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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Loans held-for-investment $ 1,937,659 $ 2,097,375
Allowance for credit losses (177,282) (199,727)
Loans held-for-investment, net 1,760,377 1,897,648
Cash and cash equivalents 85,744 87,788
Restricted cash 14,684 26,682
Real estate owned, net 114,520 42,815
Accrued interest receivable 7,452 8,668
Other assets 47,468 51,514
Total Assets [1] 2,030,245 2,115,115
Liabilities    
Repurchase facilities 534,543 597,874
Securitized debt obligations 773,290 788,313
Secured credit facility 86,774 86,774
Dividends payable 6,208 6,238
Other liabilities 24,636 16,699
Total Liabilities [1] 1,425,451 1,495,898
Commitments and Contingencies (see Note 9)
Stockholders’ Equity    
7.00% Series A Fixed-to-Floating Rate 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 48,389,097 shares and 48,801,690 issued and outstanding, respectively 484 488
Additional paid-in capital 1,194,610 1,195,823
Cumulative earnings (146,571) (139,556)
Cumulative distributions to stockholders (443,936) (437,745)
Total Granite Point Mortgage Trust Inc. Stockholders’ Equity 604,669 619,092
Non-controlling interests 125 125
Total Equity 604,794 619,217
Total Liabilities and Stockholders’ Equity $ 2,030,245 $ 2,115,115
[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 March 31, 2025, and December 31, 2024, assets of the VIEs totaled $936,204 and $951,295, respectively, and liabilities of the VIEs totaled $774,802 and $790,339, respectively. See Note 5 - Variable Interest Entities and Securitized Debt Obligations, for further detail.

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