Adamas Trust: 12% Yield With Commons, Series G Preferreds Trading For 75 Cents On The Dollar

2025-12-01 10:20:29 ET

Adamas Trust ( ADAM ) is fresh off a name change, recently hiked its common share dividend, and recorded an EPS beat for its fiscal 2025 third-quarter earnings. The mREIT has significantly expanded its asset base this year, with its residential loans at fair value growing by 8% since the start of the year to $4.15 billion as of the end of its third quarter. The internally managed mREIT had a $10.4 billion investment portfolio at the end of the third quarter, growing sequentially by 20% while increasing its allocation to single-family agency credit to 57% of its portfolio. The income is the prize, and the mREIT last declared a quarterly cash dividend of $0.23 per share , a substantial 15% increase versus its prior distribution, and $0.92 per share annualized for a 12% dividend yield. The raise represented the first hike since the summer of 2020, with the move representing a partial reversal of what's been a couple of dividend cuts since 2023....

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