging macro environment impacted business.
- Recognized GAAP Net Loss of $(17.1) million for Q4 2023.
- Generated Distributable Loss of $(26.4) million for Q4 2023.
- Incurred losses from the sale of a senior loan collateralized by a property in Dallas, TX.
- Incurred losses from the resolution of a senior loan secured by an office property in San Diego, CA.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-0.0%
Avg return
Earnings day
-0.9%
Avg return
5 days after
+0.3%
Avg return
30 days after
46%
16 / 35 earnings
Positive
+24.2%
Q3 2020
Best reaction
-15.1%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.3% | -0.7% | +6.3% | |
| Q4 2025 | -11.5% | -23.8% | -30.8% | |
| Q3 2025 | +4.6% | +2.6% | +3.8% | |
| Q1 2025 | +15.3% | +19.5% | +37.4% | |
| Q4 2024 | -9.1% | -10.7% | -11.3% | |
| Q3 2024 | +2.3% | +12.6% | +9.6% | |
| Q2 2024 | -8.5% | -7.1% | -6.4% | |
| Q1 2024 | -13.0% | -17.3% | -29.1% | |
| Q4 2023 | -4.3% | -7.3% | -5.7% | |
| Q3 2023 | -1.1% | -0.2% | +18.9% | |
| Q2 2023 | -1.1% | -3.6% | -5.3% | |
| Q1 2023 | +3.2% | +4.9% | +27.3% | |
| Q4 2022 | +0.0% | -0.7% | -18.6% | |
| Q3 2022 | -15.1% | -9.6% | -9.7% | |
| Q2 2022 | +1.1% | -1.7% | -13.9% | |
| Q1 2022 | +1.7% | +2.8% | +11.0% | |
| Q4 2021 | -1.2% | -2.9% | +0.6% | |
| Q3 2021 | +0.4% | -1.5% | -10.5% | |
| Q2 2021 | -8.2% | -5.0% | -4.0% | |
| Q1 2021 | +1.7% | -3.6% | +14.3% | |
| Q4 2020 | +0.5% | +3.1% | +6.4% | |
| Q3 2020 | +24.2% | +20.4% | +44.6% | |
| Q2 2020 | +5.2% | +3.3% | -13.2% | |
| Q1 2020 | +10.4% | +2.4% | +66.9% | |
| Q4 2019 | +3.4% | -2.7% | -78.1% | |
| Q3 2019 | -1.7% | -2.7% | -1.9% | |
| Q2 2019 | -1.4% | -1.1% | -3.0% | |
| Q1 2019 | -1.0% | -0.6% | -2.3% | |
| Q4 2018 | -0.4% | -2.5% | -2.4% | |
| Q3 2018 | +1.7% | +1.1% | +0.7% | |
| Q2 2018 | -0.9% | -2.7% | +1.0% | |
| Q1 2018 | +2.0% | +3.8% | +8.9% | |
| Q4 2017 | -3.2% | -1.1% | +2.2% | |
| Q3 2017 | -1.5% | -0.3% | -1.1% | |
| Q2 2017 | -0.7% | -0.1% | -0.6% | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro