Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 251

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 251
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 COMPREHENSIVE INCOME4 1,966 (1,962)COMPREHENSIVE LOSS ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS$(103,781)$(88,069)$(15,712)

Beginning in the fourth quarter of 2019, the Company’s newly purchased investment securities are presented at fair value as a result of a fair value election made at the time of acquisition. Changes in the market values of investment securities where the Company elected the fair value option are reflected in earnings instead of in OCI. As of December 31, 2024, all of the Company's investment securities are accounted for using the fair value option.

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Analysis of Changes in GAAP Book Value

The following table analyzes the changes in GAAP book value of our common stock for the year ended December 31, 2024 (amounts in thousands, except per share):

Year Ended December 31, 2024AmountSharesPer Share(1)Beginning Balance$1,025,502 90,675 $11.31 Common stock issuance, net (2)6,068 487 Common stock repurchases(3,493)(587)Balance after share activity1,028,077 90,575 11.35 Adjustment of redeemable non-controlling interest to estimated redemption value(10,613)(0.12)Dividends and dividend equivalents declared(73,073)(0.81)Net change in accumulated other comprehensive loss: Investment securities available for sale (3)4 — Net loss attributable to Company's common stockholders(103,785)(1.14)Ending Balance$840,610 90,575 $9.28 

(1)Outstanding shares used to calculate book value per common share for the year ended December 31, 2024 are 90,574,996.

(2)Includes amortization of stock based compensation.

(3)The net increase relates to the reclassification of unrealized loss to net loss during the period.

The following table analyzes the changes in GAAP book value of our common stock for the year ended December 31, 2023 (amounts in thousands, except per share):

Year Ended December 31, 2023AmountSharesPer Share(1)Beginning Balance$1,210,091 91,194 $13.27 Common stock issuance, net (2)8,825 419 Common stock repurchases(8,