Adamas Trust, Inc.

AI-generated fair value estimate for this company.

Method: Callable floating-rate preferred priced near call value: current quarterly dividend of $0.6672255 (~10.68% annualized on the $25 par) shows the fixed-rate period has ended and the dividend now floats well above the issuer's ~9.3% required yield; since the issuer can redeem the shares at $25.00 par at its option, fair value is capped near par plus a small premium for the above-market coupon likely to persist until redemption

Reasoning: ADAMM is Adamas Trust Inc's 7.875% Series E Fixed-to-Floating Cumulative Redeemable Preferred Stock, which has converted to a floating dividend materially above the market-required yield for this REIT's preferred stack; a plain perpetuity DDM would overstate value because the call feature caps upside, making a near-par valuation more defensible