v3.23.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Loans held-for-investment $ 3,310,830 $ 3,350,150
Allowance for credit losses (128,451) (82,335)
Loans held-for-investment, net 3,182,379 3,267,815
Cash and cash equivalents 223,432 133,132
Restricted cash 3,344 7,033
Accrued interest receivable 13,869 13,413
Other assets 52,317 32,708
Total Assets [1] 3,475,341 3,454,101
Liabilities    
Repurchase facilities 1,191,571 1,015,566
Securitized debt obligations 1,039,407 1,138,749
Asset-specific financings 45,823 44,913
Secured credit facility 100,000 100,000
Convertible senior notes 131,131 130,918
Dividends payable 14,307 14,318
Other liabilities 20,644 24,967
Total Liabilities [1] 2,542,883 2,469,431
Commitments and Contingencies
10.00% cumulative redeemable preferred stock, par value $0.01 per share; 50,000,000 shares authorized, and 1,000 shares issued and outstanding ($1,000,000 liquidation preference) 1,000 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 51,526,039 and 52,350,989 shares issued and outstanding, respectively 515 524
Additional paid-in capital 1,198,272 1,202,315
Cumulative earnings 96,864 130,693
Cumulative distributions to stockholders (364,400) (350,069)
Total Granite Point Mortgage Trust Inc. Stockholders’ Equity 931,333 983,545
Non-controlling interests 125 125
Total Equity 931,458 983,670
Total Liabilities and Stockholders’ Equity $ 3,475,341 $ 3,454,101
[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, 2023, and December 31, 2022, assets of the VIEs totaled $1,280,560 and $1,551,936, respectively, and liabilities of the VIEs totaled $1,041,473 and $1,141,028, respectively. See Note 4 - Variable Interest Entities and Securitized Debt Obligations for additional information.

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