Granite Point Mortgage Trust amends repurchase agreement with JPMorgan

Granite Point Mortgage Trust Inc. (NYSE:GPMT) announced that on Tuesday its wholly owned subsidiary, GP Commercial JPM LLC, entered into an amendment to its Master Repurchase and Securities Contract Agreement with JPMorgan Chase Bank, National Association. According to a statement based on a recent SEC filing, the amendment extends the “Additional Advance Termination Date” under the agreement to April 12, 2026, subject to certain terms and conditions.

The original Master Repurchase and Securities Contract Agreement between the parties was dated December 3, 2015, and has been amended periodically. The latest amendment, referred to as the MRA Amendment, continues the business relationship between Granite Point’s subsidiary and JPMorgan by allowing for an extended period during which additional advances can be made.

In connection with the MRA Amendment, Granite Point Mortgage Trust also entered into an amendment to its Amended and Restated Guarantee Agreement with JPMorgan. This Guaranty Amendment clarifies certain processes related to the repayment of all “Additional Advances” outstanding under the Master Repurchase Agreement.

The company stated that the descriptions of the amendments are qualified in their entirety by the full text of the documents, which have been filed as exhibits with the SEC.

Granite Point Mortgage Trust Inc . is a real estate investment trust based in New York. Its common stock trades on the New York Stock Exchange under the ticker NYSE:GPMT, and its 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock trades as NYSE:GPMTPrA. The stock, currently trading at $2.58, has shown significant momentum with a 58% surge over the past six months. InvestingPro analysis suggests the stock is slightly undervalued, while offering an attractive dividend yield of 7.58%. For deeper insights into GPMT’s valuation and performance metrics, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.

This information is based on a statement contained in a recent SEC filing.

In other recent news, Granite Point Mortgage Trust Inc. announced its Q2 2025 earnings, which featured a notable earnings per share (EPS) surprise. The company reported an EPS of -$0.3036, outperforming the forecasted -$0.8502 by 64.29%. Despite the positive EPS result, Granite Point Mortgage’s revenue did not meet expectations, coming in at $8.05 million compared to the anticipated $8.73 million, a shortfall of 7.79%. These recent developments highlight the mixed financial performance of the company. The earnings report reflects the challenges in meeting revenue forecasts, even as the EPS showed unexpected strength. Investors reacted positively to the earnings surprise, although the revenue miss may temper enthusiasm. The company’s financial results continue to be a focal point for analysts and investors alike.

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