Adamas Trust (NASDAQ:ADAM – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.
ADAM has been the subject of several other reports. JonesTrading decreased their target price on shares of Adamas Trust from $10.00 to $9.50 and set a “buy” rating for the company in a research note on Thursday, October 29th. UBS Group lifted their price target on shares of Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 19th. Weiss Ratings lowered shares of Adamas Trust from a “hold (c)” rating to a “sell (d)” rating in a report on Tuesday, November 3rd. Zacks Research lowered shares of Adamas Trust from a “hold” rating to a “strong sell” rating in a report on Friday, October 30th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Adamas Trust from $9.25 to $8.50 and set a “market perform” rating for the company in a research report on Friday, October 30th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Adamas Trust currently has an average rating of “Reduce” and a consensus price target of $9.25.
Check Out Our Latest Analysis on Adamas Trust
Adamas Trust Price Performance
NASDAQ ADAM opened at $5.69 on Friday. The stock has a market cap of $513.86 million, a PE ratio of -9.98 and a beta of 1.27. Adamas Trust has a fifty-two week low of $5.67 and a fifty-two week high of $10.36. The business has a 50 day moving average price of $8.07 and a two-hundred day moving average price of $8.48. The company has a quick ratio of 19.06, a current ratio of 19.06 and a debt-to-equity ratio of 16.02.
Adamas Trust (NASDAQ:ADAM – Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The company had revenue of ($119.44) million during the quarter. Adamas Trust had a negative net margin of 0.26% and a positive return on equity of 15.77%. As a group, sell-side analysts predict that Adamas Trust will post 1.19 EPS for the current fiscal year.
Institutional Trading of Adamas Trust
Several institutional investors have recently added to or reduced their stakes in ADAM. Public Employees Retirement System of Ohio bought a new position in shares of Adamas Trust in the 2nd quarter worth about $34,000. Nykredit A S acquired a new position in shares of Adamas Trust in the 2nd quarter valued at about $36,000. Integrated Wealth Concepts LLC acquired a new position in shares of Adamas Trust in the 2nd quarter valued at about $48,000. Hillsdale Investment Management Inc. acquired a new position in shares of Adamas Trust in the 1st quarter valued at about $60,000. Finally, GAMMA Investing LLC grew its position in shares of Adamas Trust by 26.1% during the 3rd quarter. GAMMA Investing LLC now owns 9,974 shares of the company’s stock valued at $78,000 after buying an additional 2,065 shares during the last quarter. Institutional investors own 54.89% of the company’s stock.
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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