Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 179

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 179
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sequent Events

•In April 2025, the Company repurchased 231,200 shares of its common stock pursuant to the common stock repurchase program for a total cost of approximately $1.5 million, including fees and commissions paid to the broker, representing an average repurchase price of $6.50 per common share.

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Capital Allocation

The following provides an overview of the allocation of our total equity as of March 31, 2025 and December 31, 2024, respectively.  We fund our investing and operating activities with a combination of cash flow from operations, proceeds from common and preferred equity and debt securities offerings, including senior unsecured notes and subordinated debentures, short-term and longer-term repurchase agreements and CDOs. A detailed discussion of our liquidity and capital resources is provided in “Liquidity and Capital Resources” elsewhere in this section.

The following tables set forth our allocated capital by investment category at March 31, 2025 and December 31, 2024, respectively (dollar amounts in thousands). 

At March 31, 2025:

 Single-FamilyMulti-FamilyCorporate/OtherTotalResidential loans$3,913,268 $— $— $3,913,268 Consolidated SLST CDOs(805,273)— — (805,273)Investment securities available for sale4,622,507 — 24,305 4,646,812 Multi-family loans— 87,222 — 87,222 Equity investments— 54,362 39,637 93,999 Equity investments in consolidated multi-family properties (1)— 154,234 — 154,234 Equity investments in disposal group held for sale (2)— 19,906 — 19,906 Single-family rental properties140,116 — — 140,116 Mortgage servicing rights20,297 — — 20,297 Total investment portfolio carrying value7,890,915 315,724 63,942 8,270,581 Liabilities:Repurchase agreements(4,461,543)— (24,173)(4,485,716)Collateralized debt obligationsResidential loan securitization CDOs(2,312,026)— — (2,312,026)Non-Agency RMBS re-securitization(69,