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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Loans held-for-investment $ 3,350,150 $ 3,782,205
Allowance for credit losses (82,335) (40,897)
Loans held-for-investment, net 3,267,815 3,741,308
Cash and cash equivalents 133,132 191,931
Restricted cash 7,033 12,362
Accrued interest receivable 13,413 10,716
Other assets 32,708 32,201
Total Assets [1] 3,454,101 3,988,518
Liabilities    
Repurchase facilities 1,015,566 677,285
Securitized debt obligations 1,138,749 1,677,619
Asset-specific financings 44,913 43,622
Secured credit facility 100,000 0
Term financing facility 0 127,145
Convertible senior notes 130,918 272,942
Senior secured term loan facilities 0 139,880
Dividends payable 14,318 14,406
Other liabilities 24,967 21,436
Total Liabilities [1] 2,469,431 2,974,335
Commitments and Contingencies
10.00% cumulative redeemable preferred stock, par value $0.01 per share; 50,000,000 shares authorized, and 1,000 shares issued and outstanding ($1,000,000 liquidation preference) 1,000 1,000
Stockholders’ Equity    
7.00% Series A cumulative redeemable preferred stock, par value $0.01 per share; 11,500,000 shares authorized, and 8,229,500 and 4,596,500 shares issued and outstanding, respectively; liquidation preference $25.00 per share 82 46
Common stock, par value $0.01 per share; 450,000,000 shares authorized, and 52,350,989 and 53,789,465 shares issued and outstanding, respectively 524 538
Additional paid-in capital 1,202,315 1,125,241
Cumulative earnings 130,693 171,518
Cumulative distributions to stockholders (350,069) (284,285)
Total Granite Point Mortgage Trust Inc. Stockholders’ Equity 983,545 1,013,058
Non-controlling interests 125 125
Total Equity 983,670 1,013,183
Total Liabilities and Stockholders’ Equity $ 3,454,101 $ 3,988,518
[1] The consolidated balance sheets include assets of consolidated variable interest entities, or VIEs, that can only be used to settle obligations of these VIEs, and liabilities of the consolidated VIEs for which creditors do not have recourse to Granite Point Mortgage Trust Inc. At December 31, 2022, and December 31, 2021, assets of the VIEs totaled $1,551,936 and $2,266,044, respectively, and liabilities of the VIEs totaled $1,141,028 and $1,679,435, respectively. See Note 4 - Variable Interest Entities and Securitized Debt Obligations for additional information.