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Adamas Trust, Inc. — Third Quarter 2026 Earnings Summary

  • Earnings available for distribution (EAD) per share rose 25% year-over-year to $0.30, while GAAP basic loss per share was $1.89; total net interest income declined 2.8% quarter-over-quarter to $48.8 million, though adjusted net interest income increased 2.4% to $51.5 million.
  • Book value per share fell 21.9% quarter-over-quarter to $7.93 and adjusted book value dropped 19.6% to $8.88, driven by lower valuations for Agency mortgage securities amid rising interest rates and market volatility.
  • The company raised the common stock dividend by 11.1% quarter-over-quarter to $0.30 per share and acquired $1.6 billion in new single-family residential investments, including $1.2 billion in Agency investments.
  • Management views current asset repricing as creating attractive investment opportunities, citing strong underlying fundamentals and financial flexibility, while reducing TBA short positions by 76% subsequent to quarter-end to mitigate rate exposure.
Company
ADAMAS TRUST INC
Sector
Financial Services
Industry
REIT - Mortgage