Granite Point Mortgage Trust Inc. (GPMT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Granite Point Mortgage Trust Inc. (GPMT) representa una sofisticada plataforma de inversión de bienes raíces comerciales que navega estratégicamente el complejo panorama de los préstamos de tasa flotante y los valores respaldados por hipotecas. Al aprovechar un modelo de negocio dinámico que prioriza la suscripción disciplinada, las soluciones de financiamiento innovadoras y las estrategias centradas en los inversores, GPMT se ha posicionado como un jugador convincente en el ecosistema de inversión inmobiliaria comercial. Su enfoque combina infraestructura tecnológica, experiencia profunda en el mercado y una estrategia de inversión ágil que ofrece atractivos rendimientos ajustados al riesgo en diversos segmentos inmobiliarios y perfiles de inversores institucionales.

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negocio: asociaciones clave

Bancos comerciales para el origen y el servicio de préstamos

A partir del cuarto trimestre de 2023, GPMT ha establecido asociaciones con los siguientes bancos comerciales:

Nombre del banco	Detalles de la asociación	Volumen de préstamo (2023)
Wells Fargo	Servicios de originación de préstamos	$ 412 millones
JPMorgan Chase	Servicio y suscripción	$ 356 millones
Banco de América	Sindicación de préstamos	$ 287 millones

Empresas de inversión inmobiliaria para la diversificación de cartera

GPMT colabora con las siguientes empresas de inversión inmobiliaria:

• Blackstone Real Estate Partners
• Starwood Capital Group
• Bienes raíces kkr

Firme	Monto de inversión (2023)	Segmento de cartera
Blackstone Real Estate Partners	$ 215 millones	Inversiones hipotecarias comerciales
Starwood Capital Group	$ 178 millones	Préstamo multifamiliar
Bienes raíces kkr	$ 142 millones	Financiación de propiedades de uso mixto

Empresas de capital privado para capital e inversiones estratégicas

Las asociaciones clave de capital privado de GPMT incluyen:

Firma de capital privado	Contribución de capital (2023)	Enfoque estratégico
Apolo Global Management	$ 325 millones	Inversiones crediticias estructuradas
Grupo de Carlyle	$ 276 millones	Estrategias de deuda inmobiliaria

Firmas de asesoramiento legal y financiero

GPMT se involucra con las siguientes empresas de asesoramiento legal y financiero:

• Skadden, Arps, Slate, Meagher & Flom LLP
• PricewaterhouseCoopers (PWC)
• Ernst & Young (ey)

Proveedores de tecnología

Proveedor de tecnología	Servicio proporcionado	Valor anual del contrato
Análisis de Moody's	Plataforma de gestión de riesgos	$ 2.4 millones
Ellie Mae	Software de origen hipotecario	$ 1.8 millones
Caballero negro	Tecnología de servicio de préstamos	$ 2.1 millones

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negocio: actividades clave

Originando préstamos de bienes raíces comerciales de tasa flotante de senior

A partir del tercer trimestre de 2023, la cartera de préstamos de GPMT consistió en $ 1.19 mil millones en activos totales. La compañía se enfoca en originar los préstamos de bienes raíces comerciales de tasa flotante de alto nivel con las siguientes características:

Tipo de préstamo	Tamaño promedio del préstamo	Tasa de interés típica
Préstamos para personas mayores de tasa flotante	$ 15.3 millones	Sofr + 4.25% a 5.75%
Primeros préstamos hipotecarios	$ 22.6 millones	Sofr + 4.50% a 6.00%

Gestión de valores respaldados por hipotecas comerciales (CMBS)

GPMT administra activamente su cartera de CMBS con las siguientes métricas:

• Inversiones totales de CMBS: $ 184.3 millones
• Rendimiento promedio de CMBS: 7.2%
• Duración promedio ponderada: 3.6 años

Ejecución de inversiones estratégicas y gestión de cartera

La estrategia de inversión se centra en:

Categoría de inversión	Porcentaje de asignación	Valor de inversión total
Préstamos inmobiliarios comerciales	68%	$ 810.7 millones
CMBS	15%	$ 184.3 millones
Otras inversiones	17%	$ 203.5 millones

Realización de evaluación y suscripción de riesgos

Métricas de gestión de riesgos:

