NEW YORK (AP) 鈥� NEW YORK (AP) 鈥� Adamas Trust, Inc. (ADAM) on Wednesday reported first-quarter profit of $48.6 million.
The New York-based company said it had profit of 40 cents per share. Earnings, adjusted for non-recurring gains, came to 29 cents per share.
The real estate investment trust posted revenue of $172.1 million in the period. Its adjusted revenue was $48.4 million.
Adamas Trust shares have climbed 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.75, a rise of 32% in the last 12 months.
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