GPMT — what changed in the latest 10-Q
A section-by-section comparison of GPMT's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-05 vs the prior 10-Q · 2025-11-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +63 | −56 | ~66 | 52 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~11 | 16 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | −1 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-05
•Ended the quarter with a portfolio of 40 loan investments with an aggregate unpaid principal balance of $1.5 billion and total commitments of $1.6 billion, a weighted average stabilized LTV at origination of 66.0%, and a weighted average all-in yield at origination of S+3.96%.
•Repurchased 172,313 shares of common stock at a weighted average purchase price of $1.74 for an aggregate purchase amount of $0.3 million.
•Repaid $91.6 million of borrowings under the JP Morgan repurchase facility, resulting in a 0.61% reduction of the weighted average cost of funds of repurchase agreements.
•At March 31, 2026, carried unrestricted cash of $43.6 million, a portion of which is subject to certain liquidity covenants.
As a commercial real estate finance company, we believe the key financial measures and indicators for our business are earnings per share presented on a GAAP basis, dividends declared on common stock, Distributable Earnings and book value per share of common stock. For the three months ended March 3…
Text removed vs the prior filing · source: 10-Q · 2025-11-05
•Received a $3.4 million partial paydown on a loan secured by office and retail property located in Chicago, IL, with a $79.7 million unpaid principal balance. The net sale proceeds were applied to the outstanding principal balance, which is now secured by the retail portion of the property.
•Resolved a senior loan secured by a student housing property located in Louisville, KY, with a $50.0 million unpaid principal balance via property sale.
•Ended the quarter with a portfolio of 44 loan investments with an aggregate unpaid principal balance of $1.7 billion and total commitments of $1.8 billion, a weighted average stabilized LTV at origination of 65.0%, and a weighted average all-in yield at origination of S+3.92%.
•Extended the secured credit facility to December 21, 2026, and reduced the financing spread by 75 basis points and borrowings by $7.5 million.
•At September 30, 2025, carried unrestricted cash of $62.7 million, a portion of which is subject to certain liquidity covenants.
Other information
Text removed vs the prior filing · source: 10-Q · 2025-11-05
•Tanuja M. Dehne, one of the Company’s independent directors, adopted a Rule 10b5-1 trading arrangement on August 18, 2025, that provides for the sale of 25% of the shares to be issued to her when her currently outstanding RSUs vest on June 5, 2026. Ms. Dehne intends to use the proceeds of this sale…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice