Granite Point Mortgage Trust Inc. Earnings Per Share Disclosure
| Year Ended | ||||||||||||||||||||
| December 31, | ||||||||||||||||||||
| (in thousands, except share data) | 2024 | 2023 | 2022 | |||||||||||||||||
| Numerator: | ||||||||||||||||||||
Net (loss) income attributable to common stockholders | $ | (221,452) | $ | (77,649) | $ | (55,327) | ||||||||||||||
| Dividends allocated to participating restricted stock units | (967) | (1,661) | — | |||||||||||||||||
Net (loss) income attributable to common stockholders - basic | $ | (222,419) | $ | (79,310) | $ | (55,327) | ||||||||||||||
Net (loss) income attributable to common stockholders - diluted | $ | (222,419) | $ | (79,310) | $ | (55,327) | ||||||||||||||
| Denominator: | ||||||||||||||||||||
| Weighted average common shares outstanding | 50,423,243 | 51,641,619 | 52,904,606 | |||||||||||||||||
| Weighted average restricted stock shares | — | — | 107,200 | |||||||||||||||||
Basic weighted average shares outstanding | 50,423,243 | 51,641,619 | 53,011,806 | |||||||||||||||||
| Diluted weighted average shares outstanding | 50,423,243 | 51,641,619 | 53,011,806 | |||||||||||||||||
(Loss) earnings per share: | ||||||||||||||||||||
Basic | $ | (4.39) | $ | (1.50) | $ | (1.04) | ||||||||||||||
Diluted | $ | (4.39) | $ | (1.50) | $ | (1.04) | ||||||||||||||
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.