Adamas Trust, Inc. (Nasdaq: ADAM), formerly New York Mortgage Trust, is an internally managed real estate investment trust. It deploys capital across complementary residential real estate finance businesses to generate recurring income for stockholders.
The company reports two segments:
- Investment Portfolio: about $9.6 billion at quarter-end. Holdings include single-family Agency RMBS and TBAs, single-family credit (BPL-Rental and BPL-Bridge loans, performing, re-performing and scratch-and-dent loans, non-Agency RMBS including Consolidated SLST securities, and single-family rental properties), and multi-family mezzanine lending and preferred equity. Other investments include U.S. Treasuries and mortgage servicing rights.
- Constructive: Constructive Loans, LLC, a wholly owned business purpose loan origination platform acquired in July 2025. It has originated over $7.4 billion of BPLs since 2017, primarily BPL-Rental (DSCR) loans with prepayment protection, through wholesale and retail channels.
The company funds its assets with repurchase agreements, warehouse facilities, securitizations, senior unsecured notes and subordinated debentures. It earns net interest spread and mortgage banking income, and pays common and preferred (Series D, E, F, G) dividends. Updated
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Adamas Trust, Inc. (Nasdaq: ADAM), formerly New York Mortgage Trust, is an internally managed real estate investment trust. It deploys capital across complementary residential real estate finance businesses to generate recurring income for stockholders.
