Adamas Trust (ADAM) AI Stock Analysis

• Market Cap: $632.15M
• Dividend Yield: 3.2%
• Average Volume (3M): 563.56K
• Price to Earnings (P/E): 37.0
• Beta (1Y): 0.75
• Revenue Growth: 36.78%
• EPS Growth: N/A
• Country: US
• Employees: 70
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Mortgage
• EPS (TTM): 0.36
• Shares Outstanding: 90,307,780
• 10 Day Avg. Volume: 716,620
• 30 Day Avg. Volume: 563,562
• PEG Ratio: -0.59
• Price to Book (P/B): 0.39
• Price to Sales (P/S): 0.98
• P/FCF Ratio: 119.61
• Enterprise Value/Market Cap: 18.55
• Enterprise Value/Revenue: 17.89
• Enterprise Value/Gross Profit: 42.69
• Enterprise Value/Ebitda: 117.25
• 1Y Price Target: $7.83
• Price Target Upside: 8.90% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: $6.50 ▼(-9.60% Downside)

The overall stock score of 54 reflects a mixed financial performance with strong balance sheet fundamentals but challenges in profitability and revenue growth. Technical analysis indicates bearish momentum, while valuation suggests the stock is relatively expensive. The positive earnings call highlights strategic growth and investment, partially offsetting other concerns.

Positive Factors

Strong Balance Sheet

A strong equity base with no leverage risk enhances financial stability and provides a solid foundation for future growth and investment.

Strategic Acquisitions

Acquiring Constructive diversifies the balance sheet and enhances shareholder value, supporting long-term growth through increased exposure to business purpose loans.

Portfolio Expansion

Significant portfolio expansion with a focus on durable earnings assets strengthens the company's market position and supports sustained revenue growth.

Negative Factors

Declining Revenue

A significant drop in revenue indicates challenges in maintaining growth and profitability, potentially impacting long-term financial health.

Profitability Challenges

Negative profit margins highlight ongoing profitability issues, which could hinder the company's ability to generate sustainable returns for shareholders.

Unrealized Derivative Losses

Significant unrealized losses on derivatives can affect financial performance and stability, posing risks to future earnings and cash flow.

Adamas Trust Business Overview & Revenue Model

Company Description

Adamas Trust, Inc. acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. The company's targeted residential loans, including business purpose loans; agency RMBS; non-agency residential mortgage-backed securities (RMBS); structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties; and other mortgage-, residential housing- and credit-related assets and strategic investments; and commercial mortgage-backed securities (CMBS). It also owns and manages single-family rental properties. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Adamas Trust, Inc. was formerly known as New York Mortgage Trust, Inc. and changed its name to Adamas Trust, Inc. in September 2025. Adamas Trust, Inc. was incorporated in 2003 and is headquartered in New York, New York.

How the Company Makes Money

New York Mortgage Trust generates revenue primarily through the interest income earned on its mortgage loans and mortgage-backed securities. The company invests in a range of mortgage-related assets, including agency and non-agency securities, which provide varying yields based on market conditions. Additionally, NYMT may earn income from servicing fees associated with mortgage loans and potentially through the resale of mortgage-backed securities. The company's revenue model is supported by leveraging its equity capital to finance its investments, allowing it to enhance returns. Significant partnerships with financial institutions and access to capital markets also contribute to its earnings by facilitating the acquisition of mortgage assets at competitive rates.

Adamas Trust Financial Statement Overview

Summary

New York Mortgage's financial health presents a mixed picture. The company has a strong balance sheet with no debt and good cash reserves, but its income statement reveals challenges with declining revenues and ongoing losses. The cash flow statement shows reduced operating cash flow, though it remains positive. The company needs to address its profitability issues to improve investor confidence and long-term growth prospects.

Income Statement

New York Mortgage has experienced significant volatility in revenue and profit margins over the years. Recent data shows a decline in Total Revenue from $210 million in 2023 to $83.855 million in 2024, a significant drop. Gross Profit Margin remains stable at 100% for 2024, but Net Profit Margin is negative due to a net loss, indicating profitability challenges. EBIT and EBITDA margins are strong, but net losses raise concerns about overall profitability and growth trajectory.

Balance Sheet

The company's balance sheet shows a strong equity base, with Stockholders' Equity at $1.398 billion in 2024. With Total Debt at $0, the Debt-to-Equity Ratio indicates no leverage risk, which is positive. However, the Return on Equity is negative due to net losses, which impacts shareholder returns. The Equity Ratio is robust at approximately 15.2%, reflecting stable financial structure despite profitability challenges.

