$GPMT
Granite Point Mortgage Trust Inc.

2019 Q1 Form 10-Q Financial Statement

#000170364419000048 Filed on May 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $58.15M $39.98M
YoY Change 45.45% 67.84%
Cost Of Revenue $35.70M $21.58M
YoY Change 65.43% 177.73%
Gross Profit $23.36M $19.28M
YoY Change 21.16% 20.12%
Gross Profit Margin 40.18% 48.23%
Selling, General & Admin $6.390M $4.690M
YoY Change 36.25% 80.38%
% of Gross Profit 27.35% 24.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.00K $1.000K
YoY Change 3800.0%
% of Gross Profit 0.17% 0.01%
Operating Expenses $6.390M $4.690M
YoY Change 36.25% 81.08%
Operating Profit $16.97M $14.59M
YoY Change 16.31% 8.4%
Interest Expense $32.01M $18.37M
YoY Change 74.21% 200.9%
% of Operating Profit 188.62% 125.93%
Other Income/Expense, Net $913.0K $882.0K
YoY Change 3.51%
Pretax Income $16.97M $14.59M
YoY Change 16.32% 8.41%
Income Tax -$1.000K $1.000K
% Of Pretax Income -0.01% 0.01%
Net Earnings $16.97M $14.59M
YoY Change 16.34% 8.41%
Net Earnings / Revenue 29.18% 36.49%
Basic Earnings Per Share $0.35 $0.34
Diluted Earnings Per Share $0.34 $0.33
COMMON SHARES
Basic Shares Outstanding 48.60M shares 43.37M shares
Diluted Shares Outstanding 62.26M shares 50.47M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.40M $72.10M
YoY Change -9.29% 108.38%
Cash & Equivalents $65.38M $72.07M
Short-Term Investments
Other Short-Term Assets $800.0K $200.0K
YoY Change 300.0%
Inventory
Prepaid Expenses
Receivables $10.60M $7.600M
Other Receivables $0.00 $0.00
Total Short-Term Assets $76.80M $79.90M
YoY Change -3.88% 66.46%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.332B $2.415B
YoY Change 37.97% 54.66%
Other Assets $57.40M $12.50M
YoY Change 359.2% 155.1%
Total Long-Term Assets $3.411B $2.441B
YoY Change 39.73% 55.83%
TOTAL ASSETS
Total Short-Term Assets $76.80M $79.90M
Total Long-Term Assets $3.411B $2.441B
Total Assets $3.487B $2.521B
YoY Change 38.35% 56.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $23.20M $11.50M
YoY Change 101.74% 721.43%
Deferred Revenue
YoY Change
Short-Term Debt $432.9M $33.70M
YoY Change 1184.57% -96.38%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $478.0M $61.80M
YoY Change 673.46% -93.55%
LONG-TERM LIABILITIES
Long-Term Debt $2.027B $1.631B
YoY Change 24.32% 657.32%
Other Long-Term Liabilities $200.0K $100.0K
YoY Change 100.0%
Total Long-Term Liabilities $2.027B $1.631B
YoY Change 24.32% 657.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $478.0M $61.80M
Total Long-Term Liabilities $2.027B $1.631B
Total Liabilities $2.505B $1.692B
YoY Change 48.03% 44.3%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $522.0K $434.0K
YoY Change 20.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $981.1M $827.4M
YoY Change
Total Liabilities & Shareholders Equity $3.487B $2.521B
YoY Change 38.35% 56.15%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $16.97M $14.59M
YoY Change 16.34% 8.41%
Depreciation, Depletion And Amortization $39.00K $1.000K
YoY Change 3800.0%
Cash From Operating Activities $18.54M $13.13M
YoY Change 41.24% -7.64%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$120.4M -$52.88M
YoY Change 127.63% -60.49%
Cash From Investing Activities -$120.4M -$52.88M
YoY Change 127.63% -60.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $130.2M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $98.84M $6.102M
YoY Change 1519.81% -93.91%
NET CHANGE
Cash From Operating Activities $18.54M $13.13M
Cash From Investing Activities -$120.4M -$52.88M
Cash From Financing Activities $98.84M $6.102M
Net Change In Cash -$2.988M -$33.65M
YoY Change -91.12% 73.44%
FREE CASH FLOW
Cash From Operating Activities $18.54M $13.13M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2018Q1 us-gaap Depreciation
Depreciation
1000 USD
CY2018Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
2161000 USD
CY2019Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-313000 USD
CY2018Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-140000 USD
CY2019Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2917000 USD
CY2018Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-580000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
16953000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
13129000 USD
CY2019Q1 us-gaap Payments To Acquire Loans And Leases Held For Investment
