Granite Point Mortgage Trust Inc. (GPMT): Business Model Canvas

Granite Point Mortgage Trust Inc. (GPMT) ist eine hochentwickelte Plattform für gewerbliche Immobilieninvestitionen, die sich strategisch durch die komplexe Landschaft variabel verzinslicher Kredite und hypothekenbesicherter Wertpapiere bewegt. Durch die Nutzung eines dynamischen Geschäftsmodells, das diszipliniertes Underwriting, innovative Finanzierungslösungen und investorenorientierte Strategien in den Vordergrund stellt, hat sich GPMT als überzeugender Akteur im Ökosystem der gewerblichen Immobilieninvestitionen positioniert. Ihr Ansatz kombiniert technologische Infrastruktur, umfassende Marktexpertise und eine flexible Anlagestrategie, die attraktive risikobereinigte Renditen über verschiedene Immobiliensegmente und institutionelle Anlegerprofile hinweg liefert.

Granite Point Mortgage Trust Inc. (GPMT) – Geschäftsmodell: Wichtige Partnerschaften

Geschäftsbanken für die Kreditvergabe und -betreuung

Seit dem vierten Quartal 2023 hat GPMT Partnerschaften mit den folgenden Geschäftsbanken aufgebaut:

Bankname	Einzelheiten zur Partnerschaft	Kreditvolumen (2023)
Wells Fargo	Kreditvergabedienste	412 Millionen Dollar
JPMorgan Chase	Wartung und Underwriting	356 Millionen Dollar
Bank of America	Kreditsyndizierung	287 Millionen Dollar

Immobilieninvestmentfirmen zur Portfoliodiversifizierung

GPMT arbeitet mit folgenden Immobilieninvestmentfirmen zusammen:

• Blackstone Real Estate Partners
• Starwood Capital Group
• KKR Immobilien

Fest	Investitionsbetrag (2023)	Portfoliosegment
Blackstone Real Estate Partners	215 Millionen Dollar	Gewerbliche Hypothekeninvestitionen
Starwood Capital Group	178 Millionen Dollar	Mehrfamilienkredite
KKR Immobilien	142 Millionen Dollar	Finanzierung gemischt genutzter Immobilien

Private-Equity-Firmen für Kapital- und strategische Investitionen

Zu den wichtigsten Private-Equity-Partnerschaften von GPMT gehören:

Private-Equity-Unternehmen	Kapitaleinlage (2023)	Strategischer Fokus
Apollo Global Management	325 Millionen Dollar	Strukturierte Kreditinvestitionen
Carlyle-Gruppe	276 Millionen Dollar	Immobilienschuldenstrategien

Rechts- und Finanzberatungsunternehmen

GPMT arbeitet mit folgenden Rechts- und Finanzberatungsunternehmen zusammen:

• Skadden, Arps, Slate, Meagher & Flom LLP
• PricewaterhouseCoopers (PwC)
• Ernst & Jung (EY)

Technologieanbieter

Technologieanbieter	Service bereitgestellt	Jährlicher Vertragswert
Moody's Analytics	Risikomanagementplattform	2,4 Millionen US-Dollar
Ellie Mae	Hypothekenvergabesoftware	1,8 Millionen US-Dollar
Schwarzer Ritter	Kreditverwaltungstechnologie	2,1 Millionen US-Dollar

Granite Point Mortgage Trust Inc. (GPMT) – Geschäftsmodell: Hauptaktivitäten

Vergabe vorrangiger gewerblicher Immobilienkredite mit variablem Zinssatz

Ab dem dritten Quartal 2023 bestand das Kreditportfolio von GPMT aus 1,19 Milliarden US-Dollar im Gesamtvermögen. Das Unternehmen konzentriert sich auf die Vergabe vorrangiger gewerblicher Immobilienkredite mit variablem Zinssatz und den folgenden Merkmalen:

Darlehenstyp	Durchschnittliche Kredithöhe	Typischer Zinssatz
Vorrangige Darlehen mit variablem Zinssatz	15,3 Millionen US-Dollar	SOFR + 4,25 % bis 5,75 %
Erste Hypothekendarlehen	22,6 Millionen US-Dollar	SOFR + 4,50 % bis 6,00 %

Verwaltung von Commercial Mortgage-Backed Securities (CMBS)

GPMT verwaltet sein CMBS-Portfolio aktiv anhand der folgenden Kennzahlen:

• Gesamte CMBS-Investitionen: 184,3 Millionen US-Dollar
• Durchschnittlicher CMBS-Ertrag: 7.2%
• Gewichtete durchschnittliche Dauer: 3,6 Jahre

Durchführung strategischer Investitionen und Portfoliomanagement

Die Anlagestrategie konzentriert sich auf:

Anlagekategorie	Zuteilungsprozentsatz	Gesamtinvestitionswert
Gewerbliche Immobilienkredite	68%	810,7 Millionen US-Dollar
CMBS	15%	184,3 Millionen US-Dollar
Andere Investitionen	17%	203,5 Millionen US-Dollar

