Adamas Trust Reports Q3 2026 Results with Increased Cash and Dividend Coverage Amid Book Value Decline
Adamas Trust, Inc. (ADAM) reported its third-quarter 2026 financial results, characterized by a significant decline in adjusted book value to $8.88 per share, a 19.6% decrease from the previous quarter. This decline was primarily driven by price reductions on Agency RMBS holdings and increased interest rate volatility that impacted convexity within the agency portfolio. Despite valuation headwinds, the company demonstrated improved liquidity and earnings capacity. Earnings available for distribution (EAD) rose 25% year-over-year to $0.30 per share, fully covering the quarterly dividend. Adamas also strengthened its cash position by 42% to $259 million and proactively reduced leverage, with economic recourse leverage dropping from 5.5x to 4.8x.
Tickers: $ADAMZ
Topics: book value earnings release leverage liquidity net interest income