Adamas Trust offers a high-yield, discounted mortgage REIT turnaround built on vertical loan origination, improving dividend coverage, and a still-unrecognized book-value recovery story.
Overview
Adamas Trust, formerly New York Mortgage Trust, is an internally managed mortgage REIT focused on U.S. residential credit, Agency RMBS, non-Agency RMBS, CMBS, multifamily credit, and business purpose loans. Its two-engine model combines a large investment portfolio with Constructive’s direct origination platform. Revenue is driven by net interest spread income and realized portfolio gains. The company offers high dividend income, nationwide asset exposure, and a strategic push toward vertically sourced, higher-yielding residential credit assets.