Granite Point Mortgage Trust Inc
GPMTBuild a strategy around GPMT
Granite Point Mortgage Trust Inc AI Insights
Informational only. Not investment advice.Snapshot
- Net loss of -56.2M TTM with -128% net margin vs industry median +15.4% - deeply unprofitable mREIT in distress[Net Margin TTM]
- Interest expense 107.4M TTM exceeds total revenue 43.9M by 2.4x - negative interest spread destroying value[Interest Expense TTM]
- Trading at 1.0x tangible book (581.9M equity) but ROE -9.0% TTM vs industry +4.6% - book value eroding[ROE TTM]
Watch Triggers
- Interest Expense TTM: Falls below 80M (revenue coverage >0.5x) — Would signal path to breakeven; currently at 2.4x revenue
- Common Stockholders Equity: Declines below 500M — Would indicate accelerating book value destruction beyond current -9% ROE pace
- Dividends Paid Per Share TTM: Reinstated above 0 — Would signal management confidence in stabilization
Bull Case
Trading near tangible book (581.9M) with 62.7M cash provides downside cushion if rates normalize and spread compression reverses
Debt/equity 1.3x is manageable for mREIT; operating cash flow +4.5M TTM shows core business generates some liquidity
Bear Case
Interest expense (107.4M) consuming 245% of revenue (43.9M) - mathematically impossible to profit without major rate cuts or asset sales
5Y revenue decline -11.1% CAGR while industry grew +6.6% indicates portfolio runoff with no reinvestment capacity
Bull vs Bear Balance
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Forward Thesis
Continued book value erosion likely without rate relief or portfolio restructuring
- Interest costs 2.4x revenue creates structural cash burn
- 5Y revenue CAGR -11.1% signals shrinking asset base
- Dividend suspended (0 vs industry median 0) preserves capital but signals distress
Valuation Context
Caveats
Public Strategies Rankings
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GPMT Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$68.73M | — | ||
$735.62M | — | ||
0.00 | — | ||
$44.1M | +10.6% | — | |
$-1.16 | — | ||
0% | — | ||
-93.3% | +426.1% | — | |
$2.67M | -69.5% | — | |
-7.02% | +21.0% | — | |
Beta 5Y (Monthly) | unknown | — |
GPMT Dividend History
2026
$0.05002025
$0.20002024
$0.30002023
$0.80002022
$0.95002021
$1.00002020
$0.65002019
$1.68002018
$1.62002017
$0.7000GPMT Stock Splits
GPMT SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
03/02/26 | 12/31/25 | 10-K | |
11/05/25 | 09/30/25 | 10-Q | |
08/05/25 | 06/30/25 | 10-Q | |
05/06/25 | 03/31/25 | 10-Q | |
02/27/25 | 12/31/24 | 10-K | |
11/06/24 | 09/30/24 | 10-Q | |
08/05/24 | 06/30/24 | 10-Q | |
05/07/24 | 03/31/24 | 10-Q | |
03/01/24 | 12/31/23 | 10-K | |
11/07/23 | 09/30/23 | 10-Q | |
08/08/23 | 06/30/23 | 10-Q | |
05/09/23 | 03/31/23 | 10-Q | |
03/02/23 | 12/31/22 | 10-K | |
11/08/22 | 09/30/22 | 10-Q | |
08/08/22 | 06/30/22 | 10-Q | |
05/10/22 | 03/31/22 | 10-Q | |
02/25/22 | 12/31/21 | 10-K | |
11/08/21 | 09/30/21 | 10-Q | |
08/09/21 | 06/30/21 | 10-Q | |
05/06/21 | 03/31/21 | 10-Q | |
03/05/21 | 12/31/20 | 10-K | |
11/09/20 | 09/30/20 | 10-Q | |
08/10/20 | 06/30/20 | 10-Q | |
05/11/20 | 03/31/20 | 10-Q | |
03/02/20 | 12/31/19 | 10-K | |
11/05/19 | 09/30/19 | 10-Q | |
08/05/19 | 06/30/19 | 10-Q | |
05/07/19 | 03/31/19 | 10-Q | |
02/27/19 | 12/31/18 | 10-K | |
11/06/18 | 09/30/18 | 10-Q | |
08/07/18 | 06/30/18 | 10-Q | |
05/10/18 | 03/31/18 | 10-Q | |
03/16/18 | 12/31/17 | 10-K | |
11/14/17 | 09/30/17 | 10-Q | |
08/14/17 | 06/30/17 | 10-Q | |
06/26/17 | 03/31/17 | 424B4 | |
06/26/17 | 12/31/16 | 424B4 | |
11/14/17 | 09/30/16 | 10-Q | |
08/14/17 | 06/30/16 | 10-Q | |
06/26/17 | 03/31/16 | 424B4 |