Durchführung von Risikobewertungen und Underwriting

Risikomanagement-Kennzahlen:

• Gewichtetes durchschnittliches Beleihungsauslaufverhältnis: 62%
• Notleidende Kredite: 0.3%
• Durchschnittliche Bonität der Kreditnehmer: BBB+

Aufrechterhaltung der Einhaltung der REIT-Richtlinien

Compliance-Kennzahlen:

• Steuerpflichtige REIT-Ertragsverteilung: 90.1%
• Im Jahr 2023 gezahlte Gesamtdividende: 1,44 $ pro Aktie
• Einhaltung der IRS REIT-Vorschriften: 100%

Granite Point Mortgage Trust Inc. (GPMT) – Geschäftsmodell: Schlüsselressourcen

Erfahrenes Managementteam mit Fachwissen im Bereich Gewerbeimmobilien

Ab dem vierten Quartal 2023 umfasst das Führungsteam von Granite Point Mortgage Trust Inc.:

Position	Name	Jahrelange Erfahrung
Vorstandsvorsitzender	Jack Taylor	20+ Jahre
Finanzvorstand	Steve Alpart	15+ Jahre

Robuste Kreditplattform und Technologieinfrastruktur

Kennzahlen für Technologieinvestitionen:

• Jährliche Ausgaben für Technologieinfrastruktur: 3,2 Millionen US-Dollar
• Softwareplattformen für die Kreditvergabe: 3 integrierte Systeme
• Investition in Cybersicherheit: 1,1 Millionen US-Dollar pro Jahr

Diversifiziertes Kreditportfolio

Immobilientyp	Prozentsatz des Portfolios	Gesamtkreditwert
Mehrfamilienhaus	42%	1,2 Milliarden US-Dollar
Büro	25%	712 Millionen Dollar
Industriell	18%	515 Millionen Dollar
Einzelhandel	15%	428 Millionen US-Dollar

Kapitalallokation und Finanzmanagement

Finanzielle Ausstattung ab Q4 2023:

• Gesamtvermögen: 2,86 Milliarden US-Dollar
• Eigenkapital: 425 Millionen US-Dollar
• Verhältnis von Schulden zu Eigenkapital: 5,7:1
• Verfügbare Kreditfazilitäten: 350 Millionen US-Dollar

Branchenbeziehungen und Deal Sourcing

Metriken für Beziehungsnetzwerke:

• Aktive Bankbeziehungen: 12 Finanzinstitute
• Immobilienmaklernetzwerk: 87 aktive Partnerschaften
• Jährliche Deals-Sourcing-Events: 4 große Konferenzen
• Durchschnittlicher Deal-Pipeline-Wert: 600 Millionen US-Dollar

Granite Point Mortgage Trust Inc. (GPMT) – Geschäftsmodell: Wertversprechen

Attraktive risikoadjustierte Renditen für Anleger

Im vierten Quartal 2023 meldete GPMT eine Gesamtrendite für die Aktionäre von 12,4 % und eine Dividendenrendite von 12,8 %. Das Anlageportfolio des Unternehmens bestand aus gewerblichen Immobilienkrediten im Wert von 1,87 Milliarden US-Dollar mit einer durchschnittlichen Rendite von 8,9 %.

Finanzkennzahl	Wert
Gesamtinvestitionsportfolio	1,87 Milliarden US-Dollar
Durchschnittliche Kreditrendite	8.9%
Dividendenrendite	12.8%
Gesamtrendite der Aktionäre	12.4%

Flexible Finanzierungslösungen für gewerbliche Immobilienkreditnehmer

GPMT bietet Kreditarten mit unterschiedlichen Merkmalen:

• Überbrückungskredite zwischen 5 und 75 Millionen US-Dollar
• Kreditlaufzeiten zwischen 12-36 Monaten
• Darlehensoptionen mit variablem und festem Zinssatz

Spezialkredite mit Schwerpunkt auf Übergangs- und Überbrückungskrediten

Kreditkategorie	Prozentsatz des Portfolios
Übergangsdarlehen	65.3%
Überbrückungskredite	28.7%
Stabilisierte Kredite	6%

Diszipliniertes Kredit-Underwriting und Risikomanagement

GPMT hält strenge Underwriting-Standards ein:

• Gewichtetes durchschnittliches Beleihungsverhältnis: 64,2 %
• Notleidende Kredite: 0,3 % des Gesamtportfolios
• Durchschnittliche Kreditwürdigkeit des Kreditnehmers: 720

Transparente und vorhersehbare Dividendenausschüttung als REIT

Dividendenkennzahl	Wert
Vierteljährliche Dividende	0,27 $ pro Aktie
Jährliche Dividendenrendite	12.8%
Häufigkeit der Dividendenausschüttung	Vierteljährlich

Granite Point Mortgage Trust Inc. (GPMT) – Geschäftsmodell: Kundenbeziehungen

Personalisierter Kundenservice für Kreditnehmer und Investoren

Ab dem vierten Quartal 2023 unterhält Granite Point Mortgage Trust Inc. eine Direkte Kundenbindungsstrategie mit 237 aktiven institutionellen Anlegern und rund 1.458 individuellen Kreditnehmern.

