Granite Point Mortgage Trust Inc. (GPMT): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Granite Point Mortgage Trust Inc. (GPMT) representa uma sofisticada plataforma de investimento imobiliário comercial que navega estrategicamente no cenário complexo de empréstimos com taxa flutuante e títulos lastreados em hipotecas. Ao alavancar um modelo de negócios dinâmico que prioriza a subscrição disciplinada, soluções inovadoras de financiamento e estratégias focadas em investidores, a GPMT se posicionou como um participante atraente no ecossistema de investimento imobiliário comercial. Sua abordagem combina infraestrutura tecnológica, profunda experiência no mercado e uma estratégia de investimento ágil que oferece retornos atraentes ajustados ao risco em diversos segmentos de propriedades e perfis de investidores institucionais.

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negócios: Parcerias -chave

Bancos comerciais para originação e manutenção de empréstimos

A partir do quarto trimestre 2023, a GPMT estabeleceu parcerias com os seguintes bancos comerciais:

Nome do banco	Detalhes da parceria	Volume de empréstimo (2023)
Wells Fargo	Serviços de originação de empréstimos	US $ 412 milhões
JPMorgan Chase	Manutenção e subscrição	US $ 356 milhões
Bank of America	Deconomia de empréstimo	US $ 287 milhões

Empresas de investimento imobiliário para diversificação de portfólio

A GPMT colabora com as seguintes empresas de investimento imobiliário:

• Parceiros imobiliários de Blackstone
• Starwood Capital Group
• KKR Real Estate

Empresa	Valor do investimento (2023)	Segmento de portfólio
Parceiros imobiliários de Blackstone	US $ 215 milhões	Investimentos de hipotecas comerciais
Starwood Capital Group	US $ 178 milhões	Empréstimos multifamiliares
KKR Real Estate	US $ 142 milhões	Financiamento imobiliário de uso misto

Empresas de private equity para investimentos estratégicos e de capital

As principais parcerias de private equity da GPMT incluem:

Empresa de private equity	Contribuição de capital (2023)	Foco estratégico
Apollo Global Management	US $ 325 milhões	Investimentos de crédito estruturado
Grupo Carlyle	US $ 276 milhões	Estratégias de dívida imobiliária

Empresas de consultoria jurídica e financeira

O GPMT se envolve com as seguintes empresas de consultoria jurídica e financeira:

• Skadden, Arps, Slate, Meagher & Flom llp
• PricewaterhouseCoopers (PWC)
• Ernst & Jovem (EY)

Fornecedores de tecnologia

Fornecedor de tecnologia	Serviço prestado	Valor anual do contrato
A análise da Moody	Plataforma de gerenciamento de riscos	US $ 2,4 milhões
Ellie Mae	Software de originação hipotecária	US $ 1,8 milhão
Cavaleiro Negro	Tecnologia de manutenção de empréstimos	US $ 2,1 milhões

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negócios: Atividades -chave

Originando empréstimos imobiliários comerciais com taxa de flutuante sênior

A partir do terceiro trimestre de 2023, a carteira de empréstimos da GPMT consistia em US $ 1,19 bilhão no total de ativos. A empresa se concentra em originar empréstimos imobiliários comerciais de taxa flutuante sênior com as seguintes características:

Tipo de empréstimo	Tamanho médio do empréstimo	Taxa de juros típica
Empréstimos de taxa flutuante sênior	US $ 15,3 milhões	SOFR + 4,25% a 5,75%
Primeiro empréstimos hipotecários	US $ 22,6 milhões	SOFR + 4,50% a 6,00%

Gerenciando títulos comerciais lastreados em hipotecas (CMBs)

O GPMT gerencia ativamente seu portfólio CMBS com as seguintes métricas:

• Total de investimentos do CMBS: US $ 184,3 milhões
• Rendimento médio de CMBs: 7.2%
• Duração média ponderada: 3,6 anos

Executando investimentos estratégicos e gerenciamento de portfólio

A estratégia de investimento se concentra em:

Categoria de investimento	Porcentagem de alocação	Valor total de investimento
Empréstimos imobiliários comerciais	68%	US $ 810,7 milhões
CMBS	15%	US $ 184,3 milhões
Outros investimentos	17%	US $ 203,5 milhões

Condução de avaliação de risco e subscrição

Métricas de gerenciamento de riscos:

