Granite Point Mortgage Trust Inc. Announces Second Quarter 2025 Common and Preferred Stock Dividends and Business Update
The Company's Board of Directors also declared a quarterly cash dividend of $0.4375 per share of the 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for the second quarter of 2025. This dividend is payable on July 15, 2025, to the holders of record of the Series A Preferred Stock at the close of business on July 1, 2025.
'We have maintained strong momentum repositioning our portfolio with the completion of two more loan resolutions in the second quarter and the anticipated near-term sale of an REO office property,' said Jack Taylor, President and Chief Executive Officer of Granite Point. 'We continue to believe that our stock presents a compelling total return opportunity for investors. As such, and consistent with our goal of supporting long-term shareholder value, we repurchased 1.25 million of our common shares during the quarter, generating book value accretion.'
Second Quarter Business Update
In May, resolved a loan secured by a mixed-use office and retail property located in Baton Rouge, LA.
As of March 31, 2025, the loan was on nonaccrual status with an unpaid principal balance of $79.9 million and risk rating of '5'. As previously announced, as a result of the property sale, the Company expects to realize a write-off of approximately $(20.8) million, which had been reserved for through a previously recorded allowance for credit losses.
In May, resolved a loan secured by a hotel property located in Minneapolis, MN.
As of March 31, 2025, the loan was on nonaccrual status with an unpaid principal balance of $52.2 million and risk rating of '5'. The loan was bifurcated into a senior and subordinate note structure and, as previously announced, the Company expects to realize a write-off of approximately $(15.4) million, which had been reserved for through a previously recorded allowance for credit losses.
Anticipate selling an REO office property located in Phoenix, AZ, in the near-term near the GAAP carrying value.
In April, extended the maturities of all repurchase facilities by approximately one year.
During the quarter, repurchased 1.25 million shares of its common stock at an average price of $2.48 per share, for a total of approximately $3.1 million.
During the quarter, the Company has funded approximately $10.7 million in unpaid principal balance on existing loans and has realized about $32.4 million in full and partial principal repayments, excluding the nonaccrual loan resolutions referenced above.
As of June 16, the Company carried approximately $70.0 million in unrestricted cash.
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. Additional information is available at www.gpmtreit.com.
Forward-Looking Statements
This press release contains, or incorporates by reference, not only historical information, but also forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as 'anticipate,' 'estimate,' 'will,' 'should,' 'expect,' 'target,' 'believe,' 'outlook,' 'potential,' 'continue,' 'intend,' 'seek,' 'plan,' 'goals,' 'future,' 'likely,' 'may' and similar expressions or their negative forms, or by references to strategy, plans or intentions. The illustrative examples herein are forward-looking statements. Our expectations, beliefs and estimates are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and estimates will prove to be correct or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements.
These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in our Annual Report on Form 10-K for the year ended December 31, 2024, under the caption 'Risk Factors,' and our subsequent filings made with the SEC. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
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, 24 th floor, New York, NY 10036, telephone (212) 364-5500.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
McKesson's (NYSE:MCK) Q2 Sales Top Estimates
Healthcare distributor and services company McKesson (NYSE:MCK) announced better-than-expected revenue in Q2 CY2025, with sales up 23.4% year on year to $97.83 billion. Its non-GAAP profit of $8.26 per share was 1.4% above analysts' consensus estimates. Is now the time to buy McKesson? Find out in our full research report. McKesson (MCK) Q2 CY2025 Highlights: Revenue: $97.83 billion vs analyst estimates of $96.48 billion (23.4% year-on-year growth, 1.4% beat) Adjusted EPS: $8.26 vs analyst estimates of $8.15 (1.4% beat) Management slightly raised its full-year Adjusted EPS guidance to $37.50 at the midpoint Operating Margin: 1.1%, in line with the same quarter last year Free Cash Flow was -$1.11 billion compared to -$1.55 billion in the same quarter last year Market Capitalization: $88.76 billion Company