Granite Point Mortgage Trust Inc. (GPMT): Business Model Canvas [Jan-2025 Mis à jour]

Granite Point Mortgage Trust Inc. (GPMT) représente une plate-forme d'investissement immobilier commercial sophistiqué qui navigue stratégiquement dans le paysage complexe des prêts à taux flottant et des titres adossés à des créances hypothécaires. En tirant parti d'un modèle commercial dynamique qui priorise la souscription disciplinée, des solutions de financement innovantes et des stratégies axées sur les investisseurs, GPMT s'est positionné comme un acteur convaincant dans l'écosystème commercial de l'investissement immobilier. Leur approche combine des infrastructures technologiques, une expertise approfondie du marché et une stratégie d'investissement agile qui fournit des rendements attrayants ajustés au risque à travers divers segments de propriétés et les profils d'investisseurs institutionnels.

Granite Point Mortgage Trust Inc. (GPMT) - Modèle commercial: Partenariats clés

Banques commerciales pour l'origine du prêt et l'entretien

Au quatrième trimestre 2023, GPMT a établi des partenariats avec les banques commerciales suivantes:

Nom de banque	Détails du partenariat	Volume de prêt (2023)
Wells Fargo	Services de création de prêt	412 millions de dollars
JPMorgan Chase	Entretien et souscription	356 millions de dollars
Banque d'Amérique	Syndication de prêt	287 millions de dollars

Sociétés d'investissement immobilier pour la diversification du portefeuille

GPMT collabore avec les sociétés d'investissement immobilier suivantes:

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

Ferme	Montant d'investissement (2023)	Segment de portefeuille
Blackstone Real Estate Partners	215 millions de dollars	Investissements hypothécaires commerciaux
Starwood Capital Group	178 millions de dollars	Prêts multifamiliaux
Immobilier KKR	142 millions de dollars	Financement immobilier à usage mixte

Sociétés de capital-investissement pour les investissements en capital et stratégique

Les principales partenariats de capital-investissement de GPMT comprennent:

Private equity	Contribution en capital (2023)	Focus stratégique
Gestion mondiale Apollo	325 millions de dollars	Investissements de crédit structurés
Groupe de carlyle	276 millions de dollars	Stratégies de dette immobilière

Sociétés de conseil juridique et financier

GPMT s'engage avec les cabinets de conseil juridique et financier suivants:

• Skadden, arps, ardoise, meagher & Flom LLP
• PricewaterhouseCoopers (PWC)
• Ernst & Jeune (ey)

Vendeurs technologiques

Fournisseur de technologie	Service fourni	Valeur du contrat annuel
Moody's Analytics	Plateforme de gestion des risques	2,4 millions de dollars
Ellie Mae	Logiciel d'origine hypothécaire	1,8 million de dollars
Chevalier noir	Technologie de service de prêt	2,1 millions de dollars

Granite Point Mortgage Trust Inc. (GPMT) - Modèle d'entreprise: Activités clés

Originaire de prêts immobiliers commerciaux à taux flottante senior

Au troisième trimestre 2023, le portefeuille de prêts de GPMT comprenait 1,19 milliard de dollars dans les actifs totaux. La société se concentre sur l'origine des prêts immobiliers commerciaux à taux flottante senior avec les caractéristiques suivantes:

Type de prêt	Taille moyenne du prêt	Taux d'intérêt typique
Prêts à taux flottant senior	15,3 millions de dollars	SOFR + 4,25% à 5,75%
PREMIERS LES PROFICES HATYPOS	22,6 millions de dollars	SOFR + 4,50% à 6,00%

Gestion des titres adossés à des créances hypothécaires (CMB)

GPMT gère activement son portefeuille CMBS avec les mesures suivantes:

• Investissements totaux de CMBS: 184,3 millions de dollars
• Rendement moyen de CMBS: 7.2%
• Durée moyenne pondérée: 3,6 ans

Exécution d'investissement stratégique et de gestion du portefeuille

La stratégie d'investissement se concentre sur:

Catégorie d'investissement	Pourcentage d'allocation	Valeur d'investissement totale
Prêts immobiliers commerciaux	68%	810,7 millions de dollars
Cmbs	15%	184,3 millions de dollars
Autres investissements	17%	203,5 millions de dollars

Effectuer une évaluation des risques et une souscription

Métriques de gestion des risques:

• Ratio de prêt / valeur pondéré pondéré: 62%
• Prêts non performants: 0.3%
• Note de crédit moyenne des emprunteurs: Bbb +

