Granite Point Mortgage Announces Quarterly Payouts Amid Balance Sheet Adjustments

Granite Point Mortgage Trust Inc. has confirmed its upcoming shareholder distributions while implementing several strategic financial maneuvers. The real estate finance company has restructured its capital framework, secured an extension on a key credit facility, and reduced its near-term secured borrowings. These actions aim to bolster the firm's financial position as it navigates the current commercial real estate debt environment.

The board of directors has declared the company's quarterly cash dividends. Common shareholders will receive $0.05 per share. For the 7.00% Fixed-to-Floating Rate Series A Cumulative Redeemable Preferred Stock, the dividend is set at $0.4375 per share. The record date is December 30, with payment scheduled for January 15, 2026. The ex-dividend date is December 29.

Operational highlights from the quarter include significant repayments from its loan portfolio, totaling approximately $39.0 million. Concurrently, the company funded about $4.8 million to support existing loan commitments. In a move to stabilize assets, management refinanced a real estate owned (REO) property in Maynard, Massachusetts, with an $18.0 million first mortgage loan carrying a spread of S+3.05%.

Enhanced Credit Terms and Liquidity Position

A central component of the recent strategy involves amendments to the Master Repurchase and Securities Agreement with JPMorgan Chase Bank, N.A. The "Additional Advance Termination Date" under this facility has been extended to April 12, 2026. This extension is designed to preserve near-term financing flexibility.

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Complementing this, Granite Point actively reduced its aggregate secured borrowings by $7.5 million. As of December 16, the company reported unencumbered cash and cash equivalents of roughly $66.9 million. The combination of increased liquidity and decreased leverage strengthens its short-term balance sheet.

Portfolio Composition and Market Sensitivity

The company's investment portfolio carries a weighted average risk rating of approximately 2.8. A dominant 97% of its senior loan investments bear floating interest rates. This structure means the trust's earnings potential remains closely tied to fluctuations in benchmark interest rates within the commercial mortgage market.

Despite the confirmed dividends and credit agreement adjustments, the stock has exhibited technical softness, with a 30-day volatility reading near 3.01%. While the JPMorgan term extension and borrowing reduction provide immediate balance sheet relief, the long-term outlook remains contingent on broader trends in commercial real estate and credit markets.