Adamas Trust (NASDAQ:ADAM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Adamas Trust (NASDAQ:ADAMFree Report) from a hold rating to a buy rating in a research report report published on Saturday.

Several other equities analysts have also issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a report on Tuesday, July 21st. JonesTrading lifted their price target on Adamas Trust from $9.50 to $10.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, B. Riley Financial cut Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price objective on the stock. in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

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Adamas Trust Stock Up 4.1%

Adamas Trust stock opened at $9.44 on Friday. Adamas Trust has a fifty-two week low of $6.45 and a fifty-two week high of $9.59. The stock has a market cap of $848.28 million, a PE ratio of 5.62 and a beta of 1.17. The firm’s 50-day simple moving average is $9.08 and its 200 day simple moving average is $8.45. The company has a debt-to-equity ratio of 11.89, a quick ratio of 17.70 and a current ratio of 18.54.

Adamas Trust (NASDAQ:ADAMGet Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $47.92 million during the quarter, compared to the consensus estimate of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. Research analysts predict that Adamas Trust will post 1.2 EPS for the current fiscal year.

Adamas Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Tuesday, June 23rd were issued a $0.27 dividend. This is a boost from Adamas Trust’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 11.4%. Adamas Trust’s payout ratio is presently 64.29%.

Hedge Funds Weigh In On Adamas Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC bought a new stake in shares of Adamas Trust in the first quarter valued at $233,000. Royal Bank of Canada grew its stake in shares of Adamas Trust by 2.9% during the 1st quarter. Royal Bank of Canada now owns 43,261 shares of the company’s stock worth $318,000 after acquiring an additional 1,214 shares during the period. Quantinno Capital Management LP increased its holdings in Adamas Trust by 39.2% in the 1st quarter. Quantinno Capital Management LP now owns 106,208 shares of the company’s stock worth $782,000 after acquiring an additional 29,905 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Adamas Trust in the 1st quarter worth about $446,000. Finally, Sei Investments Co. raised its stake in Adamas Trust by 16.9% in the 1st quarter. Sei Investments Co. now owns 161,524 shares of the company’s stock valued at $1,189,000 after acquiring an additional 23,404 shares during the period. 54.89% of the stock is owned by institutional investors.

Adamas Trust Company Profile

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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.

Further Reading

Analyst Recommendations for Adamas Trust (NASDAQ:ADAM)

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