Renaissance Technologies LLC reduced its position in Adamas Trust, Inc. (NASDAQ:ADAM – Free Report) by 64.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 64,750 shares of the company’s stock after selling 116,517 shares during the period. Renaissance Technologies LLC’s holdings in Adamas Trust were worth $477,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership purchased a new stake in Adamas Trust during the first quarter worth $446,000. Sei Investments Co. grew its holdings in Adamas Trust by 16.9% in the first quarter. Sei Investments Co. now owns 161,524 shares of the company’s stock valued at $1,189,000 after purchasing an additional 23,404 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Adamas Trust by 48,152.5% in the first quarter. Bessemer Group Inc. now owns 530,778 shares of the company’s stock valued at $3,907,000 after buying an additional 529,678 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Adamas Trust in the first quarter valued at $60,000. Finally, Principal Financial Group Inc. raised its stake in shares of Adamas Trust by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 408,275 shares of the company’s stock worth $3,005,000 after buying an additional 7,947 shares during the last quarter. 54.89% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently commented on ADAM shares. B. Riley Financial lowered shares of 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. Weiss Ratings restated a “hold (c)” rating on shares of Adamas Trust in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of Adamas Trust from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. JonesTrading upped their price target on shares of Adamas Trust from $9.50 to $10.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Zacks Research upgraded shares of Adamas Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.50.
Adamas Trust Stock Performance
NASDAQ ADAM opened at $10.12 on Tuesday. Adamas Trust, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $10.36. The stock has a market cap of $909.59 million, a price-to-earnings ratio of 6.02 and a beta of 1.17. The business has a fifty day moving average of $9.25 and a 200-day moving average of $8.55. The company has a quick ratio of 18.54, a current ratio of 18.54 and a debt-to-equity ratio of 11.89.
Adamas Trust (NASDAQ:ADAM – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $47.92 million for the quarter, compared to analyst estimates of $47.50 million. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%. As a group, analysts predict that Adamas Trust, Inc. will post 1.2 earnings per share for the current fiscal year.
Adamas Trust Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, September 22nd will be issued a $0.30 dividend. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 11.9%. Adamas Trust’s payout ratio is currently 64.29%.
Adamas Trust Company Profile
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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