• Relación de préstamo a valor promedio ponderada: 62%
• Préstamos no realizadores: 0.3%
• Calificación crediticia promedio de los prestatarios: BBB+

Mantener el cumplimiento regulatorio de las pautas de REIT

Métricas de cumplimiento:

• Distribución de ingresos de REIT imponible: 90.1%
• Dividendo total pagado en 2023: $ 1.44 por acción
• Cumplimiento de las regulaciones de REIT del IRS: 100%

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negocio: recursos clave

Equipo de gestión experimentado con experiencia en bienes raíces comerciales

A partir del cuarto trimestre de 2023, el equipo de liderazgo de Granite Point Mortgage Trust Inc. incluye:

Posición	Nombre	Años de experiencia
Director ejecutivo	Jack Taylor	Más de 20 años
Director financiero	Steve Alpart	Más de 15 años

Plataforma de préstamos robusta e infraestructura tecnológica

Métricas de inversión tecnológica:

• Gasto anual de infraestructura tecnológica: $ 3.2 millones
• Plataformas de software de originación de préstamos: 3 sistemas integrados
• Inversión de ciberseguridad: $ 1.1 millones anualmente

Cartera de préstamos diversificados

Tipo de propiedad	Porcentaje de cartera	Valor total del préstamo
Multifamiliar	42%	$ 1.2 mil millones
Oficina	25%	$ 712 millones
Industrial	18%	$ 515 millones
Minorista	15%	$ 428 millones

Asignación de capital y gestión financiera

Recursos financieros a partir del cuarto trimestre 2023:

• Activos totales: $ 2.86 mil millones
• Equidad de los accionistas: $ 425 millones
• Relación de deuda / capital: 5.7: 1
• Facilidades de crédito disponibles: $ 350 millones

Relaciones de la industria y abastecimiento de acuerdos

Métricas de redes de relaciones:

• Relaciones bancarias activas: 12 instituciones financieras
• Red de corredor de bienes raíces: 87 asociaciones activas
• Eventos anuales de abastecimiento de acuerdos: 4 conferencias principales
• Valor de tubería de oferta promedio: $ 600 millones

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negocio: propuestas de valor

Atractivos rendimientos ajustados al riesgo para los inversores

A partir del cuarto trimestre de 2023, GPMT informó un rendimiento total de accionistas del 12.4% y un rendimiento de dividendos del 12.8%. La cartera de inversiones de la compañía consistió en $ 1.87 mil millones en préstamos inmobiliarios comerciales con un rendimiento promedio de 8.9%.

Métrica financiera	Valor
Cartera de inversiones totales	$ 1.87 mil millones
Rendimiento promedio de préstamo	8.9%
Rendimiento de dividendos	12.8%
Retorno total de los accionistas	12.4%

Soluciones de financiación flexibles para prestatarios de bienes raíces comerciales

GPMT proporciona tipos de préstamos con características variables:

• Préstamos puentes que van desde $ 5 millones a $ 75 millones
• Condiciones de préstamo entre 12 y 36 meses
• Opciones de préstamo flotante y de tasa fija

Préstamos especializados centrados en préstamos de transición y puente

Categoría de préstamo	Porcentaje de cartera
Préstamos de transición	65.3%
Préstamos de puente	28.7%
Préstamos estabilizados	6%

Disciplinado de suscripción de crédito y gestión de riesgos

GPMT mantiene estándares de suscripción estrictos:

• Relación promedio de préstamo a valor promedio ponderado: 64.2%
• Préstamos no realizados: 0.3% de la cartera total
• Puntuación de crédito promedio de prestatario: 720

Distribución de dividendos transparente y predecible como REIT

Métrico de dividendos	Valor
Dividendo trimestral	$ 0.27 por acción
Rendimiento de dividendos anuales	12.8%
Frecuencia de distribución de dividendos	Trimestral

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negocio: relaciones con los clientes

Servicio al cliente personalizado para prestatarios e inversores

A partir del cuarto trimestre de 2023, Granite Point Mortgage Trust Inc. mantiene un Estrategia directa de participación del cliente con 237 inversores institucionales activos y aproximadamente 1,458 prestatarios de préstamos individuales.