Overview With roots dating back to 1833, making it one of America's oldest continuously operating businesses, McKesson (NYSE:MCK) is a healthcare services company that distributes pharmaceuticals, medical supplies, and provides technology solutions to pharmacies, hospitals, and healthcare providers. Revenue Growth A company's long-term sales performance is one signal of its overall quality. Even a bad business can shine for one or two quarters, but a top-tier one grows for years. Over the last five years, McKesson grew its sales at a decent 10.3% compounded annual growth rate. Its growth was slightly above the average healthcare company and shows its offerings resonate with customers. We at StockStory place the most emphasis on long-term growth, but within healthcare, a half-decade historical view may miss recent innovations or disruptive industry trends. McKesson's annualized revenue growth of 15.3% over the last two years is above its five-year trend, suggesting its demand recently accelerated. We can better understand the company's revenue dynamics by analyzing its most important segment, U.S. Pharmaceutical . Over the last two years, McKesson's U.S. Pharmaceutical revenue averaged 17.6% year-on-year growth. This quarter, McKesson reported robust year-on-year revenue growth of 23.4%, and its $97.83 billion of revenue topped Wall Street estimates by 1.4%. Looking ahead, sell-side analysts expect revenue to grow 10% over the next 12 months, a deceleration versus the last two years. We still think its growth trajectory is attractive given its scale and implies the market is forecasting success for its products and services. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) stock benefiting from the rise of AI. Click here to access our free report one of our favorites growth stories. Operating Margin McKesson was roughly breakeven when averaging the last five years of quarterly operating profits, lousy for a healthcare business. On the plus side, McKesson's operating margin rose by 3.3 percentage points over the last five years, as its sales growth gave it operating leverage. In Q2, McKesson generated an operating margin profit margin of 1.1%, in line with the same quarter last year. This indicates the company's overall cost structure has been relatively stable. Earnings Per Share We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. McKesson's EPS grew at an astounding 18.3% compounded annual growth rate over the last five years, higher than its 10.3% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded. Diving into the nuances of McKesson's earnings can give us a better understanding of its performance. As we mentioned earlier, McKesson's operating margin was flat this quarter but expanded by 3.3 percentage points over the last five years. On top of that, its share count shrank by 23.1%. These are positive signs for shareholders because improving profitability and share buybacks turbocharge EPS growth relative to revenue growth. In Q2, McKesson reported adjusted EPS at $8.26, up from $7.88 in the same quarter last year. This print beat analysts' estimates by 1.4%. Over the next 12 months, Wall Street expects McKesson's full-year EPS of $33.48 to grow 15.5%. Key Takeaways from McKesson's Q2 Results It was good to see McKesson narrowly top analysts' revenue and EPS expectations this quarter. The market seemed to be hoping for more, and the stock traded down 1.8% to $692 immediately following the results. So do we think McKesson is an attractive buy at the current price? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
25 minutes ago
- Yahoo
Arista May Outpace Peers With 25% Growth
Arista Networks (NYSE:ANET) opened up 14% Wednesday after smashing Q2 expectations on booming cloud and data center spending. They delivered a 65.6% gross margin, beating guidance of 63% and the Street's 62.9%, while operating margin hit 48.8% versus a 46% forecast. Free cash flow came in at $1.18 billion, well above the $852 million consensus and even BofA's $1.02 billion model. Management now sees 25% revenue growth in 2025, up from 17%, as hyperscalers pour capex into both back-end and front-end cloud networks. Warning! GuruFocus has detected 6 Warning Sign with ANET. Analysts couldn't wait to react: BofA bumped its price target to $155, KeyBanc raised theirs to $145, and J.P. Morgan lifted theirs to $150, all keeping bullish calls. J.P. Morgan's team says Arista could hit $10 billion in revenue by 2026two years ahead of planand that AI network rollouts will keep momentum going into 2027. If Arista can sustain these margins and ride the cloud capex wave, it may leave legacy peers in the will be tuning in to the next earnings report for proof that the cloud boom isn't over. This article first appeared on GuruFocus.
