ADAMAS TRUST, INC.
Adamas Trust, Inc. (NASDAQ: NYMT) operates as an internally-managed real estate investment trust focused on strategically deploying capital across complementary businesses in residential mortgage and credit markets. The company's website is www.adamasreit.com. From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What ADAMAS TRUST, INC. does
In the company’s own words
Adamas Trust, Inc. (NASDAQ: NYMT) operates as an internally-managed real estate investment trust focused on strategically deploying capital across complementary businesses in residential mortgage and credit markets. The company's website is www.adamasreit.com.
The firm maintains two primary operating segments: an investment portfolio and Constructive, a wholly-owned business purpose loan originator. The investment portfolio generates the substantial majority of revenues through interest income and net income from real estate investments, while Constructive contributes revenues from loan origination and sales activities. On July 15, 2025, Adamas completed acquisition of the remaining fifty percent interest in Constructive, achieving full ownership of the business purpose loan originator that operates across forty-eight states.
Adamas' investment strategy emphasizes a diversified portfolio of mortgage-related single-family residential assets containing elements of credit and interest rate risk. The portfolio comprises Agency residential mortgage-backed securities, residential loans including business purpose bridge and rental loans, non-Agency RMBS, and multi-family credit investments structured as preferred equity and mezzanine lending arrangements. The company also owns four hundred seventy-one single-family rental properties participating in the U.S. Department of Housing and Urban Development Housing Choice Vouchers program, primarily located in Illinois and Maryland.
The company employs two hundred twenty-one full-time employees as of December 31, 2025, with one hundred sixty employees, representing seventy-two percent of the workforce, directly engaged in Constructive operations. Staff are distributed across offices in New York, Charlotte, Woodland Hills, and Oakbrook Terrace, with certain employees working remotely.
Adamas finances its assets through a combination of short-term and long-term repurchase agreements and structured financings including securitizations and senior and subordinated debt. The company maintains maximum leverage ratios of fifteen-to-one for liquid Agency securities, between one-to-one and four-to-one for illiquid assets, and eight-to-one for residential loans, with a target total debt leverage ratio not exceeding six-to-one. As of December 31, 2025, the company's recourse leverage ratio was approximately five-to-one.
Company details
- Sector
- Real Estate
- Industry
- REITs
- Headquarters
- NEW YORK, NY
- Fiscal year end
- December
- CIK
- 1273685
- SIC
- 6798
Financial performance, year by year
Fiscal 2013–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns ADAMAS TRUST, INC. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · ADAMAS TRUST, INC.’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
ADAMAS TRUST, INC.’s bonds, as funds hold them
Funds report holding 1 issues of ADAMAS TRUST, INC.’s debt, $0.48M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 9.13%, maturing 2029 to 2029.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
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