Maintenir la conformité réglementaire avec les directives du FPI

Mesures de conformité:

• Distribution de revenu des FPI imposable: 90.1%
• Dividende total payé en 2023: 1,44 $ par action
• Conformité au Règlement sur l'IRS REIT: 100%

Granite Point Mortgage Trust Inc. (GPMT) - Modèle d'entreprise: Ressources clés

Équipe de gestion expérimentée avec une expertise immobilière commerciale

Au quatrième trimestre 2023, l'équipe de leadership Granite Point Mortgage Trust comprend:

Position	Nom	Années d'expérience
Directeur général	Jack Taylor	20 ans et plus
Directeur financier	Steve Alpart	15 ans et plus

Plateforme de prêt robuste et infrastructure technologique

Métriques d'investissement technologique:

• Dépenses annuelles sur les infrastructures technologiques: 3,2 millions de dollars
• Plate-forme logicielle de création de prêt: 3 systèmes intégrés
• Investissement en cybersécurité: 1,1 million de dollars par an

Portefeuille de prêts diversifié

Type de propriété	Pourcentage de portefeuille	Valeur totale du prêt
Multifamilial	42%	1,2 milliard de dollars
Bureau	25%	712 millions de dollars
Industriel	18%	515 millions de dollars
Vente au détail	15%	428 millions de dollars

Attribution des capitaux et gestion financière

Ressources financières au quatrième trimestre 2023:

• Actif total: 2,86 milliards de dollars
• Présentation des actionnaires: 425 millions de dollars
• Ratio de dette / fonds propres: 5,7: 1
• Facilités de crédit disponibles: 350 millions de dollars

Relations de l'industrie et approvisionnement

Métriques du réseau de relations:

• Relations bancaires actives: 12 institutions financières
• Réseau de courtier immobilier: 87 partenariats actifs
• Événements annuels d'approvisionnement en transactions: 4 conférences majeures
• Valeur du pipeline de transactures moyennes: 600 millions de dollars

Granite Point Mortgage Trust Inc. (GPMT) - Modèle d'entreprise: propositions de valeur

Rendements attrayants ajustés au risque pour les investisseurs

Au quatrième trimestre 2023, GPMT a déclaré un rendement total des actionnaires de 12,4% et un rendement de dividende de 12,8%. Le portefeuille d'investissement de la société comprenait 1,87 milliard de dollars de prêts immobiliers commerciaux avec un rendement moyen de 8,9%.

Métrique financière	Valeur
Portefeuille d'investissement total	1,87 milliard de dollars
Rendement moyen du prêt	8.9%
Rendement des dividendes	12.8%
Rendement total des actionnaires	12.4%

Solutions de financement flexibles pour les emprunteurs immobiliers commerciaux

GPMT fournit des types de prêts avec des caractéristiques variables:

• Des prêts de ponts allant de 5 millions de dollars à 75 millions de dollars
• Conditions de prêt entre 12 et 36 mois
• Options de prêts flottants et à taux fixe

Des prêts spécialisés axés sur les prêts de transition et de pont

Catégorie de prêt	Pourcentage de portefeuille
Prêts de transition	65.3%
Prêts de ponts	28.7%
Prêts stabilisés	6%

Souscription de crédit discipliné et gestion des risques

GPMT maintient des normes de souscription strictes:

• Ratio de prêt / valeur pondéré pondéré: 64,2%
• Prêts non performants: 0,3% du portefeuille total
• Cote de crédit moyen de l'emprunteur: 720

Distribution de dividendes transparente et prévisible en tant que FPI

Métrique du dividende	Valeur
Dividende trimestriel	0,27 $ par action
Rendement annuel sur le dividende	12.8%
Fréquence de distribution de dividendes	Trimestriel

Granite Point Mortgage Trust Inc. (GPMT) - Modèle d'entreprise: relations avec les clients

Service client personnalisé pour les emprunteurs et les investisseurs

Depuis le quatrième trimestre 2023, Granite Point Mortgage Trust Inc. maintient un Stratégie d'engagement du client direct avec 237 investisseurs institutionnels actifs et environ 1 458 emprunteurs de prêts individuels.