PaymentsToAcquireLoansAndLeasesHeldForInvestment
276574000 USD
CY2018Q1 us-gaap Payments To Acquire Loans And Leases Held For Investment
PaymentsToAcquireLoansAndLeasesHeldForInvestment
154101000 USD
CY2019Q1 us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
155320000 USD
CY2018Q1 us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
96427000 USD
CY2019Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
881000 USD
CY2018Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
4793000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-120373000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-52881000 USD
CY2019Q1 gpmt Proceedsfrom Assets Soldunder Agreementsto Repurchase
ProceedsfromAssetsSoldunderAgreementstoRepurchase
225261000 USD
CY2018Q1 gpmt Proceedsfrom Assets Soldunder Agreementsto Repurchase
ProceedsfromAssetsSoldunderAgreementstoRepurchase
140731000 USD
CY2019Q1 gpmt Principal Paymentson Assets Soldunder Agreementsto Repurchase
PrincipalPaymentsonAssetsSoldunderAgreementstoRepurchase
732170000 USD
CY2018Q1 gpmt Principal Paymentson Assets Soldunder Agreementsto Repurchase
PrincipalPaymentsonAssetsSoldunderAgreementstoRepurchase
137883000 USD
CY2019Q1 us-gaap Proceeds From Securitizations Of Loans Held For Investment
ProceedsFromSecuritizationsOfLoansHeldForInvestment
646868000 USD
CY2018Q1 us-gaap Proceeds From Securitizations Of Loans Held For Investment
ProceedsFromSecuritizationsOfLoansHeldForInvestment
0 USD
CY2019Q1 us-gaap Repayments Of Accounts Receivable Securitization
RepaymentsOfAccountsReceivableSecuritization
105000000 USD
CY2018Q1 us-gaap Repayments Of Accounts Receivable Securitization
RepaymentsOfAccountsReceivableSecuritization
0 USD
CY2019Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
CY2018Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
18247000 USD
CY2019Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
48697000 USD
CY2018Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
CY2019Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
123697000 USD
CY2018Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2019Q1 gpmt Increase Decreasein Unamortized Debt Issuance Expense
IncreaseDecreaseinUnamortizedDebtIssuanceExpense
-1591000 USD
CY2018Q1 gpmt Increase Decreasein Unamortized Debt Issuance Expense
IncreaseDecreaseinUnamortizedDebtIssuanceExpense
-1404000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
157228000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2019Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
25000 USD
CY2018Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
25000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
18321000 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
16372000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
100432000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6102000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2988000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-33650000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
123423000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110718000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
120435000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
77068000 USD
CY2019Q1 us-gaap Interest Paid
InterestPaid
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CY2018Q1 us-gaap Interest Paid
InterestPaid
16212000 USD
CY2019Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2018Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1000 USD
CY2019Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
21938000 USD
CY2018Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
16588000 USD
CY2019Q1 us-gaap Nature Of Operations
NatureOfOperations
