NYSE$GPMT
Granite Point Mortgage Trust Inc · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Granite Point Mortgage Trust Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024.
Granite Point Mortgage Trust Inc. reported a GAAP net loss attributable to common stockholders of $42.4 million, or $0.86 per basic common share, for Q4 2024. The company made substantial progress in resolving nonperforming loans and repurchased 1.2 million common shares.
- GAAP net loss attributable to common stockholders was $42.4 million, or $0.86 per basic common share, for Q4 2024.
- Distributable Earnings (Loss) was $(98.2) million, or $(1.98) per basic share, inclusive of write-offs of $(95.2) million.
- The company repurchased approximately 1.2 million common shares at an average price of $3.45 per share, resulting in book value accretion of $0.13 per share.
- Net loan portfolio activity for the quarter was $(242.7) million in unpaid principal balance, including five full loan repayments and four resolutions.
Headline financials
Revenue & EPS history
Granite Point · Revenue · Quarterly
$38.7M
Forward guidance
The company continues to focus on resolving nonperforming loans and redeploying capital, with several resolutions underway in 2025 and additional fundings on existing loan commitments.
Tailwinds
- Resolved nonperforming loans totaling over $340 million in 2024, with more resolutions expected in 2025.
- Received twelve loan repayments of about $415 million in 2024.
- Redeployed capital into own securities, repurchasing 2.4 million common shares in 2024.
- Funded about $2.9 million on existing loan commitments in Q1 2025.
- Carried approximately $75.0 million in unrestricted cash as of February 12, 2025.
Headwinds
- Took an office property in Miami Beach, FL as REO in January, with an expected net carrying value of approximately $71.0 million.
- Expects to realize a write-off of approximately $(7.9) million for the Miami Beach REO property.
- Resolved a loan secured by an office property in Boston, MA via a property sale in February.
- Expects to realize a write-off of approximately $(16.6) million for the Boston office property.
- No specific negative forward guidance beyond expected write-offs from resolved loans.
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 2024
-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 | — | — | — |
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