Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 232

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 232
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Unrealized losses, net on equity investments (2)3,352 419 4,450 6,588 Impairment of real estate3,913 4,071 7,818 40,319 Loss on reclassification of disposal group— — — 14,636 Other (gains) losses (3)(548)(1,607)(1,323)2,009 Depreciation and amortization of operating real estate5,928 12,235 11,823 24,811 Non-cash expenses (4)2,561 2,374 4,759 4,501 Transaction expenses (5)1,340 4,917 7,658 8,462 Income tax effect of adjustments(173)342 313 68 EAD adjustments attributable to non-controlling interests(2,647)(5,555)(6,674)(22,783)Earnings available for distribution attributable to Company's common stockholders$20,024 $7,990 $38,217 $10,110 Weighted average shares outstanding - basic90,324 90,989 90,453 91,053 GAAP net (loss) income attributable to Company's common stockholders per common share - basic$(0.04)$(0.29)$0.30 $(1.04)EAD per common share - basic$0.22 $0.09 $0.42 $0.11 

(1)Excludes net interest benefit of interest rate swaps of approximately $3.7 million and $8.3 million for the three months ended June 30, 2025 and 2024, respectively, and $6.8 million and $16.6 million for the six months ended June 30, 2025 and 2024, respectively. Also excludes TBA dollar roll income of approximately $7.0 thousand for the three and six months ended June 30, 2025.

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(2)Included in income from equity investments on the Company's condensed consolidated statements of operations.

(3)Included in other income on the Company's condensed consolidated statements of operations and primarily includes non-recurring items such as gains (losses) on sales of real estate, gains (losses) on de-consolidation, gains (losses) on extinguishment of debt, preferred equity premiums resulting from early redemption, property loss