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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Loans held-for-investment $ 2,908,855 $ 3,350,150
Allowance for credit losses (145,297) (82,335)
Loans held-for-investment, net 2,763,558 3,267,815
Loans held-for-sale, net 14,980 0
Cash and cash equivalents 257,592 133,132
Restricted cash 25,955 7,033
Real estate owned, net 17,527 0
Accrued interest receivable 12,964 13,413
Other assets 38,045 32,708
Total Assets [1] 3,130,621 3,454,101
Liabilities    
Repurchase facilities 921,348 1,015,566
Securitized debt obligations 999,536 1,138,749
Asset-specific financings 45,823 44,913
Secured credit facility 100,000 100,000
Convertible senior notes 131,600 130,918
Dividends payable 14,336 14,318
Other liabilities 27,233 24,967
Total Liabilities [1] 2,239,876 2,469,431
Commitments and Contingencies (see Note 10)
10.00% cumulative redeemable preferred stock, par value $0.01 per share; 50,000,000 shares authorized 0 1,000
Stockholders’ Equity    
7.00% Series A cumulative redeemable preferred stock, par value $0.01 per share; 11,500,000 shares authorized, and 8,229,500 and 8,229,500 shares issued and outstanding, respectively; liquidation preference $25.00 per share 82 82
Common stock, par value $0.01 per share; 450,000,000 shares authorized, and 51,577,841 and 52,350,989 shares issued and outstanding, respectively 516 524
Additional paid-in capital 1,202,151 1,202,315
Cumulative earnings 80,968 130,693
Cumulative distributions to stockholders (393,097) (350,069)
Total Granite Point Mortgage Trust Inc. Stockholders’ Equity 890,620 983,545
Non-controlling interests 125 125
Total Equity 890,745 983,670
Total Liabilities and Stockholders’ Equity $ 3,130,621 $ 3,454,101
Common shares issued (in shares) 51,577,841 52,350,989
Common shares outstanding (in shares) 51,577,841 52,350,989
[1] The condensed consolidated balance sheets include assets of consolidated variable interest entities, or VIEs, that can only be used to settle obligations of these VIEs, and liabilities of the consolidated VIEs for which creditors do not have recourse to Granite Point Mortgage Trust Inc. At September 30, 2023, and December 31, 2022, assets of the VIEs totaled $1,240,229 and $1,551,936, respectively, and liabilities of the VIEs totaled $1,001,731 and $1,141,028, respectively. See Note 5 - Variable Interest Entities and Securitized Debt Obligations, for further detail.

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