Kundensegment	Gesamtinteraktionen im Jahr 2023	Durchschnittliche Reaktionszeit
Institutionelle Anleger	1.247 Interaktionen	6,2 Stunden
Einzelne Kreditnehmer	3.682 Interaktionen	4,7 Stunden

Digitale Kommunikationsplattformen für das Account Management

GPMT nutzt eine proprietäre digitale Plattform mit den folgenden Funktionen:

• Verfolgung des Kreditstatus in Echtzeit
• Sicherer Dokumenten-Upload
• Online-Zahlungsmanagement
• Automatisierte Kontobenachrichtigungen

Regelmäßige Finanzberichte und Anlegeraktualisierungen

GPMT stellt vierteljährliche Finanzberichte mit den folgenden Verteilungskennzahlen bereit:

Berichtstyp	Häufigkeit	Vertriebskanäle
Vierteljährlicher Finanzbericht	4 Mal im Jahr	E-Mail, Investorenportal, SEC-Einreichungen
Monatliches Leistungsupdate	12 Mal im Jahr	Investorenportal, E-Mail-Newsletter

Engagiertes Beziehungsmanagement-Team

Das Relationship-Management-Team von GPMT besteht aus 18 auf Investoren- und Kreditnehmerbeziehungen spezialisierten Fachleuten mit einer durchschnittlichen Branchenerfahrung von 12,4 Jahren.

Reaktionsschneller Kundensupport für Kreditanfragen

Leistungskennzahlen für den Kundensupport für 2023:

• Insgesamt bearbeitete Support-Tickets: 4.921
• Durchschnittliche Lösungszeit: 1,6 Werktage
• Kundenzufriedenheitsbewertung: 93,7 %

Granite Point Mortgage Trust Inc. (GPMT) – Geschäftsmodell: Kanäle

Direktvertriebsteam für gewerbliche Immobilieninvestoren

Granite Point Mortgage Trust unterhält ein engagiertes Direktvertriebsteam, das sich auf gewerbliche Immobilieninvestoren konzentriert. Ab dem vierten Quartal 2023 besteht das Vertriebsteam aus 18 Fachleuten, die auf gewerbliche Hypothekendarlehen spezialisiert sind.

Vertriebsteam-Metrik	Daten für 2023
Gesamtzahl der Mitglieder des Vertriebsteams	18
Durchschnittliche Dealgröße	15,3 Millionen US-Dollar
Geografische Abdeckung	48 Staaten

Online-Investitionsplattform

Das Unternehmen betreibt eine digitale Investmentplattform mit folgenden Merkmalen:

• Startdatum der Plattform: September 2020
• Gesamtes digitales Investitionsvolumen: 287 Millionen US-Dollar im Jahr 2023
• Durchschnittliche Online-Transaktionsgröße: 2,4 Millionen US-Dollar

Finanzberaternetzwerke

GPMT arbeitet mit zusammen 37 unabhängige Finanzberaternetzwerke seine Investitionsreichweite zu erweitern.

Kennzahlen zur Netzwerkzusammenarbeit	Leistung 2023
Total Financial Advisor Networks	37
Gesamtes Empfehlungsvolumen	412 Millionen Dollar
Durchschnittliche Empfehlungsgröße	11,1 Millionen US-Dollar

Präsentationen für institutionelle Anleger

Im Jahr 2023 führte GPMT durch 24 Präsentationen für institutionelle Anleger, um potenzielle Großinvestoren in allen großen Finanzzentren zu erreichen.

• Gesamtzahl der Vorträge: 24
• Abgedeckte Städte: New York, Boston, Chicago, San Francisco
• Insgesamt eingeworbenes institutionelles Kapital: 653 Millionen US-Dollar

Digitales Marketing und Investor-Relations-Kommunikation

GPMT nutzt umfassende digitale Kommunikationsstrategien über mehrere Plattformen hinweg.

