Investor Presentaiton
Condensed Consolidated Statements of
Comprehensive Income (Loss)
GRANITE POINT MORTGAGE TRUST INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(LOSS)
(in thousands, except share data)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2023
Interest income:
Loans held-for-investment
Cash and cash equivalents
Total interest income
Interest expense:
Repurchase facilities.
Secured credit facility
Securitized debt obligations
Convertible senior notes
Term financing facility
Asset-specific financings.
Total Interest Expense
(unaudited)
2022
(unaudited)
2023
(unaudited)
2022
(unaudited)
$
63,848 $
52,121
$
195,358 $
2,839
714
6,876
66,687
52,835
202,232
148,475
960
149,435
21,986
15,098
64,630
30,486
3,178
9,182
18,414
14,416
54,353
34,992
2,332
4,585
6,975
13,703
1,713
862
442
2,424
1,046
Senior secured term loan facilities
3,754
46,772
34,541
137,564
85,694
Net interest income
19,915
18,294
64,668
63,741
Other (loss) income:
Revenue from real estate owned operations
1,056
1,518
(Provision for) Benefit from credit losses
(31,008)
(35,442)
(83,236)
(52,757)
Gain (loss) on extinguishment of debt
Fee income
Total other (loss) income
Expenses:
Compensation and benefits
Servicing expenses
Expenses from real estate owned operations
Other operating expenses
Total expenses
Income (loss) before income taxes
Provision for (benefit from) income taxes
Net income (loss)
Dividends on preferred stock
Net income (loss) attributable to common stockholders
238
(18,823)
81
81
954
(29,871)
(35,442)
(81,399)
(70,626)
5,044
4,953
17,165
16,539
1,331
1,336
4,029
4,297
2,233
3,897
2,358
2,068
7,809
6,867
10,966
8,357
32,900
27,703
(20,922)
(25,505)
(49,631)
(34,588)
15
(1)
94
11
(20,937)
(25,504)
(49,725)
(34,599)
3,600
3,626
10,850
10,876
$
(24,537)
$
(29,130)
$
(60,575)
$
(45,475)
Basic earnings (loss) per weighted average common share
$
(0.48)
$
(0.56)
$
(1.17)
$
(0.85)
Diluted earnings (loss) per weighted average common share
$
(0.48)
$
(0.56)
$
(1.17)
$
(0.85)
Dividends declared per common share
$
0.20
$
0.25
$
0.60 $
0.75
Weighted average number of shares of common stock outstanding:
Basic
51,577,143
Diluted
51,577,143
Net income (loss) attributable to common stockholders
Comprehensive income (loss)
$
$
(24,537) $
(24,537) $
52,350,989
52,350,989
(29,130)
51,805,265
51,805,265
53,234,498
53,234,498
$
(60,575)
$
(29,130)
$
(60,575) $
(45,475)
(45,475)
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