The strong EPS beat could drive short-term upside, but the ongoing portfolio runoff and high credit risk mitigate bullishness. Monitor upcoming loan resolutions and any new origination activity for signs of a turnaround.
Price Chart
Executive Summary
GPMT reported Q1 2026 Distributable EPS of -$0.06, beating the -$0.21 consensus by 71%, though GAAP net loss improved to -$6.0M from -$10.6M a year ago. The company continues to resolve legacy loans and reduce leverage, but the portfolio shrunk by $175M in UPB and book value fell to $7.05 from $7.29.
Key Financial Metrics
Key Facts
- GAAP net loss of $6.0M vs $10.6M in Q1 2025, loss per share -$0.13 vs -$0.22
- Distributable EPS (street metric) -$0.06 vs consensus -$0.21 (71% beat)
- Net interest income flat at $8.0M, total loan portfolio commitments down to $1.6B
- CECL reserve at 9.4% of commitments, post-quarter resolution reduced to ~7.9%
- Total leverage ratio unchanged at 1.7x, repurchase facility cost down 61 bps to S+2.47%
- Book value per share declined from $7.29 to $7.05
Financial Impact
Distributable EPS beat by $0.15 vs consensus, but the company remains loss-making with a shrinking balance sheet
Risk Factors
- Further credit losses on the $189M of risk-rated 5 loans
- Inability to redeploy capital from repayments into profitable originations
- Further book value erosion and dividend sustainability risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001703644-26-000019 |
| Document: q12026earningssupplement.htm | 0001703644-26-000019 |
| Document: gpmt-20260505.htm | 0001703644-26-000019 |
| Document: 0001703644-26-000019-index-headers.html | 0001703644-26-000019 |
| Document: 0001703644-26-000019-index.html | 0001703644-26-000019 |
| Document: 0001703644-26-000019.txt | 0001703644-26-000019 |
| 8-K Data (Synthetic) | 0001703644-26-000019 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 21d ago | 8-K | $7.37 | awaiting T+20 | — | $4.90 (−33.51%) |
Oct 5, 2026 22d ago | 8-K | $7.60 | awaiting T+20 | — | $4.90 (−35.53%) |
Aug 3, 2026 12w ago | 8-K | $1.46 $1.01 | ▼ −30.82% | ▼ −29.58% | $4.90 (+235.62%) |
Jun 30, 2026 17w ago | 8-K | $1.47 $1.33 | ▼ −9.52% | ▼ −7.34% | $4.90 (+233.33%) |
Jun 9, 2026 20w ago | Insider Cluster | $1.44 $1.35 | ▼ −6.25% | ▼ −9.87% | $4.90 (+240.28%) |
Jun 8, 2026 20w ago | 144 | $19.46 $18.37 | ▼ −5.60% | ▼ −7.01% | $4.90 (−74.82%) |
Jun 8, 2026 20w ago | 144 | $19.46 $18.37 | ▼ −5.60% | ▼ −7.01% | $4.90 (−74.82%) |
May 5, 2026 25w ago | 8-K | $1.49 $1.52 | ▲ +2.01% | ▼ −0.77% | $4.90 (+228.86%) |
Apr 20, 2026 27w ago | DEFA14A | $19.98 $19.83 | ▼ −0.75% | ▼ −5.67% | $4.90 (−75.48%) |
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