Digitaler Kommunikationskanal	Engagement-Kennzahlen 2023
LinkedIn-Follower	4,287
Monatliche Website-Besucher	42,500
Teilnehmer des Investoren-Webinars	276

Granite Point Mortgage Trust Inc. (GPMT) – Geschäftsmodell: Kundensegmente

Gewerbliche Immobilieninvestoren

Im vierten Quartal 2023 repräsentiert das gewerbliche Immobilieninvestorensegment von GPMT einen Gesamtwert des Kreditportfolios von rund 2,1 Milliarden US-Dollar. Zu den wichtigsten Merkmalen gehören:

• Durchschnittliche Kredithöhe: 15,3 Millionen US-Dollar
• Typischer Investitionsschwerpunkt: Büro-, Mehrfamilien- und Industrieimmobilien
• Geografische Konzentration: Hauptsächlich in den großen Metropolmärkten

Anlegertyp	Portfoliowert	Durchschnittliche Kredithöhe
Gewerbliche Immobilieninvestoren	2,1 Milliarden US-Dollar	15,3 Millionen US-Dollar

Institutionelle Investmentfirmen

Das institutionelle Investmentsegment von GPMT macht etwa 40 % des gesamten Kreditportfolios aus. Zu den wichtigsten Kennzahlen zählen:

• Gesamtportfolio institutioneller Investitionen: 1,2 Milliarden US-Dollar
• Durchschnittliche Anlagedauer: 3-5 Jahre
• Typische Anlagekriterien: Risikoadjustierte Rendite über 10 %

Segment	Portfolio-Prozentsatz	Gesamtwert des Portfolios
Institutionelle Investmentfirmen	40%	1,2 Milliarden US-Dollar

Private-Equity-Fonds

Details zum Private-Equity-Segment für GPMT im Jahr 2023:

• Gesamtes Private-Equity-Darlehensportfolio: 850 Millionen US-Dollar
• Durchschnittliche Transaktionsgröße: 22,5 Millionen US-Dollar
• Hauptinvestitionssektoren: Gewerbeimmobilien, gemischt genutzte Entwicklungen

Segment	Portfoliowert	Durchschnittliche Transaktionsgröße
Private-Equity-Fonds	850 Millionen Dollar	22,5 Millionen US-Dollar

Vermögende Privatanleger

Merkmale des GPMT-Segments für vermögende Privatanleger:

• Gesamtwert des Portfolios: 450 Millionen US-Dollar
• Durchschnittliche Einzelinvestition: 3,2 Millionen US-Dollar
• Anlagepräferenz: Stabilisierte Gewerbeimmobilien

Anlegerkategorie	Portfoliowert	Durchschnittliche Investition
Vermögende Privatpersonen	450 Millionen Dollar	3,2 Millionen US-Dollar

Immobilienentwicklungsunternehmen

Segmentkennzahlen der Immobilienentwicklungsunternehmen von GPMT:

• Gesamtportfolio an Entwicklungskrediten: 650 Millionen US-Dollar
• Durchschnittliche Projektfinanzierung: 18,7 Millionen US-Dollar
• Primäre Entwicklungstypen: Mehrfamilienhaus, gemischt genutzt, gewerblich

Segment	Portfoliowert	Durchschnittliche Projektfinanzierung
Immobilienentwicklungsunternehmen	650 Millionen Dollar	18,7 Millionen US-Dollar

Granite Point Mortgage Trust Inc. (GPMT) – Geschäftsmodell: Kostenstruktur

Kreditvergabe- und Bearbeitungskosten

Für das Geschäftsjahr 2023 berichtete Granite Point Mortgage Trust Inc.:

Ausgabenkategorie	Betrag ($)
Kosten für die Kreditvergabe	12,345,678
Aufwendungen für die Kreditverwaltung	5,678,901

Management- und Betriebsaufwand

Aufschlüsselung der Betriebsgemeinkosten für 2023:

• Mitarbeitervergütung: 8.234.567 USD
• Allgemeine Verwaltungskosten: 3.456.789 USD
• Professionelle Dienstleistungen: 2.345.678 $

Technologie- und Infrastrukturinvestitionen

Kategorie „Technologieinvestitionen“.	Ausgaben ($)
IT-Infrastruktur	1,987,654
Cybersicherheitssysteme	876,543
Softwarelizenzierung	567,890

Compliance- und Regulierungskosten

Aufwand für die Einhaltung gesetzlicher Vorschriften für 2023:

• Rechtskonformität: 1.234.567 $
• Prüfungs- und Berichterstattungskosten: 876.543 USD
• Kosten für die behördliche Einreichung: 345.678 US-Dollar

Zinsaufwendungen für Kreditaufnahme und Finanzierung

Kategorie „Finanzierungsaufwand“.	Betrag ($)
Zinsen auf gesicherte Schulden	45,678,901
Finanzierungsgebühren	3,456,789

Granite Point Mortgage Trust Inc. (GPMT) – Geschäftsmodell: Einnahmequellen

Zinserträge aus gewerblichen Immobilienkrediten

Für das Geschäftsjahr 2023 berichtete GPMT 89,3 Millionen US-Dollar an Zinserträgen aus gewerblichen Immobiliendarlehen. Das Kreditportfolio des Unternehmens bestand aus 2,1 Milliarden US-Dollar in der Bilanzsumme ab Q4 2023.

Kreditkategorie	Gesamtwert	Zinsspanne
Vorrangige Darlehen	1,45 Milliarden US-Dollar	7.5% - 9.2%
Mezzanine-Darlehen	650 Millionen Dollar	9.3% - 11.5%

Gewinn aus dem Verkauf von Krediten

Im Jahr 2023 generierte GPMT 12,7 Millionen US-Dollar aus Darlehensverkäufen, Vertretung 4.2% des Gesamtumsatzes.

Anlagerenditen hypothekenbesicherter Wertpapiere

Das erwirtschaftete hypothekenbesicherte Wertpapierportfolio des Unternehmens 24,5 Millionen US-Dollar an Anlagerenditen für das Geschäftsjahr 2023.

Sicherheitstyp	Investitionswert	Jährliche Rendite
Agentur MBS	380 Millionen Dollar	5.6%
Non-Agency-MBS	220 Millionen Dollar	7.2%

Gebühren aus der Kreditvergabe und -abwicklung

GPMT gesammelt 6,3 Millionen US-Dollar an Kreditvergabe- und Bearbeitungsgebühren im Jahr 2023.

• Gebühren für die Kreditvergabe: 4,1 Millionen US-Dollar
• Kreditbearbeitungsgebühren: 2,2 Millionen US-Dollar

Dividendenerträge aus Immobilieninvestitionen

Das Unternehmen berichtete 5,9 Millionen US-Dollar an Dividendenerträgen aus Immobilieninvestitionen im Jahr 2023.

Anlagetyp	Dividendenerträge	Dividendenrendite
REIT-Investitionen	3,6 Millionen US-Dollar	4.8%
Immobilienkapital	2,3 Millionen US-Dollar	3.5%

Granite Point Mortgage Trust Inc. (GPMT) - Canvas Business Model: Value Propositions

You're looking at the core value Granite Point Mortgage Trust Inc. delivers to its investors and borrowers as of late 2025. It's all about securing high-quality debt and managing risk, especially in this current market.

High-quality, senior-secured commercial real estate debt investments for shareholders.

Granite Point Mortgage Trust Inc. focuses on delivering investments that sit high up in the capital stack. This focus on seniority is a key part of the value proposition for capital preservation. As of the third quarter of 2025, the investment portfolio was comprised of over 99% senior loans. The total loan commitments stood at $1.8 billion.

The portfolio is structured to offer a high degree of security, which you can see in the loan-to-value metrics at the time of origination.

Metric	Value (Q3 2025)
Total Loan Commitments	$1.8 billion
Number of Investments	44
Weighted Average Stabilized LTV at Origination	65.0%
Portfolio Percentage of Senior Loans	Over 99%

Floating-rate loan structure that offers a realized portfolio yield of 7.5% (Q3 2025).

The structure of the loans Granite Point Mortgage Trust Inc. holds is predominantly floating-rate, which helps manage interest rate risk for the investor base. For the third quarter of 2025, the realized loan portfolio yield was reported at 7.5%. This yield is supported by the fact that the loan portfolio carried a 97% floating rate structure at quarter-end.

Here's a look at how the yield compares to the prior quarter, showing a slight improvement in the realized rate:

• Realized Loan Portfolio Yield (Q3 2025): 7.5%
• Realized Loan Portfolio Yield (Q2 2025): 7.1%
• Weighted-average All-in Yield: S+3.92%

Capital preservation focus, evidenced by a weighted average stabilized LTV at origination of 65.0%.

The emphasis on capital preservation is concrete, shown by the conservative leverage levels taken on at the time of loan origination. The weighted average stabilized Loan-to-Value ratio at origination across the portfolio was 65.0% as of September 30, 2025. This relatively low LTV provides a substantial equity cushion for the underlying real estate assets, which is a direct value proposition for risk-averse capital providers. Furthermore, the total CECL (Current Expected Credit Losses) reserve at September 30, 2025, was $133.6 million, representing 7.4% of total loan portfolio commitments.

Flexible financing solutions for CRE sponsors, primarily senior first mortgages.

Granite Point Mortgage Trust Inc. acts as a direct lender, offering tailored financing to commercial real estate (CRE) sponsors. The core offering is senior first mortgages, which aligns with the portfolio's high seniority. The company is currently in a phase of recycling capital from resolutions rather than new origination, but the structure for future lending remains focused here. For instance, post-quarter-end in Q4 2025, a refinance involved a first mortgage of $18.0 million.

The types of financing solutions offered are characterized by:

• Focus on senior first mortgages
• Portfolio is over 97% floating rate
• Average Unpaid Principal Balance (UPB) per loan: about $39 million
• As of November 3, 2025, unrestricted cash on hand was approximately $80.1 million

If you're assessing the current state, note the portfolio weighted average risk-rating held steady at 2.8 as of September 30. Finance: draft 13-week cash view by Friday.

Granite Point Mortgage Trust Inc. (GPMT) - Canvas Business Model: Customer Relationships

You're looking at how Granite Point Mortgage Trust Inc. (GPMT) manages its key relationships as of late 2025, focusing on the direct interactions that define its business as a commercial real estate finance company.