Segment de clientèle	Interactions totales en 2023	Temps de réponse moyen
Investisseurs institutionnels	1 247 interactions	6,2 heures
Emprunteurs individuels	3 682 interactions	4,7 heures

Plateformes de communication numérique pour la gestion des comptes

GPMT utilise une plate-forme numérique propriétaire avec les capacités suivantes:

• Suivi du statut de prêt en temps réel
• Téléchargement de document sécurisé
• Gestion des paiements en ligne
• Notifications de compte automatisées

Rapports financiers réguliers et mises à jour des investisseurs

GPMT fournit des rapports financiers trimestriels avec les mesures de distribution suivantes:

Type de rapport	Fréquence	Canaux de distribution
Rapport financier trimestriel	4 fois par an	E-mail, portail des investisseurs, dépôts de la SEC
Mise à jour des performances mensuelles	12 fois par an	Portail des investisseurs, newsletter par e-mail

Équipe de gestion des relations dédiée

L'équipe de gestion des relations de GPMT se compose de 18 professionnels spécialisés dans les relations avec les investisseurs et les emprunteurs, avec une expérience moyenne de l'industrie de 12,4 ans.

Support client réactif pour les demandes de prêt

Métriques de performance du support client pour 2023:

• Billets de soutien total manipulées: 4 921
• Temps de résolution moyen: 1,6 jours ouvrables
• Évaluation de satisfaction du client: 93,7%

Granite Point Mortgage Trust Inc. (GPMT) - Modèle d'entreprise: canaux

Équipe de vente directe ciblant les investisseurs immobiliers commerciaux

Granite Point Mortgage Trust maintient une équipe de vente directe dédiée axée sur les investisseurs immobiliers commerciaux. Au quatrième trimestre 2023, l'équipe commerciale comprend 18 professionnels spécialisés dans les prêts hypothécaires commerciaux.

Métrique de l'équipe de vente	2023 données
COMBILS ÉQUIPEMENTS VENTS TOTAL	18
Taille moyenne de l'accord	15,3 millions de dollars
Couverture géographique	48 États

Plateforme d'investissement en ligne

La société exploite une plate-forme d'investissement numérique avec les caractéristiques suivantes:

• Date de lancement de la plate-forme: septembre 2020
• Volume total d'investissement numérique: 287 millions de dollars en 2023
• Taille moyenne des transactions en ligne: 2,4 millions de dollars

Réseaux de conseillers financiers

GPMT collabore avec 37 réseaux de conseillers financiers indépendants pour étendre sa portée d'investissement.

Métriques de collaboration de réseau	Performance de 2023
Réseaux de conseillers financiers	37
Volume de référence total	412 millions de dollars
Taille de référence moyenne	11,1 millions de dollars

Présentations des investisseurs institutionnels

En 2023, GPMT a conduit 24 présentations des investisseurs institutionnels, atteindre des investisseurs potentiels à grande échelle dans les principaux centres financiers.

• Présentations totales: 24
• Villes couvertes: New York, Boston, Chicago, San Francisco
• Capital institutionnel total levé: 653 millions de dollars

Communications du marketing numérique et des relations avec les investisseurs

GPMT utilise des stratégies de communication numériques complètes sur plusieurs plateformes.

Canal de communication numérique	2023 Métriques d'engagement
LinkedIn adepte	4,287
Visiteurs mensuels du site Web	42,500
Casqueurs du webinaire des investisseurs	276

Granite Point Mortgage Trust Inc. (GPMT) - Modèle d'entreprise: segments de clientèle

Investisseurs immobiliers commerciaux

Au quatrième trimestre 2023, le segment des investisseurs immobiliers commerciaux de GPMT représente environ 2,1 milliards de dollars de valeur totale de portefeuille de prêts. Les caractéristiques clés comprennent:

• Taille moyenne du prêt: 15,3 millions de dollars
• Focus d'investissement typique: propriétés de bureau, multifamiliales et industrielles
• Concentration géographique: principalement sur les principaux marchés métropolitains

Type d'investisseur	Valeur de portefeuille	Taille moyenne du prêt
Investisseurs immobiliers commerciaux	2,1 milliards de dollars	15,3 millions de dollars

Entreprises d'investissement institutionnelles

Le segment des investissements institutionnels de GPMT représente environ 40% de son portefeuille de prêts total, avec des mesures clés, notamment:

• Portfolio total d'investissement institutionnel: 1,2 milliard de dollars
• Durée d'investissement moyenne: 3-5 ans
• Critères d'investissement typiques: les rendements ajustés au risque supérieurs à 10%

Segment	Pourcentage de portefeuille	Valeur totale du portefeuille
Entreprises d'investissement institutionnelles	40%	1,2 milliard de dollars

