Granite Point Mortgage Trust Inc. Announces Third Quarter 2026 Common and Preferred Stock Dividends and Business Update and New Loan Resolution

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 $0.01 per share of common stock for the third quarter of 2026. This dividend is payable on October 15, 2026, to holders of record of common stock at the close of business on October 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 third quarter of 2026. This dividend is payable on October 15, 2026, to the holders of record of the Series A Preferred Stock at the close of business on October 1, 2026.

“In order to preserve capital and enhance financial flexibility for capital allocation decisions, this quarter the Board of Directors has elected to reduce the quarterly dividend to $0.01 per share,” said Jack Taylor, Chief Executive Officer, President and Director of Granite Point. “In addition, we resolved a risk-rated 5 loan at our carrying value and realized two office loan repayments at par.”

Third Quarter Business Update

• In September, the Company resolved a $52.4 million loan secured by a Stockbridge, GA, multifamily property. The loan had been risk-rated “5” and was on nonaccrual status. As a result of this transaction, the Company expects to realize a write-off of approximately $(19.9) million, which had been reserved for through a previously recorded allowance for credit losses.
• During the quarter, the Company realized two full loan repayments of about $(19.5) million secured by office properties located in Ohio and California and has funded approximately $7.1 million in unpaid principal balance on existing loans.
• In July, the Company refinanced the assets in its two legacy CLOs, GPMT 2021-FL3 and GPMT 2021-FL4, by extending and upsizing the JPMorgan financing facility. As of June 30, the two CLOs had a total outstanding balance of $521 million with a weighted average cost of S+2.38%, and the refinance resulted in lowering the weighted average cost by 38 basis points to S+2.00%. The JPMorgan financing facility has a total outstanding balance of approximately $651 million, a weighted average cost of S+2.17%, and a 2-year term with three 1-year term extension options.
• As of September 14, 2026, the Company carried approximately $32.4 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].