-
Posted by
Two Blokes Jun 19 -
Filed in
Stock
-
4 views
Granite Point Mortgage Trust's common shares have dipped significantly over the past 1-year, reflecting ongoing challenges with its CRE loan portfolio. The mREIT reported a first-quarter book value of $8.24 per share, dipping by 23 cents sequentially with the commons trading at a 71% discount to book value per share. GPMT's unpaid principal balance continues to decline on muted originations. But CECL reserve as a percentage of loan commitments has been falling, down 40 basis points sequentially.
