Granite Point Mortgage Trust Inc.Announces Second Quarter 2021 Common Share Dividend and Business Update


NEW YORK, June 15, 2021– (BUSINESS WIRE) –Granite Point Mortgage Trust Inc. (NYSE: GPMT) (“GPMT”, “Granite Point” or the “Company”) announced today that the Board of Directors of the Company has declared a quarterly cash dividend of $ 0.25 per common share for the second quarter of 2021. This dividend will be payable on July 19, 2021 to common shareholders of record on July 1, 2021.

Commercial update until June 15, 2021

  • Closing of six senior variable rate commercial real estate loans with total commitments of over $ 150 million and seed financings of over $ 115 million. Funding of an additional $ 25 million for past loan commitments.

  • Generated a senior variable rate loan term pipeline with total commitments of approximately $ 200 million and initial financings of approximately $ 185 million, which are expected to close within the next two months, subject to spin off.

  • Made over $ 415 million in loan repayments, including two hotel loans totaling approximately $ 135 million in principal.

  • Repurchase of approximately 0.3 million common shares at a weighted average price of $ 14.16 per share. 1.7 million shares remain authorized for repurchase under the current share repurchase program.

About Granite Point Mortgage Trust Inc.
Granite Point Mortgage Trust Inc. is a Maryland-based company focused on the direct granting, investment and management of senior adjustable rate commercial mortgages and other commercial real estate investments such as debt and the like. Granite Point is headquartered in New York, NY. Additional information is available at www.gpmtreit.com.

Further information
Granite Point shareholders and other interested persons may find additional information relating to the Company on the website of the Securities and Exchange Commission at www.sec.gov or by directing their inquiries to: Granite Point Mortgage Trust Inc ., 3 Bryant Park, 24e Floor, New York, NY 10036, telephone (212) 364-5500.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20210615006145/en/

Contacts

Investors: Marcin Urbaszek, CFO, Granite Point Mortgage Trust Inc., (212) 364-5500, [email protected]


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