Cash Flow

Operating Cash Flow decreased from $29.953 million in 2023 to $14.071 million in 2024, indicating reduced cash generation from operations. Free Cash Flow remains positive but has also decreased. The Operating Cash Flow to Net Income and Free Cash Flow to Net Income ratios are impacted by negative net income but show the company's ability to generate operational cash despite losses. Cash reserves remain strong, helping to mitigate risks.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	655.38M	558.92M	500.80M	138.11M	380.19M	147.98M
Gross Profit	274.62M	238.28M	308.67M	8.69M	300.91M	135.64M
EBITDA	99.98M	-32.88M	-25.60M	-187.15M	242.32M	-66.75M
Net Income	62.16M	-62.03M	-48.66M	-298.61M	193.20M	-288.51M
Balance Sheet
Total Assets	10.55B	9.22B	7.40B	6.24B	5.66B	4.66B
Cash, Cash Equivalents and Short-Term Investments	1.42B	4.00B	2.20B	344.28M	490.45M	304.49M
Total Debt	8.92B	7.57B	5.28B	3.39B	3.08B	2.22B
Total Liabilities	9.16B	7.81B	5.77B	4.38B	3.23B	2.35B
Stockholders Equity	1.38B	1.39B	1.58B	1.77B	2.34B	2.30B
Cash Flow
Free Cash Flow	89.78M	4.60M	29.95M	91.78M	138.91M	110.88M
Operating Cash Flow	93.23M	14.07M	29.95M	91.78M	138.91M	111.08M
Investing Cash Flow	-2.57B	-2.24B	-1.22B	-508.77M	-132.95M	2.12B
Financing Cash Flow	2.38B	2.23B	1.14B	460.07M	27.41M	-2.05B

Adamas Trust Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.19
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADAM, the sentiment is Positive. The current price of 7.19 is above the 20-day moving average (MA) of 6.89, above the 50-day MA of 6.96, and above the 200-day MA of 6.35, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 62.52 is Neutral, neither overbought nor oversold. The STOCH value of 98.90 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ADAM.

Adamas Trust Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
TRTX	64 Neutral	$698.09M	13.69	5.87%	10.73%	-10.86%	-5.90%
ADAM	54 Neutral	$632.15M	37.04	4.52%	3.20%	36.78%	―
KREF	54 Neutral	$527.14M	―	-0.16%	12.08%	-24.37%	-19.19%
RWT	45 Neutral	$669.38M	―	-9.19%	13.74%	34.68%	-251.91%
CMTG	44 Neutral	$457.11M	―	-19.24%	―	-65.32%	-325.73%
RC	41 Neutral	$483.12M	―	-14.78%	21.85%	-43.56%	-166.72%

Adamas Trust Corporate Events

Adamas Trust Reports Strong Q3 2025 Earnings

Adamas Trust, Inc., an internally managed real estate investment trust (REIT), focuses on strategically deploying capital across complementary businesses to generate durable earnings and long-term value for stockholders through disciplined portfolio management and an operating platform designed to capture opportunities across real estate and capital markets.

Adamas Trust Reports Strong Q3 2025 Financial Results

Adamas Trust, Inc. reported its third-quarter 2025 financial results, highlighting a net income of $32.7 million and earnings available for distribution of $22 million. The company achieved significant investment activity, acquiring $1.8 billion in agency investments and $525.7 million in residential loans, while also increasing its quarterly dividend to $0.23 per share. The strategic moves, including the acquisition of the remaining interest in Constructive Loans, LLC, reflect Adamas Trust’s focus on long-term value creation and strengthening its position in the investment ecosystem.

The most recent analyst rating on (ADAM) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Adamas Trust stock, see the ADAM Stock Forecast page.

Adamas Trust Declares Quarterly Dividend Announcement

On September 15, 2025, Adamas Trust, Inc. announced that its Board of Directors declared a regular quarterly cash dividend of $0.23 per share for its common stock, payable on October 30, 2025, to stockholders of record as of September 25, 2025. Additionally, the Board declared cash dividends for various series of preferred stock for the period from July 15, 2025, to October 14, 2025, with payment dates set for October 15, 2025. This announcement reflects the company’s ongoing commitment to providing returns to its investors, reinforcing its position in the REIT industry.

The most recent analyst rating on (ADAM) stock is a Hold with a $7.25 price target. To see the full list of analyst forecasts on Adamas Trust stock, see the ADAM Stock Forecast page.