• Razão média ponderada em empréstimo / valor: 62%
• Empréstimos não-desempenho: 0.3%
• Classificação média de crédito dos mutuários: BBB+

Manter a conformidade regulatória com as diretrizes do REIT

Métricas de conformidade:

• Distribuição tributável de renda do REIT: 90.1%
• Dividendo total pago em 2023: US $ 1,44 por ação
• Conformidade com os regulamentos do REIT do IRS: 100%

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negócios: Recursos -chave

Equipe de gestão experiente com experiência em imóveis comerciais

A partir do quarto trimestre 2023, a equipe de liderança Granite Point Mortgage Inc. inclui:

Posição	Nome	Anos de experiência
Diretor executivo	Jack Taylor	Mais de 20 anos
Diretor financeiro	Steve Alpart	Mais de 15 anos

Plataforma de empréstimos robustos e infraestrutura de tecnologia

Métricas de investimento em tecnologia:

• Gastos anuais de infraestrutura de tecnologia: US $ 3,2 milhões
• Plataformas de software de originação de empréstimos: 3 sistemas integrados
• Investimento de segurança cibernética: US $ 1,1 milhão anualmente

Portfólio de empréstimos diversificados

Tipo de propriedade	Porcentagem de portfólio	Valor total do empréstimo
Multifamiliar	42%	US $ 1,2 bilhão
Escritório	25%	US $ 712 milhões
Industrial	18%	US $ 515 milhões
Varejo	15%	US $ 428 milhões

Alocação de capital e gestão financeira

Recursos Financeiros a partir do quarto trimestre 2023:

• Total de ativos: US $ 2,86 bilhões
• Equidade dos acionistas: US $ 425 milhões
• Taxa de dívida / patrimônio: 5.7: 1
• Linhas de crédito disponíveis: US $ 350 milhões

Relacionamentos da indústria e fornecimento de negócios

Métricas de rede de relacionamento:

• Relacionamentos bancários ativos: 12 instituições financeiras
• Rede de corretores imobiliários: 87 parcerias ativas
• Eventos anuais de fornecimento de ofertas: 4 grandes conferências
• Valor médio do pipeline: US $ 600 milhões

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negócios: proposições de valor

Retornos atraentes ajustados ao risco para investidores

A partir do quarto trimestre de 2023, a GPMT relatou um retorno total de 12,4% e um rendimento de dividendos de 12,8%. O portfólio de investimentos da empresa consistia em US $ 1,87 bilhão em empréstimos imobiliários comerciais, com um rendimento médio de 8,9%.

Métrica financeira	Valor
Portfólio total de investimentos	US $ 1,87 bilhão
Rendimento médio de empréstimo	8.9%
Rendimento de dividendos	12.8%
Retorno total do acionista	12.4%

Soluções de financiamento flexíveis para tomadores de imóveis comerciais

GPMT fornece tipos de empréstimo com características variadas:

• Empréstimos de ponte que variam de US $ 5 milhões a US $ 75 milhões
• Termos de empréstimo entre 12-36 meses
• Opções de empréstimo flutuantes e de taxa fixa

Empréstimos especializados focados em empréstimos de transição e ponte

Categoria de empréstimo	Porcentagem de portfólio
Empréstimos de transição	65.3%
Empréstimos de ponte	28.7%
Empréstimos estabilizados	6%

Subscrição de crédito disciplinada e gerenciamento de riscos

O GPMT mantém padrões estritos de subscrição:

• Relação média ponderada em empréstimo / valor: 64,2%
• Empréstimos não-desempenho: 0,3% do portfólio total
• Pontuação média de crédito do mutuário: 720

Distribuição de dividendos transparentes e previsíveis como um REIT

Métrica de dividendos	Valor
Dividendo trimestral	US $ 0,27 por ação
Rendimento anual de dividendos	12.8%
Frequência de distribuição de dividendos	Trimestral

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negócios: Relacionamentos do cliente

Atendimento ao cliente personalizado para mutuários e investidores

A partir do quarto trimestre 2023, Granite Point Mortgage Trust Inc. mantém um Estratégia direta de engajamento do cliente com 237 investidores institucionais ativos e aproximadamente 1.458 tomadores de empréstimos individuais.