Organization and Operations<div style="line-height:120%;padding-top:4px;text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granite Point Mortgage Trust Inc., or the Company, is a Maryland corporation that focuses primarily on directly originating, investing in and managing senior floating-rate commercial mortgage loans and other debt and debt-like commercial real estate investments. The Company is externally managed by Pine River Capital Management L.P., or the Manager. The Company’s common stock is listed on the New York Stock Exchange, or NYSE, under the symbol “GPMT”.</span></div><div style="line-height:120%;padding-top:4px;text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company was incorporated on April 7, 2017 and commenced operations as a publicly traded company on June 28, 2017, upon completion of an initial public offering, or the IPO. Concurrently with the closing of the IPO, the Company completed a formation transaction, or the Formation Transaction, pursuant to which the Company acquired the equity interests in TH Commercial Holdings LLC, or the Predecessor, from Two Harbors Investment Corp., or Two Harbors, a publicly traded hybrid mortgage real estate investment trust (NYSE: TWO). In exchange, the Company issued </span><span style="font-family:inherit;font-size:10pt;"><span>33,071,000</span></span><span style="font-family:inherit;font-size:10pt;"> shares of its common stock, representing approximately </span><span style="font-family:inherit;font-size:10pt;"><span>76.5%</span></span><span style="font-family:inherit;font-size:10pt;"> of its outstanding common stock after the IPO, and </span><span style="font-family:inherit;font-size:10pt;"><span>1,000</span></span><span style="font-family:inherit;font-size:10pt;"> shares of its </span><span style="font-family:inherit;font-size:10pt;"><span>10%</span></span><span style="font-family:inherit;font-size:10pt;"> cumulative redeemable preferred stock to Two Harbors. Upon the completion of the Formation Transaction, the Predecessor became the Company’s wholly owned indirect subsidiary. On November 1, 2017, Two Harbors distributed to its common stockholders the </span><span style="font-family:inherit;font-size:10pt;"><span>33,071,000</span></span><span style="font-family:inherit;font-size:10pt;"> shares of the Company’s common stock it had acquired in connection with the Formation Transaction, allowing the Company’s market capitalization to be fully floating. </span></div>The Company has elected to be treated as a real estate investment trust, or REIT, as defined under the Internal Revenue Code of 1986, as amended, or the Code, for U.S. federal income tax purposes. As long as the Company continues to comply with a number of requirements under federal tax law and maintains its qualification as a REIT, the Company generally will not be subject to U.S. federal income taxes to the extent that the Company distributes its taxable income to its stockholders on an annual basis and does not engage in prohibited transactions. However, certain activities that the Company may perform may cause it to earn income which will not be qualifying income for REIT purposes. The Company has designated one of its subsidiaries as a taxable REIT subsidiary, or TRS, as defined in the Code, to engage in such activities.
CY2017Q2 us-gaap Minority Interest Ownership Percentage By Parent
MinorityInterestOwnershipPercentageByParent
0.765
CY2019Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.10
CY2017Q4 gpmt Two Harbors Investment Corp Distributionof Special Dividend Shares
TwoHarborsInvestmentCorpDistributionofSpecialDividendShares
33071000 shares
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
Use of Estimates<span style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make a number of significant estimates. These include estimates of fair value of certain assets and liabilities, amount and timing of allowances for loan losses and impairments and other estimates that affect the reported amounts of certain assets and liabilities as of the date of the </span><span style="font-family:inherit;font-size:10pt;">condensed consolidated</span><span style="font-family:inherit;font-size:10pt;"> financial statements and the reported amounts of certain revenues and expenses during the reported period. It is likely that changes in these estimates (</span><span style="font-family:inherit;font-size:10pt;font-style:italic;">e.g.</span>, valuation changes to the underlying collateral of loans due to changes in capitalization rates, leasing, credit worthiness of major tenants, occupancy rates, availability of financing, exit plan, loan sponsorship, actions of other lenders, overall economic conditions, the broader commercial real estate market, local geographic sub-markets or other factors) will occur in the near term. The Company’s estimates are inherently subjective in nature and actual results could differ from its estimates and the differences may be material.
