Adamas Trust (NASDAQ:ADAM) Stock Rating Upgraded by Wall Street Zen

Adamas Trust (NASDAQ:