Keefe Bruyette has lowered its price recommendation on Granite Point Mortgage Trust Inc. (GPMT) to $1.50 from $1.65, while keeping a Market Perform rating.

The adjustment was made on May 12, 2026, according to Detik Finance.

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Q1 2026 Financial Results

Granite Point Mortgage Trust is an internally managed real estate finance company.

It focuses on originating, investing in, and managing senior floating-rate commercial mortgage loans and other commercial real estate debt investments.

During the company’s Q1 2026 earnings call, Stephen Alpart, VP, Chief Investment Officer, and Co-Head of Originations, provided an update on the loan portfolio.

He said Granite Point ended the quarter with $1.6 billion in total loan portfolio commitments.

This total comprised $1.5 billion in outstanding principal balance and nearly $68 million in future funding obligations.

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Alpart noted that the weighted average risk rating of the portfolio climbed to 3.2 as of March 31, up from 2.9 at the end of December.

This signals increased portfolio pressure during the quarter.

In the same financial report, VP, CFO, and Treasurer Blake Johnson reported the company’s earnings.

He said Granite Point reported a GAAP net loss attributable to common stockholders of $6 million, or -$0.13 per basic common share, in the first quarter.

Johnson further explained that Granite Point also recorded a distributable loss of $3 million. This represents -$0.06 per basic common share for the three-month period.

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Market Reaction and Outlook

The lowered price recommendation reflects the challenges faced by Granite Point in the current economic environment.

The increase in risk rating and the net loss highlight the pressure on the company’s portfolio.

Keefe Bruyette’s decision to maintain a Market Perform rating suggests that the stock is expected to perform in line with the broader market.

Investors will be watching for any signs of improvement in the company’s financial health.

Granite Point Mortgage Trust continues to operate in the commercial real estate lending space.

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The company’s performance will depend on market conditions and its ability to manage risk effectively.