secwatch.observer — SEC 8-K summary
======================================

Issuer:     ADAMAS TRUST, INC. (ADAM)
CIK:        0001273685
Form:       8-K
Filed at:   2026-02-18T23:59:59+00:00
Accession:  0001273685-26-000027
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Adamas Trust Q4 net income $41.6M ($0.46 EPS); FY net income $101.1M; EAD per share $0.23
--------------------------------------------------------------------------------

- FY 2025 net income $101.1M ($1.12 EPS); Q4 net income $41.6M ($0.46 EPS).
- Earnings available for distribution (EAD) per share $0.23 (Q4) and $0.89 (FY).
- Portfolio expanded by $3.1B; quarterly EAD up 44% YoY; dividend raised 15%.
- Book value per share $9.60; adjusted book value $10.63; economic return on BV 12.72% for FY.
- Completed strategic acquisition of Constructive; CEO cites stronger recurring income and liquidity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1273685/000127368526000027/0001273685-26-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1273685/000127368526000027/nymt-20260218.htm
  HTML page:      https://secwatch.observer/filing/0001273685-26-000027

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer