Granite Point Mortgage Trust Reports Q4 Earnings

Executives highlight repayment activity, debt cost reductions, and plans to rebuild portfolio in 2026

Published on Feb. 14, 2026

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Granite Point Mortgage Trust (NYSE:GPMT) reported its Q4 2025 earnings, with executives noting improved liquidity in commercial real estate markets that drove meaningful repayment and resolution activity during the year. The company continued to work through higher-risk loans and two REO properties, leading to a sizable credit-loss provision and REO impairment that weighed on book value. Looking ahead, management highlighted post-quarter-end loan payoffs and debt cost reductions as key early 2026 developments, while emphasizing plans to begin regrowing the portfolio in the latter half of the year.

Why it matters

Granite Point's Q4 results and outlook provide insights into the state of the commercial real estate lending market, with the company's focus on resolutions and repayments reflecting broader industry trends. The company's plans to rebuild its portfolio in 2026 could signal growing confidence in the CRE market, though the timing will depend on factors like repayment pace and market conditions.

The details

Granite Point reported a GAAP net loss of $27.4 million, or $0.58 per share, for Q4 2025, which included a $14.4 million provision for credit losses and a $6.8 million impairment loss on a Miami Beach REO asset. The company ended the year with $1.8 billion in total loan portfolio commitments, including $1.7 billion in outstanding principal balance. Granite Point had $45 million in repayments and partial paydowns during Q4, and received two full loan repayments totaling $174 million post-quarter-end. The company also reduced the cost of its repurchase facilities by roughly 60 basis points, generating an estimated annual savings of $0.10 per share.

  • Granite Point reported Q4 2025 earnings on February 14, 2026.
  • The company received two full loan repayments totaling $174 million post-quarter-end.

The players

Granite Point Mortgage Trust

A specialty finance company that invests directly in commercial real estate debt, focusing on originating, acquiring and managing senior preferred and mezzanine loans secured by income-producing real estate.

Jack Taylor

President and CEO of Granite Point Mortgage Trust.

Steve Alpart

Chief Investment Officer of Granite Point Mortgage Trust.

Blake Johnson

Chief Financial Officer of Granite Point Mortgage Trust.

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What they’re saying

“2025 was a constructive year for commercial real estate, citing heightened deal activity and spread compression after a brief spring pause tied to macro uncertainty.”

— Jack Taylor, President and CEO (themarketsdaily.com)

“Early 2026 momentum has continued and could support higher transaction activity and asset resolution progress.”

— Jack Taylor, President and CEO (themarketsdaily.com)

What’s next

Granite Point expects to begin regrowing its portfolio in the latter half of 2026, with the timing dependent on factors like repayments, resolution pace, market conditions, and other factors.

The takeaway

Granite Point's Q4 results and outlook highlight the company's focus on resolving higher-risk loans and REO properties, while also positioning itself to rebuild its portfolio as commercial real estate markets continue to improve. The reduction in debt costs and plans for future growth signal Granite Point's confidence in the CRE market's recovery.