Adamas Trust, Inc.
ADAMAS TRUST, INC. is classified under Real Estate / Real Estate Investment Trusts and appears profitable on the latest normalized snapshot.
Business. ADAMAS TRUST, INC. (ADAM) is a financial services company operating within the Life & Health Insurance industry. The firm is headquartered in the United States and is primarily listed on the Nasdaq stock exchange. Specific details regarding its operating segments and geographic presence are not provided in the available data.
Analyst recommendations
5 analysts · consensus HoldAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Adamas Trust Inc. (ADAM) has recorded two notable additions to its shareholder base, marking the first analysis for the ticker with no prior basis for delta computation. The most significant change involves investor ID 466, which established a position of 15,078,561 shares valued at approximately $88.06 million as of June 30, 2024. This substantial entry represents a weight of roughly 0.20% in the relevant portfolio, signaling a meaningful accumulation of equity in the trust. A second, smaller addition was detected from investor ID 497, who acquired 220,943 shares valued at approximately $1.34 million as of December 31, 2024. This position carries a weight of approximately 0.04%. While less impactful than the entry by investor ID 466, this addition further diversifies the company’s holder profile, bringing the total count of top holders to 26. These changes occur within a broader context where Adamas Trust Inc. is followed by five analysts, though it currently holds no index memberships. The company reports an officer count of zero in the available data, suggesting a specific corporate structure or reporting classification. The absence of prior material changes in the dataset underscores that these holder additions are the primary recent developments available for analysis. The significance of these new holdings lies in the fresh capital interest they represent for the trust. With no prior comparative data to establish a trend, these entries serve as the initial baseline for monitoring institutional or significant investor activity. The detection of these changes on June 20, 2026, provides the first concrete evidence of specific investor engagement levels for ADAM in this reporting cycle.
Signals & dispatch
Composite-score breakdown
Synthesis
ADAMAS TRUST, INC. (ADAM) is a financial services company operating within the Life & Health Insurance industry. The firm is headquartered in the United States and is primarily listed on the Nasdaq stock exchange. Specific details regarding its operating segments and geographic presence are not provided in the available data.
ADAMAS TRUST, INC. (ADAM) is currently classified as Equity REITs within Real Estate Investment Trusts (Real Estate). Classification confidence: 0.98 (rule-based classification). Capital structure on the latest snapshot: total assets 12,790,341,000 USD, total equity 1,456,461,000, short-term debt 0, long-term debt 0. Net cash position is approximately 208,915,000 USD. Self-calculated market cap is 796,319,000 USD (market_price × shares_outstanding_diluted). Profitability profile: revenue 0, gross profit 0, operating income 86,725,000, net income 48,601,000. Return on equity ~3.3%. Return on assets ~0.4%. Operating-cash-flow to net-income ratio is -0.34. Risk profile from automated assessment: liquidity risk low, dilution risk medium. Flags: Source documents mention dilution or offering risk.. Recent news context: [TRIGGER] pre_earnings_window: pre_earnings_window (pre_earnings_window) on ADAM — reason=Pre-earnings freshness window T-1 for ADAM Q2 2026 (confirmed via sec_filed); urgency=high; watcher=pre_earnings_window; days_out=0; source_id=sec_filed:7344d03f-b94b-4cdf-b31a-a6ebfb080be4:Q2 2026; date_basis=sec_8k_forward; date_source=sec_filed; offset_days=1; report_date=2026-07-30; period_label=Q2 2026; window_label=T-1; confirmed_basis=filed; contributing_watchers=pre_earnings_window (source=sec_filed; url=pew:Q2 2026:T-1). Additional context: pre_earnings_window: reason=Pre-earnings freshness window T-1 for ADAM Q2 2026 (confirmed via sec_filed); urgency=high; watcher=pre_earnings_window; days_out=0; source_id=sec_filed:7344d03f-b94b-4cdf-b31a-a6ebfb080be4:Q2 2026; date_basis=sec_8k_forward; date_source=sec_filed; offset_days=1; report_date=2026-07-30; period_label=Q2 2026; window_label=T-1; confirmed_basis=filed; contributing_watchers=pre_earnings_window.