CY2018Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
3167913000 USD
CY2018Q4 gpmt Loans Heldfor Investment Percentageof Total
LoansHeldforInvestmentPercentageofTotal
1.000
CY2019Q1 us-gaap Variable Interest Entity Nonconsolidated Carrying Amount Assets
VariableInterestEntityNonconsolidatedCarryingAmountAssets
38600000 USD
CY2018Q4 us-gaap Variable Interest Entity Nonconsolidated Carrying Amount Assets
VariableInterestEntityNonconsolidatedCarryingAmountAssets
39300000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
3318016000 USD
CY2019Q1 gpmt Unamortized Discountsor Premiums Loans Heldfor Investment
UnamortizedDiscountsorPremiumsLoansHeldforInvestment
-138000 USD
CY2019Q1 gpmt Unamortized Net Deferred Origination Fees Loans Heldfor Investment
UnamortizedNetDeferredOriginationFeesLoansHeldforInvestment
-24889000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
3292989000 USD
CY2019Q1 gpmt Unfunded Commitments Loans Heldfor Investment
UnfundedCommitmentsLoansHeldforInvestment
624244000 USD
CY2019Q1 gpmt Numberof Loans Heldfor Investment
NumberofLoansHeldforInvestment
98 loan
CY2019Q1 gpmt Weighted Average Coupon Rate Loans Heldfor Investment
WeightedAverageCouponRateLoansHeldforInvestment
0.064
CY2019Q1 gpmt Weighted Average Yearsto Maturity Loans Heldfor Investment
WeightedAverageYearstoMaturityLoansHeldforInvestment
P1Y10M24D
CY2018Q4 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
3193641000 USD
CY2018Q4 gpmt Unamortized Discountsor Premiums Loans Heldfor Investment
UnamortizedDiscountsorPremiumsLoansHeldforInvestment
-151000 USD
CY2018Q4 gpmt Unamortized Net Deferred Origination Fees Loans Heldfor Investment
UnamortizedNetDeferredOriginationFeesLoansHeldforInvestment
-25577000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
3167913000 USD
CY2018Q4 gpmt Unfunded Commitments Loans Heldfor Investment
UnfundedCommitmentsLoansHeldforInvestment
626155000 USD
CY2018Q4 gpmt Numberof Loans Heldfor Investment
NumberofLoansHeldforInvestment
92 loan
CY2018Q4 gpmt Weighted Average Coupon Rate Loans Heldfor Investment
WeightedAverageCouponRateLoansHeldforInvestment
0.065
CY2018 gpmt Weighted Average Yearsto Maturity Loans Heldfor Investment
WeightedAverageYearstoMaturityLoansHeldforInvestment
P2Y
CY2019Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
3292989000 USD
CY2019Q1 gpmt Loans Heldfor Investment Percentageof Total
LoansHeldforInvestmentPercentageofTotal
1.000
CY2019Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
3292989000 USD
CY2019Q1 gpmt Loans Heldfor Investment Percentageof Total
LoansHeldforInvestmentPercentageofTotal
1.000
CY2018Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
3167913000 USD
CY2018Q4 gpmt Loans Heldfor Investment Percentageof Total
LoansHeldforInvestmentPercentageofTotal
1.000
CY2019Q1 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
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CY2018Q4 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
2900000000 USD
CY2018Q4 us-gaap Mortgage Loans On Real Estate
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CY2017Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
2304266000 USD
CY2019Q1 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
279694000 USD
CY2018Q1 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
156186000 USD
CY2019Q1 srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
155320000 USD
CY2018Q1 srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
96427000 USD
CY2019Q1 gpmt Loans Heldfor Investment Accretion Amortizationof Discountsand Premiums
LoansHeldforInvestmentAccretionAmortizationofDiscountsandPremiums
13000 USD
CY2018Q1 gpmt Loans Heldfor Investment Accretion Amortizationof Discountsand Premiums
LoansHeldforInvestmentAccretionAmortizationofDiscountsandPremiums
14000 USD
CY2019Q1 us-gaap Increase Decrease In Loans Deferred Income
IncreaseDecreaseInLoansDeferredIncome
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CY2018Q1 us-gaap Increase Decrease In Loans Deferred Income
IncreaseDecreaseInLoansDeferredIncome
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CY2019Q1 us-gaap Amortization Of Deferred Loan Origination Fees Net
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3809000 USD
CY2018Q1 us-gaap Amortization Of Deferred Loan Origination Fees Net
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2693000 USD
CY2019Q1 us-gaap Provision For Loan And Lease Losses
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0 USD
CY2018Q1 us-gaap Provision For Loan And Lease Losses
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0 USD
CY2019Q1 us-gaap Mortgage Loans On Real Estate
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3292989000 USD
CY2018Q1 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
2364647000 USD
CY2019Q1 gpmt Debt Securities Availableforsale Unrealized Gains
DebtSecuritiesAvailableforsaleUnrealizedGains
0 USD
CY2018Q4 gpmt Debt Securities Availableforsale Face Value
DebtSecuritiesAvailableforsaleFaceValue
12798000 USD
CY2019Q1 gpmt Numberof Loans Heldfor Investment
NumberofLoansHeldforInvestment
98 loan
CY2019Q1 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
3318016000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
3292989000 USD
CY2018Q4 gpmt Numberof Loans Heldfor Investment
