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Granite Point Mortgage
(NYSE:GPMT)
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Rating:47Neutral
Price Target:
$5.00
▲(376.19% Upside)
Action:Reiterated
Date:10/13/26
The score is held down primarily by weak financial performance (declining revenue, sizeable losses, and negative TTM free cash flow) and bearish technicals (below major moving averages with negative momentum). Offsetting factors include a high dividend yield and some financing progress in the latest updates, but ongoing credit provisioning, concentrated problem loans, and book value pressure keep the overall profile challenged.
Positive Factors
Portfolio diversification
A 38-investment portfolio with moderate origination leverage and a stable average risk rating provides diversification across individual CRE exposures. This structure can reduce the effect of any single loan problem and supports more disciplined credit management over the next several quarters.
Negative Factors
Severe profitability pressure
The sharp revenue decline and substantial recurring loss indicate that current earnings power is materially impaired. Persistent losses reduce retained capital, weaken returns on equity, and make it harder for the company to fund portfolio rebuilding or absorb additional credit costs without relying on asset sales or financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Portfolio diversification
A 38-investment portfolio with moderate origination leverage and a stable average risk rating provides diversification across individual CRE exposures. This structure can reduce the effect of any single loan problem and supports more disciplined credit management over the next several quarters.
Read all positive factors
Granite Point Mortgage (GPMT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$23.28M
Dividend Yield14.5%
Average Volume (3M)40.64K
Price to Earnings (P/E)―
Beta (1Y)1.29
Revenue Growth-25.30%
EPS Growth5.00%
CountryUS
Employees28
SectorGeneral
Sector StrengthN/A
IndustryREIT - Mortgage
Share Statistics
EPS (TTM)-19.96
Shares Outstanding4,819,817
10 Day Avg. Volume59,908
30 Day Avg. Volume40,641
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.21
Price to Sales (P/S)0.79
P/FCF Ratio43.08
Enterprise Value/Market Cap39.42
Enterprise Value/Revenue7.41
Enterprise Value/Gross Profit11.96
Enterprise Value/Ebitda-26.05
Forecast
1Y Price Target
$12.50Price Target Upside1090.48% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-15.23
Revenue Forecast (FY)$25.74M
Granite Point Mortgage Business Overview & Revenue Model
Company Description
Granite Point Mortgage Trust Inc., a real estate investment trust, originates, invests in, and manages senior floating-rate commercial mortgage loans and other debt and debt-like commercial real estate investments in the United States. The company...
Granite Point Mortgage Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: management achieved notable financing victories (CLO refinancing, covenant relief, extended facilities) and continued active loan resolutions and asset sales (≈$160M of activity and a Miami REO under contract). However, meaningful credit charges (provision for credit losses $47M), increased CECL reserves (+$17M QoQ), concentrated risk-rated-5 exposure (~$253M UPB with ~47.4% specific reserves), a sizable GAAP and distributable loss, and a QoQ book value decline of ~19% signal ongoing credit and valuation pressures. Management emphasized a disciplined plan to resolve legacy assets, reduce cost of capital, and redeploy capital, but near-term liquidity and portfolio contraction remain headwinds.Positive Updates
Portfolio Size and Diversification
Total loan portfolio commitments of $1.5B (including $1.4B outstanding principal and ~$57M future fundings, ~4% of commitments); 38 investments, average UPB ~$37M, weighted average stabilized LTV at origination ~66.1%, and weighted average risk rating stable at 3.2 quarter-over-quarter.
Negative Updates
GAAP and Distributable Losses
Reported GAAP net loss attributable to common stockholders of $62M (negative $1.29 per basic share) and distributable loss of $37.7M (negative $0.79 per basic share) in Q2 2026.
Read all updates
Q2-2026 Updates
Positive
Negative
Portfolio Size and Diversification
Total loan portfolio commitments of $1.5B (including $1.4B outstanding principal and ~$57M future fundings, ~4% of commitments); 38 investments, average UPB ~$37M, weighted average stabilized LTV at origination ~66.1%, and weighted average risk rating stable at 3.2 quarter-over-quarter.
Read all positive updates
Company Guidance
Management guided that Granite Point will remain focused on resolving legacy loans and REO, paying down higher‑cost debt and lowering cost of capital before restarting originations late in the year, noting a Q2 loan portfolio of $1.5B in commitments ($1.4B UPB, ~$57M future fundings, ~4% of commitments) across 38 investments (avg UPB ~$37M), a weighted avg risk rating of 3.2 and origination LTV of 66.1%; Q2 activity included ~$160M of repayments/resolutions/paydowns/participation sales (e.g., $76M Chicago retail sale, $37M Richmond office repayment, $31M Dallas participations), while remaining risk‑rated 5 loans total ~$253M UPB with ~$120M specific CECL reserves (47.4% of UPB) out of an aggregate CECL allowance of ~$166M (up ~$17M q/q; ~78% allocated to individually assessed loans); financials and liquidity metrics disclosed include a GAAP net loss of $62M (‑$1.29/share), distributable loss of $37.7M (‑$0.79/share), book value $5.70 (‑$1.35 q/q), unrestricted cash of ~$58M at 6/30 ( ~$35.7M as of early August), total leverage 1.9x, and covenant relief (min tangible net worth lowered to $500M from $600M and min unrestricted cash to $20M), and they highlighted a refinancing that reduced cost of funds on $521M of CLO assets from SOFR+238 to SOFR+200 (38 bps) — an annualized interest expense savings of ~ $2M — with management expecting nearer‑term resolutions to materially offset reserve increases and improve capacity to redeploy capital.Granite Point Mortgage Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
48
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 123.86M | 145.28M | 194.88M | -22.67M | 78.26M | 87.53M |
| Gross Profit | 76.73M | 120.62M | -170.88M | -27.99M | 78.26M | 87.53M |
| EBITDA | -35.23M | 56.88M | 6.51M | 3.49M | 0.00 | 16.56M |
| Net Income | -81.61M | -41.15M | -207.05M | -63.20M | -40.83M | 68.35M |
Balance Sheet | ||||||
| Total Assets | 1.46B | 1.76B | 2.12B | 2.85B | 3.45B | 3.99B |
| Cash, Cash Equivalents and Short-Term Investments | 58.48M | 65.96M | 87.79M | 188.37M | 133.13M | 191.93M |
| Total Debt | 953.04M | 1.17B | 1.47B | 1.95B | 2.43B | 2.94B |
| Total Liabilities | 982.36M | 1.20B | 1.50B | 1.99B | 2.47B | 2.97B |
| Stockholders Equity | 480.27M | 552.69M | 619.09M | 858.90M | 984.54M | 1.01B |
Cash Flow | ||||||
| Free Cash Flow | -990.00K | 2.67M | 5.99M | 52.10M | 58.90M | 60.30M |
| Operating Cash Flow | 4.30M | 2.67M | 8.76M | 52.10M | 58.90M | 60.30M |
| Investing Cash Flow | 387.17M | 299.00M | 435.24M | 561.43M | 408.63M | 139.77M |
| Financing Cash Flow | -379.89M | -336.07M | -528.74M | -554.47M | -531.66M | -324.97M |
Granite Point Mortgage Technical Analysis
Negative
1.05
Price Trends
8.54
Negative
11.03
Negative
13.46
Negative
Market Momentum
-1.20
Positive
18.33
Positive
16.73
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GPMT, the sentiment is Negative. The current price of 1.05 is below the 20-day moving average (MA) of 6.47, below the 50-day MA of 8.54, and below the 200-day MA of 13.46, indicating a bearish trend. The MACD of -1.20 indicates Positive momentum. The RSI at 18.33 is Positive, neither overbought nor oversold. The STOCH value of 16.73 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GPMT.
Granite Point Mortgage Risk Analysis
Granite Point Mortgage disclosed 72 risk factors in its most recent earnings report. Granite Point Mortgage reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Granite Point Mortgage Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $140.36M | 9.25 | 3.78% | 18.08% | -2.38% | -35.43% | |
59 Neutral | $94.59M | 14.48 | 7.07% | 15.62% | -13.80% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | $185.86M | -44.49 | -0.88% | 17.91% | 28.95% | 76.08% | |
47 Neutral | $23.28M | -0.24 | -15.12% | 14.50% | -25.30% | 5.00% | |
44 Neutral | $157.26M | -10.82 | 3.31% | 8.11% | -2.62% | -7470.75% | |
43 Neutral | $22.34M | -1.19 | -6.31% | 37.65% | -22.88% | -293.89% |
* General Sector Average
GPMT
Granite Point Mortgage
4.90
-20.66
-80.83%
ACRE
Ares Commercial
3.41
-0.64
-15.86%
ACR
ACRES Commercial Realty
11.95
-7.16
-37.47%
SEVN
Seven Hills Realty Trust
6.26
-2.44
-28.08%
LFT
Lument Finance Trust
4.22
-10.42
-71.18%
CHMI
Cherry Hill Mortgage
2.55
0.49
23.91%
Granite Point Mortgage Corporate Events
Regulatory Filings and ComplianceStock Split
Granite Point Mortgage Completes Reverse Stock Split Initiative
Neutral
Oct 6, 2026
Granite Point Mortgage Trust Inc., a New York-headquartered REIT that specializes in originating and managing senior floating-rate commercial mortgage loans and other debt-focused commercial real estate investments, operates as a Maryland corporat...
Business Operations and StrategyPrivate Placements and Financing
Granite Point Mortgage Amends JPMorgan Financing Facility Covenants
Positive
Oct 5, 2026
On September 30, 2026, Granite Point Mortgage Trust Inc., via its wholly owned subsidiary GP Commercial JPM LLC, amended its repurchase and guarantee agreements with JPMorgan Chase Bank, N.A. The changes increased the maximum facility size to $727...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Granite Point Mortgage Expands JPMorgan Repurchase Facility Capacity
Positive
Aug 3, 2026
On July 28, 2026, GP Commercial JPM LLC, a wholly owned subsidiary of Granite Point Mortgage Trust Inc., amended its longstanding uncommitted master repurchase agreement with JPMorgan Chase Bank and restated a related guarantee, followed by a furt...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.