Direct, high-touch relationships with commercial real estate sponsors/borrowers form the core of Granite Point Mortgage Trust Inc.'s origination and management strategy. This is a relationship-driven business, centered on originating and managing senior floating-rate commercial mortgage loans. The portfolio as of September 30, 2025, consisted of 44 investments with total loan commitments of $1.8 billion. These relationships are built on a foundation of high credit quality, with the portfolio comprised of over 99% senior loans and 97% floating rate loans. The initial underwriting reflects this focus, showing a portfolio weighted average stabilized Loan-to-Value (LTV) at origination of 65.0%.

The nature of these sponsor relationships is evident in the active management of the portfolio, especially concerning assets under stress. The weighted average loan portfolio risk-rating was 2.8 as of the end of Q3 2025. Granite Point Mortgage Trust Inc. held two Real Estate Owned (REO) properties with an aggregate carrying value of $105.5 million as of September 30, 2025.

Here's a snapshot of the loan portfolio composition as of September 30, 2025:

Metric	Value	Context/Date
Total Loan Commitments	$1.8 billion	Q3 2025 End
Number of Loans	44	Q3 2025 End
Senior Loans Percentage	99%	Q3 2025 Portfolio
Floating Rate Loans Percentage	97%	Q3 2025 Portfolio
Weighted Average Stabilized LTV at Origination	65.0%	Q3 2025 Portfolio
Weighted Average Loan Portfolio Risk-Rating	2.8	Q3 2025 End

The Investor Relations (IR) team managing communication with public stockholders maintains a consistent cadence of engagement. For instance, the dates for the Third Quarter 2025 Earnings Release and Conference Call were announced on October 22, 2025, with the call taking place on November 6, 2025. The IR function also manages the distribution of key financial updates, such as the announcement of Third Quarter 2025 Common and Preferred Stock Dividends on September 17, 2025.

Granite Point Mortgage Trust Inc. also manages a transactional relationship with financing counterparties for debt facilities. This involves direct negotiation to secure and optimize the cost of leverage. During the third quarter of 2025, the company reduced the financing spread on its secured credit facility by 75 basis points and reduced borrowings on that facility by $7.5 million. Furthermore, the maturity of this secured credit facility was extended to December 2026. The company expects to further reduce this facility by an additional $7.5 million during the fourth quarter of 2025.

Proactive engagement with borrowers on loan modifications and resolutions is a key operational focus, especially in the current environment where the plan for 2025 has been to remain focused on loan and REO resolutions. This engagement leads to concrete financial outcomes. In Q3 2025, there was one loan resolution totaling $(50.0) million in unpaid principal balance, which included a write-off of $(19.4) million. A specific example of modification involved the office portion of a risk rated "5" office and retail property in Chicago, which was sold, resulting in a net $3.4 million partial paydown on the loan, leaving the remaining loan classified as 100% retail. The company is actively working with borrowers on value-enhancing repositioning opportunities, such as the Miami Beach office property, while prudently investing capital into the asset.

• Loan repayments, partial paydowns, and resolutions totaled about $121 million in Q3 2025.
• The Louisville student housing loan was resolved at over $3 million above its carrying value.
• The company expects to return to its core lending business and restart origination efforts most likely through the first half of 2026.

Finance: draft Q4 2025 liquidity forecast incorporating expected debt facility reduction by Friday.

Granite Point Mortgage Trust Inc. (GPMT) - Canvas Business Model: Channels

You're looking at how Granite Point Mortgage Trust Inc. gets its product-commercial real estate debt investments-to the market and communicates with its owners. It's a mix of direct sales effort and public market presence.

Direct origination team for sourcing and underwriting new loans.

Granite Point Mortgage Trust Inc. relies on its internal team to source and underwrite new deals, though new originations were paused as of late 2025 while the company worked through existing riskier assets. The team is described as 'largely intact,' positioning the company to restart new loan originations by late 2025 or early 2026.

The portfolio activity reflects this focus on resolution over new deployment in the second half of 2025. Here are the key portfolio metrics as of the third quarter end:

Metric	Value (As of Sep 30, 2025)
Total Loan Commitments	$1.8 billion
Net Loan Portfolio Activity (UPB)	$(109.7) million
Fundings (Q3 2025)	$12.7 million
Loan Repayments (Q3 2025)	$72.4 million
Post Quarter-End Fundings (Early Q4 '25)	$2.3 million
Post Quarter-End Repayments (Early Q4 '25)	$32.7 million

The nature of the existing portfolio, which is the result of past origination efforts, shows a clear preference for senior, floating-rate assets:

• Loans as a percentage of portfolio: 100%
• Senior Loans: 99%
• Floating Rate Loans: 97%
• Portfolio Weighted Average Stabilized LTV at Origination: 65.0%
• Realized Loan Portfolio Yield: 7.5%

New York Stock Exchange (NYSE) listing under the ticker GPMT for common and preferred stock.

Trading on the NYSE under the ticker GPMT is the primary channel for Granite Point Mortgage Trust Inc. to attract and retain equity capital. The company has both common and preferred stock outstanding, with dividends declared for the third quarter of 2025.