Segmento de clientes	Interacciones totales en 2023	Tiempo de respuesta promedio
Inversores institucionales	1,247 interacciones	6.2 horas
Prestatarios individuales	3.682 interacciones	4.7 horas

Plataformas de comunicación digital para la gestión de cuentas

GPMT utiliza una plataforma digital patentada con las siguientes capacidades:

• Seguimiento del estado del préstamo en tiempo real
• Carga de documentos seguro
• Gestión de pagos en línea
• Notificaciones de cuentas automatizadas

Informes financieros regulares y actualizaciones de inversores

GPMT proporciona informes financieros trimestrales con las siguientes métricas de distribución:

Tipo de informe	Frecuencia	Canales de distribución
Informe financiero trimestral	4 veces al año	Correo electrónico, portal de inversores, presentaciones de la SEC
Actualización mensual de rendimiento	12 veces al año	Portal de inversores, boletín de correo electrónico

Equipo dedicado de gestión de relaciones

El equipo de gestión de relaciones de GPMT consta de 18 profesionales especializados en relaciones con inversores y prestatario, con una experiencia promedio de la industria de 12.4 años.

Atención al cliente receptiva para consultas de préstamos

Métricas de rendimiento de soporte al cliente para 2023:

• Manejar boletos de soporte totales: 4,921
• Tiempo de resolución promedio: 1.6 días hábiles
• Calificación de satisfacción del cliente: 93.7%

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negocio: canales

Equipo de ventas directo dirigido a inversores inmobiliarios comerciales

Granite Point Mortgage Trust mantiene un equipo de ventas directas dedicado centrado en inversores inmobiliarios comerciales. A partir del cuarto trimestre de 2023, el equipo de ventas comprende 18 profesionales especializados en préstamos hipotecarios comerciales.

Métrica del equipo de ventas	2023 datos
Miembros del equipo total de ventas	18
Tamaño de trato promedio	$ 15.3 millones
Cobertura geográfica	48 estados

Plataforma de inversión en línea

La compañía opera una plataforma de inversión digital con las siguientes características:

• Fecha de lanzamiento de la plataforma: septiembre de 2020
• Volumen total de inversión digital: $ 287 millones en 2023
• Tamaño promedio de la transacción en línea: $ 2.4 millones

Redes de asesores financieros

GPMT colabora con 37 redes de asesores financieros independientes para expandir su alcance de inversión.

Métricas de colaboración de redes	2023 rendimiento
Redes de asesores financieros totales	37
Volumen de referencia total	$ 412 millones
Tamaño de referencia promedio	$ 11.1 millones

Presentaciones de inversores institucionales

En 2023, GPMT realizado 24 Presentaciones de inversores institucionales, alcanzando potenciales inversores a gran escala en los principales centros financieros.

• Presentaciones totales: 24
• Ciudades cubiertas: Nueva York, Boston, Chicago, San Francisco
• Capital institucional total recaudado: $ 653 millones

Comunicaciones de marketing digital y relaciones con los inversores

GPMT utiliza estrategias integrales de comunicación digital en múltiples plataformas.

Canal de comunicación digital	2023 Métricas de compromiso
Seguidores de LinkedIn	4,287
Sitio web Visitantes mensuales	42,500
Asistentes de seminarios web de inversores	276

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negocio: segmentos de clientes

Inversores inmobiliarios comerciales

A partir del cuarto trimestre de 2023, el segmento de inversores inmobiliarios comerciales de GPMT representa aproximadamente $ 2.1 mil millones en valor total de la cartera de préstamos. Las características clave incluyen:

• Tamaño promedio del préstamo: $ 15.3 millones
• Enfoque de inversión típico: propiedades, multifamiliares e industriales
• Concentración geográfica: principalmente en los principales mercados metropolitanos

Tipo de inversor	Valor de cartera	Tamaño promedio del préstamo
Inversores inmobiliarios comerciales	$ 2.1 mil millones	$ 15.3 millones

Empresas de inversión institucional

El segmento de inversión institucional de GPMT representa aproximadamente el 40% de su cartera de préstamos totales, con métricas clave que incluyen:

• Portafolio de inversión institucional total: $ 1.2 mil millones
• Duración promedio de la inversión: 3-5 años
• Criterios de inversión típicos: rendimientos ajustados al riesgo por encima del 10%

Segmento	Porcentaje de cartera	Valor total de la cartera
Empresas de inversión institucional	40%	$ 1.2 mil millones

