Granite Point Mortgage reports Q3 EPS (75c), consensus (82c)

“Our third quarter results are highlighted by multiple nonaccrual loan resolutions, produced by our active portfolio management strategy, and accretive share buybacks,” said Jack Taylor, President and Chief Executive Officer of Granite Point. “This forward momentum has continued with over $280 million of nonaccrual loans that already have been or are expected to be resolved in the coming months. We will continue to reposition the business so as to return to our core lending strategy next year and benefit from the attractive investment opportunities that are beginning to emerge with the improving market conditions.”