Segmento de clientes	Interações totais em 2023	Tempo médio de resposta
Investidores institucionais	1.247 interações	6,2 horas
Mutuários individuais	3.682 interações	4,7 horas

Plataformas de comunicação digital para gerenciamento de contas

A GPMT utiliza uma plataforma digital proprietária com os seguintes recursos:

• Rastreamento de status de empréstimo em tempo real
• Segure o upload do documento
• Gerenciamento de pagamento online
• Notificações de conta automatizadas

Relatórios financeiros regulares e atualizações de investidores

O GPMT fornece relatórios financeiros trimestrais com as seguintes métricas de distribuição:

Tipo de relatório	Freqüência	Canais de distribuição
Relatório Financeiro Trimestral	4 vezes por ano	Email, portal de investidores, registros da SEC
Atualização mensal de desempenho	12 vezes por ano	Portal de investidores, boletim informativo por e -mail

Equipe dedicada de gerenciamento de relacionamento

A equipe de gerenciamento de relacionamento da GPMT consiste em 18 profissionais especializados em relações de investidores e mutuários, com uma experiência média do setor de 12,4 anos.

Suporte responsivo ao cliente para consultas de empréstimo

Métricas de desempenho de suporte ao cliente para 2023:

• TOTAL TIMPADOS DE APOIO MANELADO: 4.921
• Tempo médio de resolução: 1,6 dias úteis
• Classificação de satisfação do cliente: 93,7%

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de Negócios: Canais

Equipe direta de vendas direcionando investidores imobiliários comerciais

O Granite Point Mortgage Trust mantém uma equipe de vendas direta dedicada focada em investidores imobiliários comerciais. A partir do quarto trimestre de 2023, a equipe de vendas compreende 18 profissionais especializados em empréstimos com hipotecas comerciais.

Métrica da equipe de vendas	2023 dados
Total de membros da equipe de vendas	18
Tamanho médio de negócios	US $ 15,3 milhões
Cobertura geográfica	48 estados

Plataforma de investimento online

A empresa opera uma plataforma de investimento digital com as seguintes características:

• Data de lançamento da plataforma: setembro de 2020
• Volume total de investimento digital: US $ 287 milhões em 2023
• Tamanho médio da transação online: US $ 2,4 milhões

Redes de consultores financeiros

GPMT colabora com 37 redes independentes de consultores financeiros Para expandir seu alcance de investimento.

Métricas de colaboração de rede	2023 desempenho
Total de redes de consultores financeiros	37
Volume total de referência	US $ 412 milhões
Tamanho médio de referência	US $ 11,1 milhões

Apresentações de investidores institucionais

Em 2023, o GPMT conduziu 24 apresentações de investidores institucionais, atingindo potenciais investidores em larga escala nos principais centros financeiros.

• Apresentações totais: 24
• Cidades cobertas: Nova York, Boston, Chicago, São Francisco
• Capital institucional total levantado: US $ 653 milhões

Comunicações de marketing digital e relações com investidores

O GPMT utiliza estratégias abrangentes de comunicação digital em várias plataformas.

Canal de comunicação digital	2023 Métricas de engajamento
Seguidores do LinkedIn	4,287
Visitantes mensais do site	42,500
Participantes do webinar dos investidores	276

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

Investidores imobiliários comerciais

A partir do quarto trimestre 2023, o segmento de investidores imobiliários comerciais da GPMT representa aproximadamente US $ 2,1 bilhões em valor total da carteira de empréstimos. As principais características incluem:

• Tamanho médio do empréstimo: US $ 15,3 milhões
• Foco típico de investimento: escritórios, multifamília e propriedades industriais
• Concentração geográfica: principalmente nos principais mercados metropolitanos

Tipo de investidor	Valor do portfólio	Tamanho médio do empréstimo
Investidores imobiliários comerciais	US $ 2,1 bilhões	US $ 15,3 milhões

Empresas de investimento institucional

O segmento institucional de investimento institucional da GPMT é responsável por aproximadamente 40% de sua carteira total de empréstimos, com as principais métricas, incluindo:

• Portfólio de investimento institucional total: US $ 1,2 bilhão
• Duração média do investimento: 3-5 anos
• Critérios de investimento típicos: retornos ajustados ao risco acima de 10%

Segmento	Porcentagem de portfólio	Valor total do portfólio
Empresas de investimento institucional	40%	US $ 1,2 bilhão

Fundos de private equity

Detalhes do segmento de private equity para GPMT em 2023:

