Adamas Trust (ADAM) Stock Outlook Supported by Increasing Agency RMBS Exposure

Core Viewpoint - Adamas Trust, Inc. (NASDAQ:ADAM) is identified as one of the most undervalued REIT stocks currently available for investment, with a Buy rating and a price target of $9 set by B. Riley [1] Group 1: Company Overview - Adamas Trust, Inc. is an internally managed REIT focused on acquiring, investing in, financing, and managing mortgage-related single-family and multi-family residential assets [3] Group 2: Financial Projections - B. Riley has provided forward adjusted EPS expectations of $0.90 for FY25, $1.00 for FY26, and $1.15 for FY27, indicating anticipated growth in the first three quarters of 2025 alongside increased mortgage acquisitions and lending [2] - The firm is optimistic that Adamas Trust shares will trade closer to GAAP book value as origination volumes increase, with a consistent exposure to agency RMBS and a quarterly dividend of $0.23 that appears to be well-covered [2] Group 3: Portfolio Composition - Adamas Trust's portfolio has been adjusted to include 63% Agency RMBS, suggesting that this growing percentage should command a higher multiple and premium compared to its peers [1]