Adamas Trust, Inc., trading on the Nasdaq Global Market under the ticker ADAMM, is drawing attention for a dividend yield of 10.22% following a corporate rebrand that took effect in September 2025. The company was known for more than two decades as New York Mortgage Trust before adopting its current name, a shift that first stood out in data tracked on Dividendly, a Madison Labs research site.
The numbers behind that yield are straightforward. Adamas Trust's most recent quarterly dividend was $0.6550 per share, which annualizes to $2.62. Against a recent share price of $25.64, up a fraction of a percent in a session where the stock traded between $25.55 and $25.68, that dividend rate produces the double-digit yield now associated with the ticker. Shares have traded in a 52-week range of $23.98 to $25.65, putting the current price near the top of that band. The company's market capitalization stood at roughly $660.12 million on approximately 25.74 million shares outstanding.
For income-focused investors, the appeal of a yield above 10% is obvious on its face, but the underlying coverage metrics matter just as much as the headline number. Adamas Trust's payout ratio, calculated against GAAP earnings per share, was 81.83%: a figure that leaves some cushion but is worth watching given that mortgage REITs typically distribute from cash flow and net investment income rather than reported GAAP earnings, a distinction the company itself notes in describing its REIT tax structure, which requires distributing at least 90% of taxable income to retain its tax-advantaged status. The dividend has recorded one consecutive annual increase, and the company has six years of dividend payments on record under its current and prior names, according to the payment history compiled on the discovered page. No dividend cut appears in that available record.
The rebrand itself is the backdrop for why this yield is getting fresh attention now. New York Mortgage Trust was incorporated in 2003 and built its business around agency and non-agency residential mortgage-backed securities, business purpose loans, multifamily preferred equity and joint-venture investments, and other credit-related assets. Under the Adamas Trust name, the company operates through two reporting segments: an Investment Portfolio segment holding the diversified mix of RMBS, residential and multifamily loans, and related credit investments, and a Constructive segment that functions as a business-purpose loan lender specializing in rental and transitional loans for real estate investors, including loan origination and sale activity. The company remains headquartered in New York City.
The renaming lands at a moment when rate-sensitive parts of the market are under pressure more broadly. On the day the ADAMM data was captured, several large-cap names tied to enterprise software, cloud infrastructure and alternative asset management were trading sharply lower, with Oracle down 5.3%, Palo Alto Networks down 5.2%, and Blackstone down 4.6%, alongside declines in names such as Intuit, Applied Materials, Palantir, ServiceNow and Union Pacific. Cryptocurrency markets showed similar softness, with Bitcoin down 2.1% and Ethereum down 4.0% over 24 hours. Mortgage REITs like Adamas Trust are structurally sensitive to the direction of interest rates and mortgage spreads, since their portfolios are financed with leverage and their book values move with rate expectations: a dynamic inherent to the business model the company describes in its own regulatory filings rather than a forecast about where rates are headed next.
Looking ahead, investors tracking Adamas Trust will likely focus on whether the payout ratio holds steady as earnings are reported, whether the single annual dividend increase on record becomes the start of a longer streak, and how the stock's price behaves relative to book value given the price-to-book metrics commonly used to assess REIT valuations. The company's most recent ex-dividend date was July 1, 2026, with payment made July 15, 2026, meaning the timing and size of the next declaration will be the next concrete data point for shareholders and prospective investors to watch. No forecast for that declaration has been made by the company as of this writing, and any expectations around future payments remain speculative until Adamas Trust discloses its next dividend decision.