Adamas Trust, Inc. 9.600% Senior Notes Due 2031

AI-generated fair value estimate for this company.

Method: Bond-pricing DCF to maturity: $25 par, 9.600% annual coupon ($2.40/yr), ~5 years remaining to the July 2031 maturity, discounted at an assumed 9.6% required yield (set equal to the stated coupon, consistent with this issuer's other senior notes trading close to par), PV of coupons plus PV of par redemption at maturity ≈ par

Reasoning: ADAMK is Adamas Trust Inc's 9.600% Senior Notes due 2031, a fixed-coupon dated debt instrument from the same ~$13B mortgage REIT issuer as ADAMI; absent specific evidence of mispricing, coupon-equals-required-yield is the most defensible assumption, implying intrinsic value near par