Granite Point Mortgage Trust Inc. Announces Second Quarter 2026 Common and Preferred Stock Dividends and Business Update

NEW YORK--(BUSINESS WIRE)--Granite Point Mortgage Trust Inc. (NYSE: GPMT) (“GPMT,” “Granite Point” or the “Company”) today announced that the Company’s Board of Directors declared a quarterly cash dividend of $0.05 per share of common stock for the second quarter of 2026. This dividend is payable on July 15, 2026, to holders of record of common stock at the close of business on July 1, 2026.

The Company’s Board of Directors also declared a quarterly cash dividend of $0.4375 per share of the 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for the second quarter of 2026. This dividend is payable on July 15, 2026, to the holders of record of the Series A Preferred Stock at the close of business on July 1, 2026.

Second Quarter Business Update

• During the quarter, the Company has funded approximately $6.8 million in unpaid principal balance on existing loans.
• In April, the Company resolved a $76.0 million loan secured by a Chicago, IL, retail property, which previously included an office component. The loan had been risk-rated “5” and was on nonaccrual status. As a result of this transaction and the prior resolution on the office component, the Company expects to realize a write-off of approximately $(30.2) million, which had been reserved for through a previously recorded allowance for credit losses.
• During the quarter, the Company sold two interests in debt secured by a Dallas, TX, office property.
• In April, the Company extended the maturity of the Citibank financing facility to April 2027.
• As of June 12, 2026, the Company carried approximately $58.3 million in unrestricted cash.

About Granite Point Mortgage Trust Inc.

Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt and debt-like commercial real estate investments. Granite Point is headquartered in New York, NY. Additional information is available at www.gpmtreit.com.

Forward-Looking Statements

This press release contains, or incorporates by reference, not only historical information, but also forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as “anticipate,” “estimate,” “will,” “should,” “expect,” “target,” “believe,” “outlook,” “potential,” “continue,” “intend,” “seek,” “plan,” “goals,” “future,” “likely,” “may” and similar expressions or their negative forms, or by references to strategy, plans or intentions. The illustrative examples herein are forward-looking statements. Our expectations, beliefs and estimates are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and estimates will prove to be correct or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements.

These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in our Annual Report on Form 10-K for the year ended December 31, 2025, under the caption “Risk Factors,” and our subsequent filings made with the SEC. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

Additional Information

Stockholders of Granite Point and other interested persons may find additional information regarding the Company at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Granite Point Mortgage Trust Inc., 1114 Avenue of the Americas, Suite 3020, New York, NY 10036, telephone [phone].