Adamas Trust Inc. (ADAM) has recorded two notable additions to its shareholder base, marking the first analysis for the ticker with no prior basis for delta computation. The most significant change involves investor ID 466, which established a position of 15,078,561 shares valued at approximately $88.06 million as of June 30, 2024. This substantial entry represents a weight of roughly 0.20% in the relevant portfolio, signaling a meaningful accumulation of equity in the trust. A second, smaller addition was detected from investor ID 497, who acquired 220,943 shares valued at approximately $1.34 million as of December 31, 2024. This position carries a weight of approximately 0.04%. While less impactful than the entry by investor ID 466, this addition further diversifies the company’s holder profile, bringing the total count of top holders to 26. These changes occur within a broader context where Adamas Trust Inc. is followed by five analysts, though it currently holds no index memberships. The company reports an officer count of zero in the available data, suggesting a specific corporate structure or reporting classification. The absence of prior material changes in the dataset underscores that these holder additions are the primary recent developments available for analysis. The significance of these new holdings lies in the fresh capital interest they represent for the trust. With no prior comparative data to establish a trend, these entries serve as the initial baseline for monitoring institutional or significant investor activity. The detection of these changes on June 20, 2026, provides the first concrete evidence of specific investor engagement levels for ADAM in this reporting cycle.
- Observed GAAP P/E is about 16.38x.
- Return on equity is about 3.3%.
- Debt to equity is about 0.0x.
- [TRIGGER] pre_earnings_window: pre_earnings_window (pre_earnings_window) on ADAM — reason=Pre-earnings freshness window T-1 for ADAM Q2 2026 (confirmed via sec_filed); urgency=high; watcher=pre_earnings_window; days_out=0; source_id=sec_filed:7344d03f-b94b-4cdf-b31a-a6ebfb080be4:Q2 2026; date_basis=sec_8k_forward; date_source=sec_filed; offset_days=1; report_date=2026-07-30; period_label=Q2 2026; window_label=T-1; confirmed_basis=filed; contributing_watchers=pre_earnings_window (source=sec_filed; url=pew:Q2 2026:T-1)
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us-gaap:OperatingSegmentsMember adam:InvestmentPortfolioSegmentMember 2026-03-31 0001273685 us-gaap:OperatingSegmentsMember adam:ConstructiveSegmentMember 2026-03-31 0001273685 us-gaap:CorporateNonSegmentMember 2026-03-31 0001273685 adam:ConstructiveSegmentMember 2026-03-31 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ____________ Commission file number 001-32216 ADAMAS TRUST, INC.
- AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands, except per share data) (unaudited) For the Three Months Ended March 31, 2026 2025 NET INTEREST INCOME: Interest income $ 172,065 $ 129,734 Interest expense 123,654 96,636 Total net interest income 48,411 33,098 NET LOSS FROM REAL ESTATE: Rental income 12,625 17,534 Other real estate income 1,943 3,121 Total income from real estate 14,568 20,655 Interest expense, mortgages payable on real estate 3,821 6,007 Depreciation expense 4,623 5,895 Other real estate expenses 8,726 10,988 Total expenses related to real estate 17,170 22,890 Total net loss from real estate ( 2,602 ) ( 2,235 ) OTHER INCOME (LOSS): Realized losses, net ( 10,680 ) ( 41,100 ) Unrealized (losses) gains, net ( 62,568 ) 118,203 Gains (losses) on derivative instruments, net 87,814 ( 46,802 ) Mortgage banking activities, net 15,330 — Income from equity investments 721 3,589 Impairment of real estate ( 2,231 ) ( 3,905 ) Other income 52,561 1,967 Total other income 80,947 31,952 GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES: General and administrative expenses 24,487 12,414 Portfolio operating expenses 6,137 7,206 Loan origination costs 4,025 — Financing transaction costs 5,382 5,482 Total general, administrative and operating expenses 40,031 25,102 INCOME FROM OPERATIONS BEFORE INCOME TAXES 86,725 37,713 Income tax expense 159 648 NET INCOME 86,566 37,065 Net (income) loss attributable to non-controlling interests ( 37,965 ) 5,090 NET INCOME ATTRIBUTABLE TO COMPANY 48,601 42,155 Preferred stock dividends ( 11,704 ) ( 11,870 ) NET INCOME ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS $ 36,897 $ 30,285 Basic earnings per common share $ 0.41 $ 0.33 Diluted earnings per common share $ 0.40 $ 0.33 Weighted average shares outstanding-basic 90,353 90,583 Weighted average shares outstanding-diluted 92,060 91,091 The accompanying notes are an integral part of the condensed consolidated financial statements.
