Refinanced two legacy CLOs with JPMorgan, cutting weighted average cost by 38 basis points to S+2.00% from S+2.38%.
Quarterly results
Granite Point Mortgage Trust posted a GAAP net loss attributable to common stockholders of USD 62 million, or USD 1.29 a share.
Distributable loss (non-GAAP) was USD 37.72 million, or USD 0.79 a share; distributable loss before realized gains and losses was USD 4.92 million, or USD 0.1 a share.
Book value per common share was USD 5.7, inclusive of USD 3.44 per share of total CECL reserve; total CECL reserve was USD 165.8 million.
Unrestricted cash totaled USD 58.48 million at quarter-end; total leverage ratio was 1.9x.
GPMT•
