Adamas Trust posts $1.89 per share GAAP loss in Q3 as book value falls 21.9%
Adamas Trust reported a third-quarter 2026 GAAP net loss attributable to the company of $159.1 million, or $1.89 per basic share, as book value per share fell 21.9% to $7.93, which management said was primarily driven by lower valuations of Agency mortgage securities amid rising rates and volatility. Earnings available for distribution rose 25% year over year to $0.30 per share, and the company declared a $0.30 common dividend, up 11.1% from the prior quarter. The mixed results matter to shareholders because the GAAP loss and falling book value weigh against higher distributable earnings and a larger dividend.
Key points
- GAAP basic loss per share of $1.89; net loss attributable to the company of $159.1 million for the quarter
- Earnings available for distribution of $0.30 per share, up 25% year over year; quarterly economic return of (19.00)%
- Book value per share of $7.93, down 21.9% quarter over quarter; adjusted book value per share of $8.88, down 19.6%
- Common stock dividend raised to $0.30 per share, an 11.1% increase quarter over quarter
The filing
Written by AI on Nov 7, 2026, 11:17 PM ET, from this filing only.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.