ADAM's Q1 2026 numbers make the rebrand worth a serious look: EAD covered the dividend, book value rose, and Constructive added origination muscle. The catch is that mortgage REIT math still runs through leverage, repo funding, securitization access, and book-value volatility.
Adamas Trust: the dividend looks covered, but the repo market gets a vote
NASDAQADAMCoverage BootstrapMortgage REIT
Thesis summary
ADAM's Q1 2026 numbers make the rebrand worth a serious look: EAD covered the dividend, book value rose, and Constructive added origination muscle. The catch is that mortgage REIT math still runs through leverage, repo funding, securitization access, and book-value volatility.
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