Overview

* Granite Point Q3 net loss of $0.6 mln

* Company declared a $0.05 per share common stock dividend

* Extended maturity of secured credit facility to December 2026

Result Drivers

* CREDIT LOSS BENEFIT - Co recognized a GAAP benefit from credit losses of $1.6 mln, contributing to net loss reduction

* LOAN PORTFOLIO ACTIVITY - Net loan portfolio activity resulted in $(109.7) mln in unpaid principal balance, impacting financial results

* CREDIT FACILITY MATURITY - Extended maturity of secured credit facility to December 2026, reducing financing spread by 75 basis points

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS -$0.01

Q3 Net $3.04

Income mln

Q3 Net $10.30

Interest mln

Income

Q3 Loan $1.64

Loss mln

Provisio

n

Q3 $3.10

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "hold"

* Wall Street's median 12-month price target for Granite Point Mortgage Trust Inc ( GPMT ) is $3.25, about 18.2% above its November 5 closing price of $2.66

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)