Granite Point Mortgage Trust (NYSE:GPMT) reported a GAAP net loss of $6 million or $0.13 per share for the first quarter of 2026, with a decline in book value to $7.05. The company is actively working on resolving legacy loans, including the recently concluded Chicago Retail loan, and aims to reduce higher-cost debt. Management is optimistic about the commercial real estate market, which is expected to improve through 2026, and plans to restart origination activities later in the year. Additionally, the company is exploring capital-light joint ventures to enhance earnings. The total loan portfolio commitments stand at $1.6 billion, with significant repayments and sales contributing to a strategic shift towards regrowth. The overall financial outlook remains cautious due to geopolitical uncertainties affecting capital markets, but Granite Point is focused on optimizing its balance sheet and positioning for future growth.