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Adamas Trust, Inc. logo

Adamas Trust, Inc.

ADAM

NASDAQReal EstateREIT - Mortgage

Open in GoAI

Previous close

$9.94

+$0.01 · +0.10%

Aug 21, 4:00 PM ET

ADAM company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

94

Deep Value

Momentum

56

Neutral

Sentiment

63

Bullish

Risk resilience

70

Moderate Risk

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Thesis, catalysts, evidence, and risk analysis.

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AI-generated, informational only, and not investment advice.

Company profile

Company website

Adamas Trust, Inc. is a U.S.-based entity primarily focused on the acquisition, investment, financing, and management of assets connected to single-family and multi-family residential mortgages. Its diverse portfolio includes targeted residential loans (which cover business purpose loans), agency and non-agency residential mortgage-backed securities (RMBS), structured multi-family property investments like preferred equity and mezzanine loans to property owners, and other assets related to mortgages, housing, and credit, along with strategic investments and commercial mortgage-backed securities (CMBS). Furthermore, the company extends its operations to owning and managing single-family rental properties. Qualifying as a Real Estate Investment Trust (REIT) for federal income tax purposes, Adamas Trust avoids federal corporate income taxes, provided it distributes a minimum of 90% of its taxable earnings to its stockholders. Established in 2003, the company's headquarters are located in New York, New York. It was formerly known as New York Mortgage Trust, Inc. until it officially changed its name to Adamas Trust, Inc. in September 2025.

Industry
REIT - Mortgage
Sector
Real Estate
Headquarters
US
CEO
Jason T. Serrano
Listed since
Sep 3, 2025
Employees
221

Market position

Day range

Current $9.94

52-week range

Current $9.94

Open
$10.04
Previous close
$9.93
Volume
1.33M
1.55× average
Average volume
860.42K
Average daily volume
Market cap
893.22M USD
Beta
1.25
Market reference 1
50-day average
$9.3218
+6.63% above average
200-day average
$8.2714
+20.17% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
5.81×
P/B (TTM)
0.61×
P/S (TTM)
0.93×
Dividend yield
9.66%

Profitability & efficiency

Gross margin
57.32%
Operating margin
37.99%
Net margin
21.13%

Financial health

Debt / equity
7.7×
Altman Z-score
0.08
Piotroski F-score
7 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends112%-18%-149%-279%Gross margin, FY2021: 79.15%Gross margin, FY2022: 6.29%Gross margin, FY2023: 61.63%Gross margin, FY2024: 42.63%Gross margin, FY2025: 43.81%Operating margin, FY2021: 50.22%Operating margin, FY2022: -246.26%Operating margin, FY2023: -15.52%Operating margin, FY2024: -16.62%Operating margin, FY2025: 17.11%Net margin, FY2021: 50.82%Net margin, FY2022: -216.21%Net margin, FY2023: -9.72%Net margin, FY2024: -11.10%Net margin, FY2025: 18.50%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 79.15%. Gross margin FY2022 6.29%. Gross margin FY2023 61.63%. Gross margin FY2024 42.63%. Gross margin FY2025 43.81%. Operating margin FY2021 50.22%. Operating margin FY2022 -246.26%. Operating margin FY2023 -15.52%. Operating margin FY2024 -16.62%. Operating margin FY2025 17.11%. Net margin FY2021 50.82%. Net margin FY2022 -216.21%. Net margin FY2023 -9.72%. Net margin FY2024 -11.10%. Net margin FY2025 18.50%.