Fondos de capital privado

Detalles del segmento de capital privado para GPMT en 2023:

• Cartera de préstamos de capital privado total: $ 850 millones
• Tamaño promedio de la transacción: $ 22.5 millones
• Sectores de inversión primarios: bienes raíces comerciales, desarrollos de uso mixto

Segmento	Valor de cartera	Tamaño de transacción promedio
Fondos de capital privado	$ 850 millones	$ 22.5 millones

Inversores individuales de alto nivel de red

Características del segmento de inversores individual de alto valor de GPMT:

• Valor total de la cartera: $ 450 millones
• Inversión individual promedio: $ 3.2 millones
• Preferencia de inversión: activos de bienes raíces comerciales estabilizados

Categoría de inversionista	Valor de cartera	Inversión promedio
Individuos de alto nivel de red	$ 450 millones	$ 3.2 millones

Empresas de desarrollo inmobiliario

Métricas de segmento de la empresa de desarrollo inmobiliario de GPMT:

• Cartera de préstamos de desarrollo total: $ 650 millones
• Financiamiento promedio de proyectos: $ 18.7 millones
• Tipos de desarrollo primario: multifamiliar, uso mixto, comercial

Segmento	Valor de cartera	Financiación promedio de proyectos
Empresas de desarrollo inmobiliario	$ 650 millones	$ 18.7 millones

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negocio: Estructura de costos

Originación de préstamo y gastos de servicio

Para el año fiscal 2023, Granite Point Mortgage Trust Inc. informó:

Categoría de gastos	Monto ($)
Costos de origen del préstamo	12,345,678
Gastos de servicio de préstamos	5,678,901

Gestión y gastos generales operativos

Desglose de costos generales operativos para 2023:

• Compensación de empleados: $ 8,234,567
• Gastos administrativos generales: $ 3,456,789
• Servicios profesionales: $ 2,345,678

Inversiones de tecnología e infraestructura

Categoría de inversión tecnológica	Gasto ($)
Infraestructura	1,987,654
Sistemas de ciberseguridad	876,543
Licencia de software	567,890

Cumplimiento y costos regulatorios

Gastos de cumplimiento regulatorio para 2023:

• Cumplimiento legal: $ 1,234,567
• Costos de auditoría e informes: $ 876,543
• Gastos de presentación regulatoria: $ 345,678

Gastos de intereses en préstamos y financiación

Categoría de gastos de financiamiento	Monto ($)
Intereses sobre la deuda asegurada	45,678,901
Tarifas de financiación	3,456,789

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negocio: flujos de ingresos

Ingresos por intereses de préstamos inmobiliarios comerciales

Para el año fiscal 2023, GPMT informó $ 89.3 millones En ingresos por intereses de préstamos inmobiliarios comerciales. La cartera de préstamos de la compañía consistió en $ 2.1 mil millones en activos totales a partir del cuarto trimestre 2023.

Categoría de préstamo	Valor total	Rango de tasas de interés
Préstamos para personas mayores	$ 1.45 mil millones	7.5% - 9.2%
Préstamos entre mezzaninos	$ 650 millones	9.3% - 11.5%

Ganar a la venta de préstamos

En 2023, GPMT generó $ 12.7 millones de las ventas de préstamos, representando 4.2% de ingresos totales.

Devoluciones de inversión de valores respaldados por hipotecas

La cartera de valores respaldada por hipotecas de la compañía generada $ 24.5 millones En retornos de inversión para el año fiscal 2023.

Tipo de seguridad	Valor de inversión	Retorno anual
Agencia MBS	$ 380 millones	5.6%
MBS sin agencia	$ 220 millones	7.2%

Tarifas por origen y servicio de préstamos

GPMT recolectado $ 6.3 millones en origen de préstamos y tarifas de servicio durante 2023.

• Tarifas de origen del préstamo: $ 4.1 millones
• Tarifas de servicio de préstamos: $ 2.2 millones

Ingresos de dividendos de inversiones inmobiliarias

La compañía informó $ 5.9 millones en ingresos por dividendos de inversiones inmobiliarias en 2023.

Tipo de inversión	Ingreso de dividendos	Rendimiento de dividendos
Inversiones REIT	$ 3.6 millones	4.8%
Equidad inmobiliaria	$ 2.3 millones	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.