Adamas Trust, Inc. Q1 2026 Results

Adamas Trust, Inc. reported its financial results for the first quarter ended March 31, 2026. The company announced a GAAP basic earnings per share of $0.41 and earnings available for distribution (EAD) per common share of $0.29, marking a significant year-over-year and quarter-over-quarter increase. Book value per share rose to $9.98, with adjusted book value per share at $10.80. Total net interest income reached $48.4 million, an increase from the previous quarter. The company declared a first-quarter common stock dividend of $0.23 per share. Key business highlights include the acquisition of $1.0 billion in new single-family residential investments, expansion of the Agency investment portfolio to $6.8 billion, and origination of $422.2 million in business purpose loans through its Constructive platform. The company also issued $90.0 million of 9.250% senior unsecured notes due 2031 and repurchased 612,464 shares of common stock. Financial tables detail the company's assets, liabilities, and operations, with a focus on interest-earning assets and financing costs. Non-GAAP financial measures, such as EAD and adjusted book value, are provided to offer further insight into the company's performance and value.