NEW YORK (AP) — NEW YORK (AP) — Adamas Trust, Inc. (ADAM) on Wednesday reported second-quarter net income of $55.2 million, after reporting a loss in the same period a year earlier.
The New York-based company said it had profit of 47 cents per share. Earnings, adjusted for non-recurring gains, were 30 cents per share.
The real estate investment trust posted revenue of $174.4 million in the period. Its adjusted revenue was $50.2 million.
Adamas Trust shares have increased 18% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.65, a climb of 27% in the last 12 months.
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