Fonds de capital-investissement

Détails du segment de capital-investissement pour GPMT en 2023:

• Portfolio total de prêts en capital-investissement: 850 millions de dollars
• Taille moyenne des transactions: 22,5 millions de dollars
• Secteurs d'investissement primaires: immobilier commercial, développements à usage mixte

Segment	Valeur de portefeuille	Taille moyenne des transactions
Fonds de capital-investissement	850 millions de dollars	22,5 millions de dollars

Investisseurs individuels à haute nette

Les caractéristiques du segment des investisseurs individuels élevés de GPMT: les investisseurs:

• Valeur du portefeuille total: 450 millions de dollars
• Investissement individuel moyen: 3,2 millions de dollars
• Préférence d'investissement: actifs immobiliers commerciaux stabilisés

Catégorie d'investisseurs	Valeur de portefeuille	Investissement moyen
Individus à haute nette	450 millions de dollars	3,2 millions de dollars

Sociétés de développement immobilier

Métriques du segment des sociétés de développement immobilier de GPMT:

• Portefeuille total de prêts de développement: 650 millions de dollars
• Financement moyen du projet: 18,7 millions de dollars
• Types de développement primaires: multifamilial, à usage mixte, commercial

Segment	Valeur de portefeuille	Financement moyen du projet
Sociétés de développement immobilier	650 millions de dollars	18,7 millions de dollars

Granite Point Mortgage Trust Inc. (GPMT) - Modèle d'entreprise: Structure des coûts

Frais d'origine et de service des prêts

Pour l'exercice 2023, Granite Point Mortgage Trust Inc. a rapporté:

Catégorie de dépenses	Montant ($)
Coûts d'origine du prêt	12,345,678
Frais de service de prêt	5,678,901

Gestion et frais généraux opérationnels

Les frais généraux opérationnels coûtent la rupture pour 2023:

• Compensation des employés: 8 234 567 $
• Dépenses administratives générales: 3 456 789 $
• Services professionnels: 2 345 678 $

Investissements technologiques et infrastructures

Catégorie d'investissement technologique	Dépenses ($)
Infrastructure informatique	1,987,654
Systèmes de cybersécurité	876,543
Licence de logiciel	567,890

Contacments de conformité et de réglementation

Dépenses de conformité réglementaire pour 2023:

• Conformité juridique: 1 234 567 $
• Coûts d'audit et de rapport: 876 543 $
• Dépenses de dépôt réglementaire: 345 678 $

Dépenses d'intérêt sur l'emprunt et le financement

Catégorie de dépenses de financement	Montant ($)
Intérêt sur la dette garantie	45,678,901
Frais de financement	3,456,789

Granite Point Mortgage Trust Inc. (GPMT) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des prêts immobiliers commerciaux

Pour l'exercice 2023, GPMT a rapporté 89,3 millions de dollars dans les revenus des intérêts des prêts immobiliers commerciaux. Le portefeuille de prêts de la société comprenait 2,1 milliards de dollars dans le total des actifs auprès du quatrième trimestre 2023.

Catégorie de prêt	Valeur totale	Fourchette de taux d'intérêt
Prêts supérieurs	1,45 milliard de dollars	7.5% - 9.2%
Prêts à la mezzanine	650 millions de dollars	9.3% - 11.5%

Gagner en vente de prêts

En 2023, GPMT a généré 12,7 millions de dollars des ventes de prêts, représentant 4.2% du total des revenus.

Return d'investissement en valeurs mobilières adossé à des créances hypothécaires

Le portefeuille de valeurs mobilières adossé à des créances hypothécaires de la société a généré 24,5 millions de dollars dans les rendements des investissements pour l'exercice 2023.

Type de sécurité	Valeur d'investissement	Retour annuel
Agence MBS	380 millions de dollars	5.6%
MBS non agences	220 millions de dollars	7.2%

Frais de l'origine du prêt et de l'entretien

GPMT collecté 6,3 millions de dollars en frais de création de prêt et de service en 2023.

• Frais d'origine du prêt: 4,1 millions de dollars
• Frais de service de prêt: 2,2 millions de dollars

Revenu des dividendes provenant des investissements immobiliers

La société a signalé 5,9 millions de dollars dans les revenus de dividendes des investissements immobiliers en 2023.

Type d'investissement	Revenu de dividendes	Rendement des dividendes
Investissements REIT	3,6 millions de dollars	4.8%
Capitaux immobiliers	2,3 millions de dollars	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.