New York Mortgage Trust, Inc. (ADAM) AI Stock Analysis

Adamas Trust, Inc. acquires, invests in, finances, and manages mortgage-related single-family and multifamily residential assets across the United States. It operates through two core segments: Investment Portfolio and Constructive. The Investment Portfolio segment holds residential mortgage-backed securities, residential loans, multifamily loans, preferred equity, joint venture equity investments, and mezzanine lending. The Constructive segment operates as a business purpose loan lender focused on rental and transitional loans for real estate investors, as well as loan origination and sales. The company operates as a REIT, generally avoiding federal corporate income taxes by distributing at least 90% of its taxable income.

In FY2025, revenue rose 44.1% to $805.5M, rebounding from $558.9M in FY2024 and delivering a 5-year revenue CAGR of 40.3% from FY2020. The company returned to profitability in FY2025 with net income of $149.0M, an operating margin of 17.1%, and an EPS of $1.01, reversing net losses of -$62.0M in FY2024 and -$48.7M in FY2023. For the trailing twelve months ended June 30, 2026, revenue stood at $381.7M with an operating margin of 51.7% and EPS of $1.68. For the quarter ended June 30, 2026, quarterly revenue grew 129.8% year-over-year while quarterly earnings expanded 21.2%.

As of June 30, 2026, Adamas Trust held $212.3M in cash and short-term investments against total debt of $11.32B, resulting in net debt of $11.10B. Shareholders' equity was $1.47B, with a debt-to-equity ratio of 7.70 and a current ratio of 1.02. In FY2025, operating cash flow reached $134.0M and free cash flow was $125.9M. Cash deployment in FY2025 included $8.2M for capital expenditures, $1.5M for share buybacks, and $122.0M paid out in common dividends.

ADAM closed at $7.64 on October 16, 2026, with a market capitalization of $686.7M and an enterprise value of $12.33B. The stock trades at a trailing P/E of 4.5x and a forward P/E of 6.9x, both below the median of its US-listed Real Estate peers of 21.6x and 23.5x, respectively. Its price-to-book ratio is 0.8x, and its price-to-sales ratio is 1.8x compared to the peer median of 3.7x. Over the past year, ADAM gained 28.1%, outperforming the S&P 500 return of 16.8%, but its 5-year return of -16.1% trailed the index return of 83.0%.

Adamas Trust pays a quarterly dividend totaling an annual forward dividend of $1.20, representing a dividend yield of 15.71%. The company has maintained 23 consecutive years of dividend payments, though its 5-year annualized dividend growth stands at -0.9%. Its payout ratio is 87.3%, with its most recent ex-dividend date on September 22, 2026.

Wall Street coverage consists of 1 Strong Buy, 1 Buy, and 5 Hold ratings. The mean price target of $12.04 implies upside of 57.6% from the last close of $7.64. For the fiscal year ending December 31, 2026, analysts estimate EPS of $1.23, representing 37.9% growth, on revenue of $205.5M. The company beat EPS estimates in 3 of the last 4 quarters, and its next earnings date is scheduled for November 4, 2026.

This page is an AI-written research summary of New York Mortgage Trust, Inc. (ADAM). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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