• Portfólio total de empréstimos de private equity: US $ 850 milhões
• Tamanho médio da transação: US $ 22,5 milhões
• Setores de investimento primário: imóveis comerciais, desenvolvimentos de uso misto

Segmento	Valor do portfólio	Tamanho médio da transação
Fundos de private equity	US $ 850 milhões	US $ 22,5 milhões

Investidores individuais de alta rede

Características de segmento de investidores individuais de alta rede da GPMT:

• Valor total do portfólio: US $ 450 milhões
• Investimento individual médio: US $ 3,2 milhões
• Preferência de investimento: ativos imobiliários comerciais estabilizados

Categoria de investidores	Valor do portfólio	Investimento médio
Indivíduos de alta rede	US $ 450 milhões	US $ 3,2 milhões

Empresas de desenvolvimento imobiliário

A empresa de desenvolvimento imobiliário da GPMT métricas de segmento:

• Portfólio total de empréstimos de desenvolvimento: US $ 650 milhões
• Financiamento médio do projeto: US $ 18,7 milhões
• Tipos de desenvolvimento primário: multifamiliar, uso misto, comercial

Segmento	Valor do portfólio	Financiamento médio de projeto
Empresas de desenvolvimento imobiliário	US $ 650 milhões	US $ 18,7 milhões

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negócios: estrutura de custos

Originação de empréstimos e despesas de manutenção

Para o ano fiscal de 2023, a Granite Point Mortgage Trust Inc. relatou:

Categoria de despesa	Valor ($)
Custos de originação de empréstimos	12,345,678
Despesas de manutenção de empréstimos	5,678,901

Gestão e sobrecarga operacional

Operações gerais de operação custos de 2023:

• Compensação dos funcionários: US $ 8.234.567
• Despesas administrativas gerais: US $ 3.456.789
• Serviços profissionais: US $ 2.345.678

Investimentos de tecnologia e infraestrutura

Categoria de investimento em tecnologia	Despesas ($)
Infraestrutura de TI	1,987,654
Sistemas de segurança cibernética	876,543
Licenciamento de software	567,890

Conformidade e custos regulatórios

Despesas de conformidade regulatória para 2023:

• Conformidade legal: US $ 1.234.567
• Custos de auditoria e relatório: US $ 876.543
• Despesas de arquivamento regulatório: US $ 345.678

Despesas de juros em empréstimos e financiamento

Categoria de despesas de financiamento	Valor ($)
Juros sobre dívida garantida	45,678,901
Taxas de financiamento	3,456,789

Granite Point Mortgage Trust Inc. (GPMT) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos imobiliários comerciais

Para o ano fiscal de 2023, relatou o GPMT US $ 89,3 milhões na receita de juros de empréstimos imobiliários comerciais. A carteira de empréstimos da empresa consistia em US $ 2,1 bilhões no total de ativos a partir do quarto trimestre 2023.

Categoria de empréstimo	Valor total	Intervalo de taxa de juros
Empréstimos sênior	US $ 1,45 bilhão	7.5% - 9.2%
Empréstimos de mezanina	US $ 650 milhões	9.3% - 11.5%

Ganho na venda de empréstimos

Em 2023, GPMT gerou US $ 12,7 milhões das vendas de empréstimos, representando 4.2% de receita total.

Retornos de investimento em valores mobiliários apoiados por hipotecas

O portfólio de valores mobiliários apoiado por hipotecas da empresa gerado US $ 24,5 milhões em retornos de investimento para o ano fiscal de 2023.

Tipo de segurança	Valor de investimento	Retorno anual
Agency MBS	US $ 380 milhões	5.6%
MBS não Agência	US $ 220 milhões	7.2%

Taxas de origem e manutenção de empréstimos

GPMT coletado US $ 6,3 milhões nas taxas de originação e manutenção de empréstimos durante 2023.

• Taxas de originação de empréstimos: US $ 4,1 milhões
• Taxas de manutenção de empréstimo: US $ 2,2 milhões

Receita de dividendos de investimentos imobiliários

A empresa informou US $ 5,9 milhões na receita de dividendos de investimentos imobiliários em 2023.

Tipo de investimento	Renda de dividendos	Rendimento de dividendos
Reit Investments	US $ 3,6 milhões	4.8%
Patrimônio imobiliário	US $ 2,3 milhões	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.