Bull / Bear case
Generated · model-assistedIn focus — financials by report
Operating income $86.7M.
- ▍Operating income $86.7M
Operating income $81.5M.
- ▍Operating income $81.5M
Operating income $42.0M.
- ▍Operating income $42.0M
Operating income $137.8M.
- ▍Operating income $137.8M
Operating income -$92.9M.
- ▍Operating income -$92.9M
Operating income -$92.9M.
- ▍Operating income -$92.9M
Operating income -$77.7M.
- ▍Operating income -$77.7M
Operating income -$77.7M.
- ▍Operating income -$77.7M
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Source documents mention dilution or offering risk.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareAcquired 14 238grant · 2026-06-19
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareAcquired 14 238grant · 2026-06-19
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareAcquired 14 238grant · 2026-06-19
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareAcquired 14 238grant · 2026-06-19
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareAcquired 14 238grant · 2026-06-19
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareAcquired 14 238grant · 2026-06-19
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareDisposed 18 678exercise · 2026-06-10
- President · Restricted Stock Units → Common Stock, par value $0.01 per shareAcquired 127 321grant · 2026-01-22
- Chief Financial Officer · Restricted Stock Units → Common Stock, par value $0.01 per shareAcquired 61 989grant · 2026-01-22
- Director, Chief Executive Officer · Restricted Stock Units → Common Stock, par value $0.01 per shareAcquired 216 711grant · 2026-01-22
- President · Restricted Stock Units → Common Stock, par value $0.01 per shareDisposed 24 414exercise · 2026-01-01
- President · Restricted Stock Units → Common Stock, par value $0.01 per shareDisposed 32 122exercise · 2026-01-01
- President · Restricted Stock Units → Common Stock, par value $0.01 per shareDisposed 48 948exercise · 2026-01-01
- Director, Chief Executive Officer · Restricted Stock Units → Common Stock, par value $0.01 per shareDisposed 34 179exercise · 2026-01-01
- Director, Chief Executive Officer · Restricted Stock Units → Common Stock, par value $0.01 per shareDisposed 41 032exercise · 2026-01-01
- Director, Chief Executive Officer · Restricted Stock Units → Common Stock, par value $0.01 per shareDisposed 84 737exercise · 2026-01-01
- Chief Financial Officer · Restricted Stock Units → Common Stock, par value $0.01 per shareDisposed 9 765exercise · 2026-01-01
- Chief Financial Officer · Restricted Stock Units → Common Stock, par value $0.01 per shareDisposed 24 123exercise · 2026-01-01
- Chief Financial Officer · Restricted Stock Units → Common Stock, par value $0.01 per shareDisposed 12 309exercise · 2026-01-01
Actions
Ask Handelsavisen
- Market data
- Regulatory filings
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Cash Conversion Ratiooperating_cash_flow / net_income
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Return On Equitynet_income / total_equity
- Market Capmarket_price * shares_outstanding_diluted
- Ev To Operating Incomeenterprise_value / operating_income
- ADAMAS TRUST, INC. company facts · 2026-07-30
- ADAMAS TRUST, INC. 10-Q 2026-05-01 · 2026-07-30
- ADAMAS TRUST, INC. 10-K 2026-02-20 · 2026-07-30
- ADAMAS TRUST, INC. 10-Q 2025-11-04 · 2026-07-30
- ADAMAS TRUST, INC. 10-Q 2025-08-01 · 2026-07-30
- pre_earnings_window (pre_earnings_window) on ADAM · 2026-07-30
- Adamas Trust Inc Market data — analyst estimates · 2026-07-30
- Adamas Trust Inc Market data — ESG · 2026-07-30
- ADAMAS TRUST, INC. HA canonical relationships · 2026-07-30
Ownership & reference
Insider activity
- Director · Common Stock, par value $0.01 per shareOther 18 678 · 2026-06-10