Business Wire
26 minutes ago
- Business Wire
Ralliant Announces Quarterly Dividend
RALEIGH, N.C.--(BUSINESS WIRE)--Ralliant Corporation ('Ralliant' or the 'Company') (NYSE: RAL) announced today that its Board of Directors ('the Board') has approved a quarterly cash dividend of $0.05 per share of its common stock, payable on September 23, 2025 to stockholders of record as of the close of business on September 8, 2025. Tami Newcombe, President and Chief Executive Officer, stated, 'We are making progress against our capital allocation priorities to focus on organic reinvestment, capital return to shareholders, and selective execution of tuck-in acquisitions aligned with our growth vectors. This announcement of our inaugural quarterly dividend, along with our prior announcement of the Board's authorization of up to $200 million of share repurchases demonstrate our commitment to return capital to shareholders.' About Ralliant Ralliant is a global provider of precision technologies that specializes in designing, developing, manufacturing and servicing precision instruments and highly engineered products. Ralliant's two strategic reporting segments — Test & Measurement and Sensors & Safety Systems — include well-known brands with leading positions in their markets. The Company's businesses empower engineers with precision technologies essential for breakthrough innovation that brings advanced technologies to the market faster and more efficiently. With over 150 years of operating experience and enduring customer trust, we are known for delivering innovative, high-quality products with the precision that mission-critical systems demand. Ralliant is headquartered in Raleigh, North Carolina and employs a team of approximately 7,000 research and development, manufacturing, sales, distribution, service and administrative employees. The Company's global footprint enables a unique 'engineer to engineer' approach, which allows it to build enduring trust, credibility, and partnerships with customers across both Fortune 1000 companies and next generation start-up enterprises. With a culture rooted in continuous improvement, the core of our company's operating model is the Ralliant Business System. For more information please visit: Forward-Looking Statements Certain statements included in this press release are 'forward-looking statements' within the meaning of the U.S. federal securities laws. All statements other than historical factual information are forward-looking statements, including, without limitation, statements regarding: business outlook and priorities; future financial performance and results, including outlook and guidance; revenue growth; cash flows, our liquidity position or other financial measures; management's plans and strategies for future operations and growth, including statements relating to anticipated operating performance, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions, divestitures, strategic opportunities, shareholder value creation, capital allocation priorities, stock repurchases and dividends; the effects of the separation from Fortive on our business; growth, declines and other trends in markets we sell into, including the expected impact of trade and tariff policies; changes in government contracting requirements and reductions in federal spending; new or modified laws, regulations and accounting pronouncements; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; foreign currency exchange rates and fluctuations in those rates; tax rates, tax provisions, and the impact of changes to tax laws; general economic and capital markets conditions, including expected impact of inflation or interest rate changes; impact of geopolitical events and other hostilities; the timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that we intend or believe will or may occur in the future. Terminology such as 'believe', 'expect', 'anticipate', 'forecast', 'positioned', 'intend', 'plan', 'project', 'estimate', 'grow', 'will', 'should', 'could', 'would', 'may', 'strategy', 'opportunity', 'possible', 'potential', 'outlook', 'target', and 'guidance' and similar references to future periods are intended to identify forward-looking statements, although not all forward-looking statements are accompanied by such words. Forward-looking statements are based on assumptions and assessments made by our management in light of their experience and perceptions of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. These forward-looking statements are subject to a number of risks and uncertainties, including but not limited to the risks and uncertainties set forth under 'Cautionary Statement Concerning Forward-Looking Statements', 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in the Company's Information Statement filed as an exhibit to the Company's Form 10-12B/A with the U.S. Securities and Exchange Commission (the 'SEC') on May 28, 2025, and in other documents that we have filed with, or furnished to, the SEC. Forward-looking statements are not guarantees of future performance and actual results may differ materially from the results, developments and business decisions contemplated by our forward-looking statements. Accordingly, you should not place undue reliance on any such forward-looking statements. Forward-looking statements speak only as of the date they are made (or such earlier date as may be specified in such statement). Except to the extent required by applicable law, Ralliant assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, and developments or otherwise.