Income trends

Revenue

805.53M USD+44.12%

Operating income

137.8M USD+230.72M USD

Net income

149.05M USD+211.08M USD
Income trends across reported periods920.09M USD461.84M USD3.58M USD−454.67M USDRevenue, FY2021: 380.19M USDRevenue, FY2022: 138.11M USDRevenue, FY2023: 500.8M USDRevenue, FY2024: 558.92M USDRevenue, FY2025: 805.53M USDOperating income, FY2021: 190.93M USDOperating income, FY2022: −340.11M USDOperating income, FY2023: −77.72M USDOperating income, FY2024: −92.92M USDOperating income, FY2025: 137.8M USDNet income, FY2021: 193.2M USDNet income, FY2022: −298.61M USDNet income, FY2023: −48.67M USDNet income, FY2024: −62.03M USDNet income, FY2025: 149.05M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 380.19M USD. Revenue FY2022 138.11M USD. Revenue FY2023 500.8M USD. Revenue FY2024 558.92M USD. Revenue FY2025 805.53M USD. Operating income FY2021 190.93M USD. Operating income FY2022 −340.11M USD. Operating income FY2023 −77.72M USD. Operating income FY2024 −92.92M USD. Operating income FY2025 137.8M USD. Net income FY2021 193.2M USD. Net income FY2022 −298.61M USD. Net income FY2023 −48.67M USD. Net income FY2024 −62.03M USD. Net income FY2025 149.05M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue805.53M USD558.92M USD500.8M USD138.11M USD380.19M USD
Cost of goods sold452.65M USD320.63M USD192.13M USD129.42M USD79.28M USD
Gross profit352.88M USD238.28M USD308.67M USD8.69M USD300.91M USD
Selling, general, and administrative66.29M USD42.78M USD44.82M USD47.67M USD45.44M USD
Operating expenses215.08M USD331.2M USD386.39M USD348.8M USD109.97M USD
Interest income601.95M USD401.28M USD258.66M USD258.39M USD206.87M USD
Interest expense452.65M USD317.43M USD192.13M USD129.42M USD79.28M USD
Depreciation and amortization39.7M USD60.04M USD52.12M USD152.96M USD51.39M USD
Operating income137.8M USD−92.92M USD−77.72M USD−340.11M USD190.93M USD
Net income149.05M USD−62.03M USD−48.67M USD−298.61M USD193.2M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
64%
7 beats, 4 misses, 0 met estimates
Average EPS surprise
-81.43%
11 comparable reports
Latest EPS result
0.47
Estimate 0.24 · Beat by 96.82%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.540.18-0.17-0.53Q1 '25MissQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 19, 2025: actual -0.46, estimate 0.056, surprise -922.16%, Miss. Q2 2025, reported Apr 30, 2025: actual 0.33, estimate 0.092, surprise +260.30%, Beat. Q3 2025, reported Jul 30, 2025: actual -0.04, estimate 0.202, surprise -119.78%, Miss. Q4 2025, reported Oct 29, 2025: actual 0.36, estimate 0.256, surprise +40.46%, Beat. Q1 2026, reported Feb 18, 2026: actual 0.45, estimate 0.24, surprise +87.50%, Beat. Q2 2026, reported Apr 29, 2026: actual 0.4, estimate 0.118, surprise +238.12%, Beat. Q3 2026, reported Jul 29, 2026: actual 0.47, estimate 0.239, surprise +96.82%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 0.292, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates76.34M54.29M32.24M10.19MQ1 '25MissQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 19, 2025: actual 22.14M USD, estimate 52M USD, surprise -57.43%, Miss. Q2 2025, reported Apr 30, 2025: actual 17.53M USD, estimate 46.06M USD, surprise -61.93%, Miss. Q3 2025, reported Jul 30, 2025: actual 17.81M USD, estimate 47.34M USD, surprise -62.39%, Miss. Q4 2025, reported Oct 29, 2025: actual 16.6M USD, estimate 47.03M USD, surprise -64.70%, Miss. Q1 2026, reported Feb 18, 2026: actual 14.08M USD, estimate 65.39M USD, surprise -78.46%, Miss. Q2 2026, reported Apr 29, 2026: actual 12.63M USD, estimate 63.91M USD, surprise -80.25%, Miss. Q3 2026, reported Jul 29, 2026: actual 11.98M USD, estimate 65.87M USD, surprise -81.81%, Miss. Q4 2026, reported Nov 4, 2026: actual —, estimate 71.57M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$9.50

4.43% downside
Past 12 months12-month forecastHigh $9.50Average $9.50Low $9.50

Rating distribution

4 ratings

Limited analyst sample: 4 ratings. Interpret the distribution with caution.

