Odyssean LLC bought a new stake in Adamas Trust, Inc. (NASDAQ:ADAM – Free Report) during the 2nd quarter, Holdings Channel reports. The firm bought 87,672 shares of the company’s stock, valued at approximately $822,000.
Several other hedge funds have also made changes to their positions in the company. Royal Bank of Canada increased its holdings 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 buying an additional 1,214 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Adamas Trust in the fourth quarter valued at approximately $28,000. Kestra Advisory Services LLC acquired a new position in Adamas Trust in the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. acquired a new position in Adamas Trust in the fourth quarter valued at approximately $42,000. Finally, Principal Financial Group Inc. grew its position in Adamas Trust by 2.0% in the first quarter. Principal Financial Group Inc. now owns 408,275 shares of the company’s stock worth $3,005,000 after acquiring an additional 7,947 shares during the period. Hedge funds and other institutional investors own 54.89% of the company’s stock.
Adamas Trust Stock Performance
Shares of ADAM stock opened at $9.77 on Thursday. The company has a debt-to-equity ratio of 11.89, a quick ratio of 18.54 and a current ratio of 18.54. The firm has a market cap of $878.13 million, a P/E ratio of 5.82 and a beta of 1.17. The firm’s 50 day moving average price is $9.36 and its 200-day moving average price is $8.64. Adamas Trust, Inc. has a one year low of $6.45 and a one year high of $10.36.
Adamas Trust Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, September 22nd will be given a dividend of $0.30 per share. This is an increase from Adamas Trust’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 12.3%. The ex-dividend date is Tuesday, September 22nd. Adamas Trust’s dividend payout ratio (DPR) is 64.29%.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Adamas Trust in a research note on Tuesday, July 21st. Wall Street Zen lowered Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. B. Riley Financial cut Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price target for the company. in a report on Thursday, April 30th. JonesTrading raised their price objective on Adamas Trust from $9.50 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Zacks Research raised 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 four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.50.
Check Out Our Latest Analysis on ADAM
About Adamas Trust
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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