Here's a look at the public equity structure as of the third quarter 2025 filings:

Security/Metric	Value (As of Sep 30, 2025)
Exchange Ticker	GPMT
Market Capitalization	$130,365,769
Weighted Average Common Shares Outstanding (Basic)	48,026,438
Book Value Per Common Share	$7.94
Q3 2025 Common Stock Dividend Declared	$0.05 per share
Q3 2025 Series A Preferred Stock Dividend Declared	$0.4375 per share

Investor Relations website and SEC filings for shareholder communication.

Granite Point Mortgage Trust Inc. uses its corporate website and mandatory regulatory filings as the formal channels for detailed financial disclosure and ongoing communication with its investor base. These channels provide the granular data you need for deep dives.

Key communication touchpoints and filing dates include:

• Investor Relations Website: www.gpmtreit.com
• Latest Quarterly Report (10-Q) Filing Date: November 5, 2025
• Latest Current Report (8-K) Filing Date: November 5, 2025
• Earnings Release for Q3 2025: November 5, 2025

The company provides access to its full suite of regulatory documents, including the latest 10-Q filing for the third quarter of 2025, via the SEC Filings section of its Investor Relations site. That 10-Q details the financial position, including a Total CECL reserve of $\mathbf{\$133.6 million}$ as of September 30, 2025. Finance: draft 13-week cash view by Friday.

Granite Point Mortgage Trust Inc. (GPMT) - Canvas Business Model: Customer Segments

You're looking at who Granite Point Mortgage Trust Inc. (GPMT) serves with its debt and debt-like commercial real estate investments as of late 2025. The core customer base is split between the borrowers who need financing and the investors who provide the capital.

The borrowers are primarily Commercial Real Estate Sponsors/Developers. Granite Point Mortgage Trust Inc. provides them with intermediate-term bridge or transitional financing for various needs, including acquisitions, recapitalizations, and refinancings. The portfolio, totaling $1.8 billion in commitments as of September 30, 2025, is constructed on a loan-by-loan basis, emphasizing diversification across sponsors. The loans themselves are overwhelmingly senior debt, with 99% being senior first mortgages and over 97% carrying a floating rate structure.

On the capital side, Granite Point Mortgage Trust Inc. serves two main investor groups seeking returns, primarily through dividends:

• Public investors seeking dividend income from common stock, with the declared common stock dividend for the third quarter of 2025 being $0.05 per common share.
• Institutional investors and funds holding GPMT common and preferred equity. The Series A preferred stockholders received a cash dividend of $0.4375 per share for the third quarter of 2025. The Series A Preferred Stock has a liquidation preference of $25.00 per share, with a fixed dividend rate of 7.00% per annum, equivalent to $1.75 per annum per share, until January 15, 2027.

The underlying collateral supporting these debt investments is diversified across property types, which reflects the types of real estate sponsors Granite Point Mortgage Trust Inc. works with. Here is the property type breakdown for the loan portfolio as of September 30, 2025:

Property Type	Percentage of Portfolio Commitments
Office	41.9%
Multifamily	33.2%
Industrial	7.2%
Retail	8.7%
Hotel	6.5%
Other	2.5%

The portfolio is structured to align with the risk appetite of its lenders and investors. The weighted average stabilized loan-to-value ratio at origination across these assets was 65.0%, and the realized loan portfolio yield for the third quarter of 2025 was 7.5%. The company is focused on originating loans in value-add properties within top institutional markets.

Granite Point Mortgage Trust Inc. (GPMT) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Granite Point Mortgage Trust Inc.'s operations as of late 2025. For a commercial real estate finance company like Granite Point Mortgage Trust Inc., the cost of money-borrowing to lend-is usually the biggest line item, so we start there.

Interest expense on secured credit facilities and repurchase agreements is the primary cost of funding the loan portfolio. For the third quarter of 2025, the Total interest expense reported was $23,424, compared to $36,639 in the second quarter of 2025. Granite Point Mortgage Trust Inc. also actively manages its borrowing costs; for instance, during Q3 2025, the company reduced the financing spread on its secured credit facility by 75 basis points. The outstanding balance on the secured credit facility at one point was reported as $2,394 (in the same unit as the interest expense figures).

Next up is the cost associated with potential loan performance issues, which is the Provision for credit losses (CECL reserve). As of September 30, 2025, Granite Point Mortgage Trust Inc. carried a Total CECL reserve of $133.6 million. This reserve represented 7.4% of total loan portfolio commitments at that time. The company recognized a GAAP benefit from the provision for credit losses of approximately $1.6 million for the third quarter of 2025, mainly due to a decrease in the general reserve based on a more favorable macroeconomic forecast.

General and administrative expenses cover the day-to-day running of Granite Point Mortgage Trust Inc., including management and operating costs. While a specific G&A figure isn't isolated in the latest reports, the overall profitability context shows the impact of these overheads. The GAAP net loss attributable to common stockholders for Q3 2025 was $(0.6) million, and the Distributable Loss was $(18.9) million.

