Adamas Trust, Inc. (NASDAQ:ADAM) to Issue Dividend Increase – $0.27 Per Share

Adamas Trust, Inc. (NASDAQ:ADAMGet Free Report) declared a quarterly dividend on Thursday, June 11th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of 0.27 per share on Tuesday, July 28th. This represents a c) dividend on an annualized basis and a yield of 11.9%. The ex-dividend date of this dividend is Tuesday, June 23rd. This is a 17.4% increase from Adamas Trust’s previous quarterly dividend of $0.23.

Adamas Trust Price Performance

Shares of NASDAQ:ADAM opened at $9.11 on Friday. The company has a market cap of $818.62 million, a P/E ratio of 7.79 and a beta of 1.17. The company has a debt-to-equity ratio of 11.91, a current ratio of 17.69 and a quick ratio of 17.70. The company has a fifty day simple moving average of $8.42. Adamas Trust has a 1 year low of $6.16 and a 1 year high of $9.32.

Adamas Trust (NASDAQ:ADAMGet Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $45.81 million during the quarter, compared to the consensus estimate of $40.00 million. Adamas Trust had a return on equity of 14.29% and a net margin of 24.14%. Sell-side analysts anticipate that Adamas Trust will post 1.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADAM. Keefe, Bruyette & Woods upped their price objective on Adamas Trust from $8.25 to $9.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. JonesTrading increased their price target on Adamas Trust from $7.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday, February 20th. B. Riley Financial downgraded Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price target for the company. in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded Adamas Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.33.

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Adamas Trust Company Profile

(Get Free Report)

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. Its targeted investments include residential loans, second mortgages, and business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties, as well as joint venture equity investments in multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgage, residential housing, and credit-related assets.

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