Trade Alert by Scott Kennedy 06/20/2025

Trade alert by Scott Kennedy:

Hi subscribers, quick trade alert. Today, as telegraphed in a recent GPMT chat note, I "nibbled on"/increased my position in GPMT at a weighted average purchase price of $2.26 per share ("piecemeal" fills via trade triggers). GPMT had a quick, notable rise in stock price over the past couple of months only to give up a good chunk of that movement recently. As such, adding to my very minor GPMT position (in proportion to my REIT Forum portfolio size) is a strategy I accept. As noted in the recent chat note, I am pleased non-accruals continue to be resolved with acceptable results (decent recoveries in the current environment). I was also pleased 1 real estate owned asset (out of 3) was sold near current carrying values/fair market value. I cannot stress this enough, GPMT continues to carry a risk/performance rating of 5.5. This should only be considered by very high risk tolerant subscribers. A potential GPMT "turnaround" strategy will take years to play out. I accept this risk and time horizon. However, the current price has the potential for notably upside over time. I am merely disclosing my trade with this disclosure. I hope this helps with subscribers' assessments/strategies.