Granite Point Mortgage Trust
Provides senior floating-rate mortgages for value-add U.S. commercial properties.
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Profile
Originates and holds senior, predominantly floating-rate first mortgages on U.S. commercial properties, earning a lending spread between loan interest and financing costs while managing distressed collateral when required.
Originates and holds senior, predominantly floating-rate first mortgages on U.S. commercial properties, with a focus on institutional-quality value-add properties. Property-level financing supports construction completion, re-tenanting, leasing costs, rent concessions and occupancy improvements. The portfolio also includes real estate owned after loan resolutions.
Earns interest and related income on loans while funding them through repurchase facilities, secured credit, a mortgage loan payable, participations and CRE CLO debt. Its team sources loans, underwrites property collateral and sponsors, manages positions through their terms, and resolves or takes control of distressed collateral.
Operates across the United States, with the portfolio concentrated in the Northeast, Southwest and Southeast and office its largest property type. Results depend on borrower and collateral performance, floating rates, loan repayment or workout outcomes, funding conditions, and continued REIT tax qualification and exclusion from Investment Company Act registration.
Company facts
Key statistics
Year to date −54.2% · Average volume (30d) 215.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 12, 2026 | Compass Point | Target | $1.50 | $1.25 | ||
| Jul 16, 2026 | UBS | Downgrade | Buy | Neutral | $3.25 | $1.50 |
| May 11, 2026 | Compass Point | Target | $1.65 | $1.50 | ||
| Apr 8, 2026 | Compass Point | Target | $2.05 | $1.65 | ||
| Feb 13, 2026 | Compass Point | Target | $2.50 | $2.05 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.39 | −$0.79 | −102.6% | $7.8M | $4.8M | −39.1% | −16.67% |
| May 5, 2026Q1 FY26 | −$0.19 | −$0.06 | +68.4% | $7.4M | $8.0M | +8.4% | +4.93% |
| Feb 11, 2026Q4 FY25 | −$0.16 | −$0.06 | +62.5% | $10.2M | $7.5M | −26.9% | −11.45% |
| Nov 5, 2025Q3 FY25 | −$0.15 | −$0.40 | −175.6% | $10.2M | $33.7M | +230.0% | +3.76% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $10.1M | $37.0M | $36.5M | $32.2M | $29.2M | $25.3M | |
| Gross profit | $10.1M | $298.0K | $14.7M | $25.7M | $19.9M | $16.5M | |
| Operating income | $0 | −$13.4M | $3.1M | $4.6M | $15.6M | −$35.2M | |
| Net income | −$7.0M | −$13.4M | $3.0M | −$23.8M | −$2.4M | −$58.4M | |
| Diluted EPS | −$0.22 | −$0.36 | −$0.01 | −$0.58 | −$0.13 | −$1.29 | |
| Gross margin | 100.0% | 0.8% | 40.3% | 80.0% | 68.1% | 65.2% | |
| Operating margin | 0.0% | -36.1% | 8.5% | 14.2% | 53.4% | -139.3% |
Fiscal years (4-quarter sums)FY21 $87.5M · FY22 $78.3M · FY23 $79.4M · FY24 $39.9M · FY25 $115.8M
Balance sheet, Jun 30, 2026Cash & short-term investments $58.5M · Total debt $953.0M · Total assets $1.46B · Shareholders' equity $480.3M
Dividends
Last cut to $0.05 from $0.15 in Jul 2024. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 1, 2026 | Jul 1 | Jul 15 | $0.05 | |
| Apr 1, 2026 | Apr 1 | Apr 15 | $0.05 | |
| Dec 30, 2025 | Dec 30 | Jan 15 | $0.05 | |
| Oct 1, 2025 | Oct 1 | Oct 15 | $0.05 | |
| Jul 1, 2025 | Jul 1 | Jul 15 | $0.05 | |
| Apr 1, 2025 | Apr 1 | Apr 15 | $0.05 | |
| Dec 31, 2024 | Dec 31 | Jan 15 | $0.05 | |
| Oct 1, 2024 | Oct 1 | Oct 15 | $0.05 |
Ownership
Shares outstanding 47.92M · Float 44.95M · 93.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Vanguard Capital Management LLC | 2.10M | 4.38% | 13F | Aug 13, 2026 |
| Cura Wealth Advisors, LLC | 1.80M | 3.76% | 13F | Aug 6, 2026 |
| Hotchkis & Wiley Capital Management LLC | 1.77M | 3.70% | 13F | Aug 14, 2026 |
| Gratia Capital, LLC | 1.74M | 3.63% | 13F | Aug 14, 2026 |
| Acadian Asset Management LLC | 1.28M | 2.67% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 8, 2026 | Tanuja M. Dehne | director | −10,827 | $1.48 |
| Jun 8, 2026 | Stephen G. Kasnet | director | −26,772 | $1.48 |
| Nov 10, 2025 | Hope B. Woodhouse | director | −14,674 | $2.70 |
| Nov 11, 2025 | Lazar Nikolic | director | +12,236 | $19.36 |
| Nov 10, 2025 | Lazar Nikolic | director | +4,000 | $19.31 |
Peers
- Blackstone Mortgage Trust
Institutional senior CRE lending overlap at much larger scale.
- KKR Real Estate Finance Trust
Transitional senior floating-rate loan overlap for U.S. CRE sponsors.
- TPG RE Finance Trust
First-mortgage CRE lending overlap across core U.S. property types.
- Starwood Property Trust
Large diversified commercial mortgage lender serving the same sponsors.
- Franklin BSP Realty Trust
Diversified commercial mortgage debt lender with a scaled loan book.
- Ladder Capital
Middle-market first-mortgage lender with flexible CRE capital solutions.
- BrightSpire Capital
CRE credit REIT expanding its floating-rate senior mortgage platform.
- Ares Commercial Real Estate
National senior mortgage originator for U.S. commercial property owners.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Granite Point Mortgage Trust | $1.08 | −0.46% | $51.8M | — | — | 0.4 | −87.2% |
| Blackstone Mortgage Trust | $13.75 | +0.18% | $2.31B | 171.6 | 10.9 | 1.5 | +18.1% |
| KKR Real Estate Finance Trust | $7.59 | +0.20% | $488.0M | — | — | 1.2 | −82.3% |
| TPG RE Finance Trust | $7.73 | −0.06% | $593.4M | 14.3 | 7.2 | 2.2 | −58.7% |
| Starwood Property Trust | $15.85 | +0.27% | $5.86B | 23.2 | 9.4 | 2.9 | +7.9% |
| Franklin BSP Realty Trust | $8.46 | −0.06% | $702.6M | 19.1 | 8.0 | 1.3 | −45.4% |
| Ladder Capital | $9.82 | +0.10% | $1.25B | 23.4 | 9.0 | 3.3 | −40.9% |
| BrightSpire Capital | $4.75 | 0.00% | $601.0M | — | 7.8 | 1.8 | −0.9% |
| Ares Commercial Real Estate | $4.65 | +0.11% | $258.0M | — | 50.3 | 2.6 | — |
| Median | 23.2 | 9.0 | 2.0 | −40.9% |