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92 loan
CY2018Q4 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
3193641000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
3167913000 USD
CY2019Q1 gpmt Debt Securities Availableforsale Face Value
DebtSecuritiesAvailableforsaleFaceValue
12798000 USD
CY2018Q4 gpmt Debt Securities Availableforsale Unrealized Gains
DebtSecuritiesAvailableforsaleUnrealizedGains
0 USD
CY2019Q1 gpmt Debt Securities Availableforsale Unrealized Losses
DebtSecuritiesAvailableforsaleUnrealizedLosses
0 USD
CY2018Q4 gpmt Debt Securities Availableforsale Unrealized Losses
DebtSecuritiesAvailableforsaleUnrealizedLosses
192000 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
12798000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
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12606000 USD
CY2019Q1 us-gaap Pledged Financial Instruments Not Separately Reported Other Debt Securities Available For Sale Or Held For Investment
PledgedFinancialInstrumentsNotSeparatelyReportedOtherDebtSecuritiesAvailableForSaleOrHeldForInvestment
12800000 USD
CY2018Q4 us-gaap Pledged Financial Instruments Not Separately Reported Other Debt Securities Available For Sale Or Held For Investment
PledgedFinancialInstrumentsNotSeparatelyReportedOtherDebtSecuritiesAvailableForSaleOrHeldForInvestment
12600000 USD
CY2019Q1 gpmt Heldto Maturity Securities Face Value
HeldtoMaturitySecuritiesFaceValue
25815000 USD
CY2018Q4 gpmt Heldto Maturity Securities Face Value
HeldtoMaturitySecuritiesFaceValue
26696000 USD
CY2019Q1 gpmt Heldto Maturity Securities Unamortized Premium Discount
HeldtoMaturitySecuritiesUnamortizedPremiumDiscount
0 USD
CY2018Q4 gpmt Heldto Maturity Securities Unamortized Premium Discount
HeldtoMaturitySecuritiesUnamortizedPremiumDiscount
0 USD
CY2019Q1 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
25815000 USD
CY2018Q4 us-gaap Held To Maturity Securities
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26696000 USD
CY2019Q1 us-gaap Pledged Financial Instruments Not Separately Reported Other Debt Securities Held To Maturity
PledgedFinancialInstrumentsNotSeparatelyReportedOtherDebtSecuritiesHeldToMaturity
25800000 USD
CY2018Q4 us-gaap Pledged Financial Instruments Not Separately Reported Other Debt Securities Held To Maturity
PledgedFinancialInstrumentsNotSeparatelyReportedOtherDebtSecuritiesHeldToMaturity
26700000 USD
CY2019Q1 us-gaap Cash Collateral For Borrowed Securities
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8000000.0 USD
CY2018Q4 us-gaap Cash Collateral For Borrowed Securities
CashCollateralForBorrowedSecurities
5600000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65384000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
91700000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
55051000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
31723000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
120435000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
123423000 USD
CY2018Q4 gpmt Securitized Debt Obligations Fair Value Disclosure
SecuritizedDebtObligationsFairValueDisclosure
654330000 USD
CY2019Q1 gpmt Revolving Credit Facilities
RevolvingCreditFacilities
0 USD
CY2019Q1 gpmt Revolving Credit Facilities
RevolvingCreditFacilities
0 USD
CY2019Q1 us-gaap Interest Receivable
InterestReceivable
10595000 USD
CY2018Q4 us-gaap Interest Receivable
InterestReceivable
10268000 USD
CY2019Q1 us-gaap Long Term Debt Fair Value
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600000000 USD
CY2019Q1 us-gaap Loans And Leases Receivable Net Reported Amount
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3292989000 USD
CY2019Q1 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
3326644000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
3167913000 USD
CY2018Q4 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
3200980000 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Securities
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12798000 USD
CY2019Q1 us-gaap Available For Sale Securities Debt Securities
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12798000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
12606000 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
12606000 USD
CY2019Q1 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
25815000 USD
CY2019Q1 us-gaap Mortgage Backed Securities Held To Maturity Fair Value Disclosure
MortgageBackedSecuritiesHeldToMaturityFairValueDisclosure
25995000 USD
CY2018Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
26696000 USD
CY2018Q4 us-gaap Mortgage Backed Securities Held To Maturity Fair Value Disclosure
MortgageBackedSecuritiesHeldToMaturityFairValueDisclosure
26611000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65384000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65384000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
91700000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
91700000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
55051000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
55051000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
31723000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
31723000 USD
CY2019Q1 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