- Director, Chief Executive Officer · Common Stock, par value $0.01 per shareOther 5 827 @ $8,41$49K · 2026-01-27
- Chief Financial Officer · Common Stock, par value $0.01 per shareOther 751 @ $8,41$6K · 2026-01-27
- President · Common Stock, par value $0.01 per shareOther 2 237 @ $8,41$19K · 2026-01-27
- Director, Chief Executive Officer · Common Stock, par value $0.01 per shareOther 19 140 @ $7,30$140K · 2026-01-01
- Chief Financial Officer · Common Stock, par value $0.01 per shareOther 13 342 @ $7,30$97K · 2026-01-01
- Chief Financial Officer · Common Stock, par value $0.01 per shareOther 24 123 · 2026-01-01
- Chief Financial Officer · Common Stock, par value $0.01 per shareOther 7 311 @ $7,30$53K · 2026-01-01
- Chief Financial Officer · Common Stock, par value $0.01 per shareOther 12 309 · 2026-01-01
- Chief Financial Officer · Common Stock, par value $0.01 per shareOther 5 769 @ $7,30$42K · 2026-01-01
- Chief Financial Officer · Common Stock, par value $0.01 per shareOther 9 765 · 2026-01-01
- Director, Chief Executive Officer · Common Stock, par value $0.01 per shareOther 44 640 @ $7,30$326K · 2026-01-01
- Director, Chief Executive Officer · Common Stock, par value $0.01 per shareOther 84 737 · 2026-01-01
- Director, Chief Executive Officer · Common Stock, par value $0.01 per shareOther 21 455 @ $7,30$157K · 2026-01-01
- Director, Chief Executive Officer · Common Stock, par value $0.01 per shareOther 41 032 · 2026-01-01
- Director, Chief Executive Officer · Common Stock, par value $0.01 per shareOther 34 179 · 2026-01-01
- President · Common Stock, par value $0.01 per shareOther 26 784 @ $7,30$196K · 2026-01-01
- President · Common Stock, par value $0.01 per shareOther 48 948 · 2026-01-01
- President · Common Stock, par value $0.01 per shareOther 17 505 @ $7,30$128K · 2026-01-01
- President · Common Stock, par value $0.01 per shareOther 32 122 · 2026-01-01
- President · Common Stock, par value $0.01 per shareOther 14 509 @ $7,30$106K · 2026-01-01
- President · Common Stock, par value $0.01 per shareOther 24 414 · 2026-01-01
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Debt-to-equity (FY 2025-12-31): 7.85xDerived (calculated)
- EPS (basic) (YoY) (2025-12-31 vs 2024-12-31): 198.2%Derived (calculated)
- EPS (diluted) (YoY) (2025-12-31 vs 2024-12-31): 196.5%Derived (calculated)
- Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): 25.6%Derived (calculated)
- Long-term debt (YoY) (2025-12-31 vs 2024-12-31): 28.4%Derived (calculated)
- Return on equity (FY 2025-12-31): 10.4%Derived (calculated)
- Capex (YoY) (2025-12-31 vs 2024-12-31): -66.9%Derived (calculated)
- Return on assets (FY 2025-12-31): 1.2%Derived (calculated)
- Total liabilities (YoY) (2025-12-31 vs 2024-12-31): 43.6%Derived (calculated)
- Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): 852.6%Derived (calculated)
- Operating income (YoY) (2025-12-31 vs 2024-12-31): 248.3%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): 2.3%Derived (calculated)
- Net income (YoY) (2025-12-31 vs 2024-12-31): 340.3%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): 37.1%Derived (calculated)
- Shareholders' equity (annual): USD 1.43BSEC XBRL filing
- Capex (annual): USD 8.15MSEC XBRL filing
- Net income (annual): USD 149.05MSEC XBRL filing
- Total operating expenses (annual): USD 122.94MSEC XBRL filing
- Total liabilities (annual): USD 11.21BSEC XBRL filing
- Operating cash flow (annual): USD 134.04MSEC XBRL filing
- Cash & equivalents (annual): USD 210.33MSEC XBRL filing
- EPS (basic) (annual): USD-PER-SHARES 1SEC XBRL filing
- EPS (diluted) (annual): USD-PER-SHARES 1SEC XBRL filing
- Operating income (annual): USD 137.8MSEC XBRL filing