U.S. Markets close in 1 hr 41 mins

Granite Point Mortgage Trust Inc. Announces Second Quarter 2019 Common Stock Dividend and Business Update

NEW YORK--(BUSINESS WIRE)--

Granite Point Mortgage Trust Inc. (GPMT) today declared a quarterly dividend of $0.42 per share of common stock for the second quarter of 2019. This dividend is payable on July 19, 2019 to common stockholders of record at the close of business on July 5, 2019.

Business Update

  • Expects to originate senior commercial real estate loans with total commitments of over $450 million and total fundings of over $390 million in the second quarter of 2019, subject to customary closing conditions and fallout; as of today, closed senior loans with total commitments of over $120 million and funded over $145 million of loan balances, including over $45 million of prior loan commitments.
  • Anticipates receiving over $150 million of loan repayments and principal amortization in the second quarter of 2019, subject to customary closing conditions.
  • Issued over 2.6 million shares of common stock at a weighted average price of $19.11 per share through the company’s at-the-market equity issuance program during the second quarter of 2019.

About Granite Point Mortgage Trust Inc.
Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments. Granite Point is headquartered in New York, NY, and is externally managed by Pine River Capital Management L.P. Additional information is available at www.gpmortgagetrust.com.

Additional Information
Stockholders of Granite Point and other interested persons may find additional information regarding the company at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Granite Point Mortgage Trust Inc., 3 Bryant Park, 24th floor, New York, NY 10036, telephone (212) 364-3200

View source version on businesswire.com: https://www.businesswire.com/news/home/20190620005670/en/