Strong buy00%
Buy250%
Hold250%
Sell00%
Strong sell00%

ADAM news

zacks.com

Are Finance Stocks Lagging Adamas Trust, Inc. (ADAM) This Year?

Here is how Adamas Trust (ADAM) and Interactive Brokers Group, Inc. (IBKR) have performed compared to their sector so far this year.

Read source
globenewswire.com

Adamas Trust, Inc. Announces Pricing of Public Offering of Senior Notes

NEW YORK, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Adamas Trust, Inc. (Nasdaq: ADAM) (the “Company”) announced today the pricing of an underwritten public offering of $90 million aggregate principal amount of its 9.600% senior…

Read source
defenseworld.net

Adamas Trust (NASDAQ:ADAM) versus Arbor Realty Trust (NYSE:ABR) Financial Contrast

Adamas Trust (NASDAQ: ADAM - Get Free Report) and Arbor Realty Trust (NYSE: ABR - Get Free Report) are both small-cap finance companies, but which is the better investment? We will contrast the two businesses based on…

Read source
defenseworld.net

Ares Commercial Real Estate (NYSE:ACRE) & Adamas Trust (NASDAQ:ADAM) Critical Contrast

Ares Commercial Real Estate (NYSE: ACRE - Get Free Report) and Adamas Trust (NASDAQ: ADAM - Get Free Report) are both small-cap finance companies, but which is the superior investment? We will contrast the two companies…

Read source
seekingalpha.com

Buy 9 August Dividend Power Dogs

The Dividend Power strategy selects 35 high-yield, low-valuation stocks, emphasizing robust dividends and resilience in downturns. Top ten Dividend Power stocks are projected to deliver an average 53.12% net gain by…

Read source
zacks.com

Is the Options Market Predicting a Spike in Adamas Trust Stock?

Investors need to pay close attention to ADAM stock based on the movements in the options market lately.

Read source

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$0.86

2025 complete year-46.3% since 2021

2026 partial: $0.50

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Sep 22, 2026

$0.30

Quarterly

Record Sep 22, 2026 · Payment Oct 28, 2026

Dividend

Ex-dividend Jun 23, 2026

$0.27

Quarterly

Record Jun 23, 2026 · Payment Jul 28, 2026

Dividend

Ex-dividend Mar 30, 2026

$0.23

Quarterly

Record Mar 30, 2026 · Payment Apr 28, 2026

Dividend

Ex-dividend Dec 22, 2025

$0.23

Quarterly

Record Dec 22, 2025 · Payment Jan 28, 2026

Dividend

Ex-dividend Sep 25, 2025

$0.23

Quarterly

Record Sep 25, 2025 · Payment Oct 30, 2025

Dividend

Ex-dividend Jun 23, 2025

$0.20

Quarterly

Record Jun 23, 2025 · Payment Jul 30, 2025

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ETFs holding ADAM

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Core S&P Small-Cap ETF logoiShares Core S&P Small-Cap ETFIJR
Market value
51.53M
Weight
0.05%
AUM
111.19B USD
Expense ratio
0.06%
Price / 1D
$147.31+0.64%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
23.58M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
21.68M
Weight
0.03%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Global X - SuperDividend ETF logoGlobal X - SuperDividend ETFSDIV
Market value
15.11M
Weight
1.22%
AUM
1.24B USD
Expense ratio
0.58%
Price / 1D
$24.92+0.69%
Invesco KBW High Dividend Yield Financial ETF logoInvesco KBW High Dividend Yield Financial ETFKBWD
Market value
10.93M
Weight
2.63%
AUM
417.88M USD
Expense ratio
5.39%
Price / 1D
$12.60+0.16%
iShares Mortgage Real Estate ETF logoiShares Mortgage Real Estate ETFREM
Market value
10.59M
Weight
1.95%
AUM
544.56M USD
Expense ratio
0.48%
Price / 1D
$22.02-0.23%
VanEck Mortgage REIT Income ETF logoVanEck Mortgage REIT Income ETFMORT
Market value
8.84M
Weight
2.38%
AUM
370.81M USD
Expense ratio
0.43%
Price / 1D
$9.90-0.30%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
8.76M
Weight
0.01%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%

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