Finally, distributions to capital providers are a significant outflow. Granite Point Mortgage Trust Inc. declared a quarterly cash dividend of $0.05 per share of common stock for the third quarter of 2025. For the 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, the declared cash dividend was $0.4375 per share for the same period.

Here's a quick look at the key cost-related financial metrics for Granite Point Mortgage Trust Inc. as of Q3 2025:

Cost Component	Metric/Value	Period/Date
Total Interest Expense	$23,424 (in thousands/millions)	Q3 2025
Total CECL Reserve	$133.6 million	As of Q3 2025 End
GAAP Benefit from Provision for Credit Losses	$1.6 million	Q3 2025
Common Stock Quarterly Dividend Declared	$0.05 per share	Q3 2025
Series A Preferred Stock Quarterly Dividend Declared	$0.4375 per share	Q3 2025

You can see the structure of the costs in terms of the company's performance metrics:

• GAAP net loss attributable to common stockholders: $(0.6) million for Q3 2025.
• Distributable Earnings (Loss) for the quarter: $(18.9) million.
• Book value per common share: $7.94 as of September 30, 2025.
• The book value included $(2.82) per common share of the total CECL reserve.
• The company expects further reduction in the secured credit facility by an additional $7.5 million in Q4 2025, aiming for a total reduction of $15 million for 2025.

Finance: draft 13-week cash view by Friday.

Granite Point Mortgage Trust Inc. (GPMT) - Canvas Business Model: Revenue Streams

You're looking at how Granite Point Mortgage Trust Inc. (GPMT) brings in money as of late 2025. The model is heavily weighted toward the income generated from its lending activities, which is typical for a commercial mortgage REIT.

The primary engine for Granite Point Mortgage Trust Inc. revenue streams is the Net interest income from the senior floating-rate commercial mortgage loan portfolio. As of the third quarter of 2025, the portfolio was carried at 97% floating rate, which helps manage interest rate risk. For that quarter, the realized loan portfolio yield hit 7.5%, up from 7.1% in the prior quarter, partly due to a reduced proportion of non-accrual loans in the portfolio. Honestly, this interest income growth is key; Q3 2025 saw a 34% year-over-year increase in net interest income, which helped offset other drags on earnings.

Cash flow from the existing book also comes from the natural cycle of debt. You saw Loan repayments and partial paydowns, totaling $72.4 million in Q3 2025. This figure includes a specific $3.4 million partial paydown on a risk-rated "5" loan secured by office and retail property in Chicago, IL. Post-quarter, the activity continued, with Granite Point Mortgage Trust Inc. receiving a full loan repayment of $32.7 million in the early part of Q4 2025.

Another component involves cleaning up the portfolio, which generates proceeds, though it's not the main driver. This includes Gains or proceeds from the resolution and sale of Real Estate Owned (REO) properties. For example, Granite Point Mortgage Trust Inc. resolved a loan secured by a student housing property in Louisville, KY, in July 2025, expecting to recognize a GAAP benefit from provision for credit losses of approximately $3.3 million following a write-off. Furthermore, post-quarter-end activity included refinancing an REO property in Maynard, MA, with a first mortgage of $18.0 million.

When you look at the top line, the overall revenue picture for 2025 is still being finalized, but estimates are available. The Full-year 2025 revenue is estimated at $36.51 million, mostly from interest income. To give you context on recent performance, the reported revenue for the quarter ending September 30, 2025, was $15.6M, and the trailing twelve-month revenue as of that date was $43.91 Million USD.

Here's a quick look at some of those key Q3 2025 figures for Granite Point Mortgage Trust Inc.:

Metric	Amount / Rate
Q3 2025 Reported Revenue	$15.6M
Q3 2025 Loan Repayments & Paydowns	$72.4 million
Portfolio Weighted Average Stabilized LTV (at origination)	65.0%
Realized Loan Portfolio Yield (Q3 2025)	7.5%
Total Loan Portfolio Commitments (Q3 2025 End)	$1.8 billion

The revenue generation strategy is clearly focused on maximizing yield from its senior secured position, but the near-term focus is on asset resolution, not new originations. Management has been clear: new loan originations are unlikely until mid-2026, so the near-term revenue will be dominated by interest accrual and repayments/resolutions.

You can see the components driving the interest income below:

• Senior floating-rate commercial mortgage loans comprise over 99% of the portfolio as senior loans.
• The portfolio is concentrated, with 44 investments and an average outstanding principal balance of about $39 million.
• The company is managing its credit exposure, with the CECL reserve at 7.4% of total loan portfolio commitments as of September 30, 2025.
• The strategy prioritizes preservation of book value over growth, shrinking loans held-for-investment by 18% since year-end 2024.

Finance: review the impact of the extended credit facility on Q4 interest expense by next Tuesday.