Adamas Trust, Inc.

AI-generated fair value estimate for this company.

Method: Dividend discount / perpetuity model: $25 liquidation preference, 7.00% fixed cumulative dividend ($1.75/yr), no stated maturity, discounted at a 9.6% required yield

Reasoning: Cumulative redeemable perpetual preferred of Adamas Trust (formerly New York Mortgage Trust); the 9.6% required yield is drawn from current trading yields of comparable mortgage-REIT cumulative preferred peers in a ~5% 10Y-UST environment; capitalizing the fixed $1.75 dividend at that yield gives the fair value of a security whose payout never grows