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An announcement from Adamas Trust ( (ADAM) ) is now available.
Adamas Trust reported that 2025 was a transformational year, with net income attributable to common stockholders reaching $101.1 million and earnings available for distribution of $80.6 million for the year ended December 31, 2025. The company expanded its investment portfolio by $3.1 billion, lifted its quarterly dividend 15% to $0.23 per share in the final two quarters, and achieved an adjusted book value of $10.63 per share, delivering a full-year economic return on adjusted book value of 11.01%.
Operationally, Adamas Trust accelerated investment in Agency securities and residential loans, purchasing about $4.4 billion of investment securities—$4.1 billion in Agency investments—and acquiring $1.7 billion of residential loans over 2025. It also exited remaining multifamily joint venture equity positions and received $79.2 million from redemptions of mezzanine lending investments, while completing the acquisition on July 15, 2025 of the remaining 50% of Constructive, strengthening its residential credit platform.
On the financing side in 2025, the company raised long-term capital through multiple note issuances totaling nearly $200 million in aggregate principal amount of senior notes due 2030 and completed four residential loan securitizations that generated about $945.5 million in net proceeds. It also redeemed three residential loan securitizations with $424.6 million in principal, signaling active balance-sheet management and a shift toward higher-yielding assets and more durable funding.
Subsequent to year-end, Adamas Trust further reshaped its liability structure by issuing $90 million of 9.25% senior notes due 2031 on January 13, 2026 and completing a new residential loan securitization that provided $309.1 million in net proceeds, used mainly to repay $287.3 million on repurchase agreements. On February 2, 2026, it redeemed its $100 million 5.75% senior notes due 2026, and on February 16, 2026, the board extended both common and preferred stock repurchase programs to March 31, 2027, preserving $285.8 million of total authorized capacity and underlining confidence in the firm’s capital position and future earnings power.
The most recent analyst rating on (ADAM) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Adamas Trust stock, see the ADAM Stock Forecast page.
Spark’s Take on ADAM Stock
According to Spark, TipRanks’ AI Analyst, ADAM is a Neutral.
Overall score reflects high balance-sheet leverage and modest underlying profitability (largest detractor), partially offset by constructive price trend, a high dividend yield, and a generally positive earnings update featuring continued EAD/dividend growth and modest book value gains.
To see Spark’s full report on ADAM stock, click here.
More about Adamas Trust
Adamas Trust, Inc., listed on Nasdaq as ADAM, operates as an investment company focused on interest-earning assets, notably Agency residential mortgage-backed securities and residential loans. The firm also consolidates its exposure through securitizations and, following the 2025 acquisition of Constructive, has expanded its presence in residential credit, emphasizing recurring income and book value growth for stockholders.
Average Trading Volume: 686,452
Technical Sentiment Signal: Buy
Current Market Cap: $736.9M
See more insights into ADAM stock on TipRanks’ Stock Analysis page.