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993634000 USD
CY2019Q1 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
993634000 USD
CY2018Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
1500543000 USD
CY2018Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
1500543000 USD
CY2019Q1 us-gaap Beneficial Interest
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1197814000 USD
CY2019Q1 gpmt Securitized Debt Obligations Fair Value Disclosure
SecuritizedDebtObligationsFairValueDisclosure
1206683000 USD
CY2018Q4 us-gaap Beneficial Interest
BeneficialInterest
654263000 USD
CY2018Q4 gpmt Revolving Credit Facilities
RevolvingCreditFacilities
75000000 USD
CY2018Q4 gpmt Revolving Credit Facilities
RevolvingCreditFacilities
75000000 USD
CY2019Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
268484000 USD
CY2019Q1 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
277025000 USD
CY2018Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
268138000 USD
CY2018Q4 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
270731000 USD
CY2019Q1 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
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1000000000.0 USD
CY2018Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
1500000000 USD
CY2019Q1 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
0.0470
CY2018Q4 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
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1000
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CY2017Q4 gpmt Two Harbors Investment Corp Distributionof Special Dividend Shares
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CY2019Q1 gpmt Stock Issued And Outstanding Shares At Market Offering
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CY2019Q1 gpmt Stock Issued And Outstanding Value At Market Offering
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CY2019Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
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CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
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CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
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CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
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CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
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CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
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CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
512358 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
18.78
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
351956 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
18.25
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1100000 USD
CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
700000 USD
CY2019Q1 gpmt Percentof Reit Taxable Incometo Distribute
PercentofREITTaxableIncometoDistribute
1
CY2019Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2018Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-1000 USD
CY2019Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 USD
CY2018Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2000 USD
CY2019Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 USD
CY2018Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1000 USD
CY2019Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1000 USD
CY2018Q1 us-gaap Deferred Income Tax Expense Benefit
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0 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
16944000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
14561000 USD
CY2019Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
4449000 USD
CY2018Q1 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
2171000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
21393000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
16732000 USD
CY2019Q1 gpmt Weighted Average Numberof Shares Outstanding
WeightedAverageNumberofSharesOutstanding
48145555 shares
CY2018Q1 gpmt Weighted Average Numberof Shares Outstanding
WeightedAverageNumberofSharesOutstanding
43085103 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
455876 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
289125 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
13655164 shares
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
7093750 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62256595 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50467978 shares
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
CY2019Q1 gpmt Management Fee Percentof Equity
ManagementFeePercentofEquity
0.015
CY2019Q1 us-gaap Management Fee Expense
ManagementFeeExpense
3400000 USD
CY2018Q1 us-gaap Management Fee Expense
ManagementFeeExpense
3200000 USD
CY2019Q1 us-gaap Incentive Fee Expense
IncentiveFeeExpense
200000 USD
CY2019Q1 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
6600000 USD
CY2018Q1 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
3700000 USD
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1100000 USD
CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
700000 USD

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