--- title: "ADAMAS TRUST INC. 8% SERIS D FXD TO FLOTIG RTE CUM RED PRE | 8-K: FY2025 Q3 Revenue: USD 179.74 M" type: "news" locale: "en" url: "https://longbridge.com/en/news/263367790.md" published_at: "2025-10-29T20:26:16.000Z" --- # ADAMAS TRUST INC. 8% SERIS D FXD TO FLOTIG RTE CUM RED PRE | 8-K: FY2025 Q3 Revenue: USD 179.74 M Revenue: As of FY2025 Q3, the actual value is USD 179.74 M. EPS: As of FY2025 Q3, the actual value is USD 0.36. EBIT: As of FY2025 Q3, the actual value is USD 2.901 M. ### Segment Revenue - Total investment portfolio increased by $1.8 billion (+20% change QoQ). - Total adjusted interest income of $150 million (+13% change QoQ). - Interest Income: $160,633 thousand for the three months ended September 30, 2025. ### Operational Metrics - Earnings per share (basic) of $0.36. - Earnings Available for Distribution (EAD) per share of $0.24 (+9% change QoQ). - Book value per share of $9.20 (+1.0% change QoQ). - Adjusted Book Value per share of $10.38 (+1.2% change QoQ). - 3.51% Quarterly Economic Return. - 3.41% Quarterly Economic Return on Adjusted Book Value. - Declared third quarter common stock dividend of $0.23 per share (+15% change QoQ). - Common stock dividend yield of 13.20% (share price as of September 30, 2025). - Net income attributable to common stockholders was $32.7 million. - Net Income Attributable to Company’s Common Stockholders: $32,702 thousand for the three months ended September 30, 2025. - Net Interest Income: $36,586 thousand for the three months ended September 30, 2025. - Total General, Administrative and Operating Expenses: $41,825 thousand for the three months ended September 30, 2025. ### Cash Flow - Excess liquidity capacity of $424 million, including available cash of $181 million and additional financing of $243 million available for unencumbered/under-levered assets. ### Unique Metrics - Acquired remaining 50% ownership interest in Constructive Loans, LLC, a leading originator of business purpose loans for residential real estate investors. - Issued $115 million of 9.875% senior unsecured notes due 2030. - Issued $370 million rated performing and re-performing residential loan securitization with a 5.70% effective cost. - Issued $275 million rated BPL-Rental securitization with a 5.17% effective cost. - Company Recourse Leverage Ratio of 5.0x. - Portfolio Recourse Leverage Ratio of 4.7x. - Agency Portfolio Recourse Leverage Ratio of 7.8x. - Credit and Other Portfolio Recourse Leverage Ratio of 0.9x. - Yield on Average Interest Earning Assets: 6.33% for the three months ended September 30, 2025. - Net Interest Spread: 1.50% for the three months ended September 30, 2025. ### Outlook / Guidance - Adamas anticipates continued growth of the portfolio, albeit at a lower pace than 3Q 2025. - Adamas will continue to invest in its core strategies and utilize its excess liquidity to capitalize on opportunities during periods of volatility. - The targeted profile of Agency purchases remains current coupon specified pools with lower pay-ups. - The company has increased its quarterly dividend to $0.23 per common share, reflecting a strategic focus on assets with greater earnings durability. - The acquisition of the remaining 50% interest in a market-leading business purpose loan origination platform is expected to drive earnings available for distribution higher for the sixth consecutive quarter. - The company aims to continue its disciplined capital rotation strategy to enhance long-term value creation for stockholders. ### Related Stocks - [ADAMN.US - ADAMAS TRUST INC. 8% SERIS D FXD TO FLOTIG RTE CUM RED PRE](https://longbridge.com/en/quote/ADAMN.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | US Jan existing homes sales data | US Jan existing homes sales data | [Link](https://longbridge.com/en/news/275818321.md) | | Monthly Dividend Stock In Focus: Morguard North American Residential REIT | Morguard North American Residential REIT (MNARF) is a Canadian multi-family residential REIT that offers monthly dividen | [Link](https://longbridge.com/en/news/275942003.md) | | Cucinelli Moves Board Meeting For Fy25 Results Approval To Feb 18 | Brunello Cucinelli SpA :MOVES BOARD MEETING TO FEBRUARY 18 FOR FY25 RESULTS APPROVALMOVES Q1 REVENUE APPROVAL TO APRIL 9 | [Link](https://longbridge.com/en/news/275636677.md) | | Taylor Morrison Home Q4 Earnings Call Highlights | Taylor Morrison Home (NYSE:TMHC) reported strong Q4 results, exceeding expectations despite challenging market condition | [Link](https://longbridge.com/en/news/275695163.md) | | Morguard North American Residential REIT reports Q4 results | Morguard North American Residential REIT reports Q4 results | [Link](https://longbridge.com/en/news/275514785.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.