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Adamas Trust: Mortgage REIT Preferred Share Floating At 10.8% Yield

Adamas Trust (ADAM) offers a compelling 10.8% yield on its ADAMM preferred shares, standing out among its nine income options. Despite steady net interest income growth and expanding the investment portfolio, ADAM faces heightened leverage and liquidity risks if rates rise. I remain cautious on ADAM common shares due to persistent book value declines and a history of dividend cuts.

Seeking Alpha • Jan 20, 2026

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