The amendments are routine and do not signal a change in business fundamentals. Monitor GPMT's next quarterly filing for any deviation from the $450M tangible net worth covenant, which could indicate asset impairments or increased leverage.
Price Chart
Executive Summary
Granite Point Mortgage Trust amended its repurchase facilities with Morgan Stanley and Citibank, extending the Morgan Stanley facility termination date to June 28, 2027, and modifying financial covenants including a minimum Unrestricted Cash of $20M and minimum Tangible Net Worth of $450M. The amendments represent routine refinancing of existing credit lines with no new borrowing or material financial impact disclosed.
Key Financial Metrics
Key Facts
- Morgan Stanley repurchase facility termination date extended to June 28, 2027.
- Unrestricted Cash covenant set at minimum $20,000,000 under both Morgan Stanley and Citibank facilities.
- Minimum Tangible Net Worth covenant set at $450,000,000 under both facilities.
- No new borrowings, financial results, or changes to facility size were disclosed.
- Both amendments were executed between June 26 and June 30, 2026.
Financial Impact
No new financial obligations or capital raised; covenant thresholds reaffirmed at existing levels.
Risk Factors
- If the company's tangible net worth declines below $450M, it could trigger a default under the repurchase facilities.
- Unrestricted cash falling below $20M could restrict operating flexibility.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001703644-26-000023 |
| Exhibit: exhibit102-citimra6302026.htm | 0001703644-26-000023 |
| Document: gpmt-20260626.htm | 0001703644-26-000023 |
| Document: 0001703644-26-000023-index-headers.html | 0001703644-26-000023 |
| Document: 0001703644-26-000023-index.html | 0001703644-26-000023 |
| Document: 0001703644-26-000023.txt | 0001703644-26-000023 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 8-K | $7.37 | awaiting T+20 | — | $4.86 (−34.06%) |
Oct 5, 2026 21d ago | 8-K | $7.60 | awaiting T+20 | — | $4.86 (−36.06%) |
Aug 3, 2026 12w ago | 8-K | $1.46 $1.01 | ▼ −30.82% | ▼ −29.58% | $4.86 (+232.85%) |
Jun 30, 2026 16w ago | 8-K | $1.47 $1.33 | ▼ −9.52% | ▼ −7.34% | $4.86 (+230.59%) |
Jun 9, 2026 19w ago | Insider Cluster | $1.44 $1.35 | ▼ −6.25% | ▼ −9.87% | $4.86 (+237.47%) |
Jun 8, 2026 20w ago | 144 | $19.46 $18.37 | ▼ −5.60% | ▼ −7.01% | $4.86 (−75.03%) |
Jun 8, 2026 20w ago | 144 | $19.46 $18.37 | ▼ −5.60% | ▼ −7.01% | $4.86 (−75.03%) |
May 5, 2026 24w ago | 8-K | $1.49 $1.52 | ▲ +2.01% | ▼ −0.77% | $4.86 (+226.15%) |
Apr 20, 2026 27w ago | DEFA14A | $19.98 $19.83 | ▼ −0.75% | ▼ −5.67% | $4.86 (−75.68%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers