Adamas Trust, Inc. filings document the disclosure record of a Maryland corporation taxed as a real estate investment trust for federal income tax purposes. Its 8-K filings report financial results, dividend declarations, residential finance activity, senior note transactions, and other material events tied to its internally managed real estate and capital markets platform.
The company’s SEC record also covers proxy governance and executive compensation matters through definitive proxy statements. Capital-structure disclosures identify Nasdaq-listed common stock, Series D, E, F and G cumulative redeemable preferred stock, and multiple senior note classes, including notes due 2029, 2030 and 2031.
ADAMAS TRUST, INC. (ADAM) reported a $171.0 million net loss attributable to common stockholders for the three months ended September 30, 2026, compared with $32.7 million of income a year earlier. Net interest income rose to $48.8 million from $36.6 million. The results also included $471.9 million of unrealized losses, $299.0 million of gains on derivative instruments and $168.2 million in total other loss. For the first nine months, common-stockholder net loss was $90.7 million, versus $59.5 million of income in 2025.
At September 30, 2026, total assets were $13.524 billion and total liabilities were $12.251 billion. Adamas received approximately $338.9 million of net proceeds from one residential-loan securitization in the quarter and approximately $1.2 billion from four during the nine months; the transactions were undertaken to obtain non-recourse, longer-term financing. A joint-venture entity sold a multifamily property for approximately $130.7 million, generating a $52.3 million net gain, of which $13.8 million was attributable to common stockholders. Formal foreclosure proceedings involved residential loans with $81.6 million fair value and $104.4 million unpaid principal balance as of September 30, 2026.
Adamas Trust, Inc. (ADAM) reported a third-quarter GAAP loss of $1.89 per common share, versus earnings of $0.36 a year earlier. Net loss attributable to common stockholders was $170.983 million, compared with income of $32.702 million. Adamas said lower Agency mortgage-security valuations amid rising rates and market volatility primarily drove the decline in adjusted book value.
Earnings available for distribution, a non-GAAP measure, was $0.30 per common share, up 25% year over year and equal to the declared dividend; the common dividend increased 11.1% quarter over quarter from $0.27 to $0.30. Book value per share was $7.93, down 21.9% quarter over quarter, and adjusted book value per share was $8.88, down 19.6%. GAAP net interest income was $48.8 million, down 2.8% quarter over quarter, while adjusted net interest income was $51.5 million, up 2.4%.
Adamas acquired $1.6 billion of single-family residential investments and issued $90.0 million of 9.600% senior notes due 2031, with approximately $86.6 million in net proceeds. After quarter-end, it issued a $313.1 million BPL-Rental securitization; TBA short positions were reduced by 76% as of October 26, 2026.
Adamas Trust, Inc. (ADAM) filed a shelf registration statement that, after effectiveness, permits it to offer common stock, preferred stock, debt securities and warrants from time to time, through underwriters, dealers or agents, or directly to purchasers. A prospectus supplement will describe the terms and sale method for each offering.
Unless a supplement provides otherwise, net proceeds will be added to general corporate funds and may be used for investments under the strategy then in place, debt repayment, redemption or repurchase of outstanding securities, or other general corporate purposes. The charter generally limits a person's beneficial or constructive ownership of common stock to 9.9% by value or share count, whichever is more restrictive, and ownership of any class or series to 9.9% by value.
Adamas Trust, Inc. (ADAM) announced that its Board of Directors declared cash dividends for the third quarter 2026 dividend period on its four listed preferred stock series. The dividends cover the period from July 15, 2026 through October 14, 2026 for the Series D, E, F and G preferred shares.
For this period, the Board declared per-share cash dividends of $0.50 on the 8.000% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.6672255 on the 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.4296875 on the 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, and $0.4375 on the 7.000% Series G Cumulative Redeemable Preferred Stock. The record date for all four series is October 1, 2026, and the cash dividends are scheduled to be paid on October 15, 2026.
ADAMAS TRUST, INC. (ADAM) received an amended Schedule 13D from investor Howard Amster and a group of affiliated entities updating their ownership in the company’s common stock.
The reporting persons collectively report beneficial ownership of 4,381,764 shares of common stock, representing 4.9% of the class, based on 89,879,786 shares outstanding as of July 24, 2026. Amster’s beneficial ownership is held directly and through multiple entities, including Pleasant Lake Apartments entities, various Howard Amster charitable remainder and other trusts, Amster Limited Partnership, Ramat Securities Ltd., the Howard Amster Foundation, NewAx Inc., Pleasant Lake Skoien Investments LLC, and Horizon Group Properties Inc.
The amendment also details recent open‑market sales of ADAM common stock by Howard Amster between June 25, 2026 and August 20, 2026. These transactions were all sales executed on the open market at prices generally ranging from about $9.04 to $10.24 per share.
Adamas Trust, Inc. completed a public offering of $90 million aggregate principal amount of 9.600% Senior Notes due 2031 under its shelf registration. The Notes were issued at 100% of principal and sold to a syndicate of underwriters led by Morgan Stanley & Co. LLC and others, who also received a 30‑day option to buy up to an additional $13.5 million principal amount to cover over‑allotments.
The Notes pay cash interest at 9.600% per year, payable quarterly in arrears on January 1, April 1, July 1 and October 1, beginning October 1, 2026, and are expected to mature on October 1, 2031, unless earlier redeemed. The company may redeem them, in whole or in part, at par plus accrued and unpaid interest on or after October 1, 2028, with 30–60 days’ prior written notice. The Notes are senior unsecured obligations, ranking equal with Adamas Trust’s other unsecured, unsubordinated senior notes and effectively and structurally subordinated as described in the indenture. Net proceeds are expected to be about $86.6 million, to be used for general corporate purposes, including acquiring targeted assets and/or repaying existing indebtedness.
Adamas Trust, Inc. is issuing $90,000,000 aggregate principal amount of 9.600% Senior Notes due 2031, with an additional $13,500,000 available to underwriters under an over-allotment option. The notes pay 9.600% interest quarterly beginning October 1, 2026 and mature on October 1, 2031, and may be redeemed at par on or after October 1, 2028.
The notes are senior unsecured obligations ranking equally with $347.5 million of existing senior notes and effectively junior to secured and subsidiary-level debt within total consolidated indebtedness of about $11.4 billion as of June 30, 2026. Holders receive a 101% cash repurchase right upon a defined Change of Control Repurchase Event.
Adamas, an internally managed mortgage REIT focused on residential and mortgage credit assets, expects net proceeds of about $86.6 million (or $99.6 million if the option is fully exercised) for general corporate purposes, including acquiring targeted assets and/or repaying existing debt. The company has applied to list the notes on Nasdaq under the symbol “ADAMK”.
Adamas Trust, Inc. entered into an underwriting agreement on August 11, 2026 with Morgan Stanley & Co. LLC, Keefe, Bruyette & Woods, Inc., Piper Sandler & Co., RBC Capital Markets, LLC, UBS Securities LLC and Wells Fargo Securities, LLC as representatives of the underwriters.
Under this agreement, the company agreed to sell $90 million aggregate principal amount of its 9.600% Senior Notes due 2031, with a 30-day option for the underwriters to purchase up to an additional $13.5 million aggregate principal amount to cover over-allotments. The notes are being issued off an effective Form S-3 shelf registration, using a base prospectus and preliminary and final prospectus supplements dated August 11, 2026.
The transaction is expected to close on August 14, 2026, subject to customary closing conditions. Adamas Trust made customary representations, warranties and covenants and agreed to indemnify the underwriters against certain liabilities, including under the Securities Act of 1933. The company also includes a detailed cautionary statement regarding forward-looking statements and cross-references risk factors in its Form 10-K filed on February 20, 2026.
Adamas Trust, Inc. is offering a new series of senior unsecured notes due October 1, 2031 under a prospectus supplement. The notes pay fixed quarterly interest, are issued in $25 denominations, and may be redeemed at the company’s option on or after October 1, 2028 at 100% of principal plus accrued interest.
Upon a Change of Control Repurchase Event, holders can require the company to repurchase the notes at 101% of principal plus accrued interest. The notes rank pari passu with Adamas Trust’s existing senior unsecured notes and are effectively subordinated to secured and subsidiary debt. As of June 30, 2026, total consolidated indebtedness was $11.4 billion, including $347.5 million of senior unsecured notes. Net proceeds are intended for general corporate purposes, including acquiring targeted assets and/or repaying existing indebtedness. The company has applied to list the notes on Nasdaq under the symbol “ADAMK”.
Adamas Trust, Inc. declared a higher regular quarterly cash dividend on its common stock. The Board approved a $0.30 per share dividend for the quarter ending September 30, 2026, up from $0.27 per share for the prior quarter, an 11.1% increase.
The dividend will be payable on October 28, 2026 to common stockholders of record as of the close of business on September 22, 2026. Management stated that the higher dividend reflects the perceived strength of earnings and confidence in Adamas’ financial position and outlook, citing expected earnings performance, balance sheet and access to capital as support for both growth initiatives and stable stockholder distributions.