Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 115

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 115
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, that our Board of Directors uses to determine the amount, if any, of dividends on our common stock. Other factors that our Board of Directors may consider when determining the amount, if any, of dividends on our common stock include, among others,  our earnings and financial condition, capital requirements, maintenance of our REIT qualification, restrictions on making distributions under Maryland law and such other factors as our Board of Directors deems relevant. EAD should not be considered as an indication of our REIT taxable income, a guaranty of our ability to pay dividends, or as a proxy for the amount of dividends we may pay, as EAD excludes certain items that impact our liquidity. 

101

A reconciliation of GAAP net income (loss) attributable to Company's common stockholders to EAD for the three months ended March 31, 2025 and 2024, respectively, is presented below (amounts in thousands, except per share data):

For the Three Months Ended March 31,20252024GAAP net income (loss) attributable to Company's common stockholders$30,285 $(68,340)Adjustments:Realized losses, net41,100 10,533 Unrealized (gains) losses, net(118,203)39,390 Losses (gains) on derivative instruments, net (1)49,914 (40,879)Unrealized losses, net on equity investments (2)1,098 6,169 Impairment of real estate3,905 36,247 Loss on reclassification of disposal group— 14,636 Other (gains) losses (3)(775)3,616 Depreciation and amortization of operating real estate5,895 12,576 Non-cash expenses (4)2,199 2,127 Transaction expenses (5)6,317 3,545 Income tax effect of adjustments486 (274)EAD adjustments attributable to non-controlling interests(4,027)(17,229)Earnings available for distribution attributable to Company's common stockholders$18,194 $2,117 Weighted average shares outstanding - basic90,583 91,117 GAAP net income (loss) attributable to Company's common stockholders per common share - basic$0.33 $(0.75)EAD per common share - basic$0.20 $0.02 

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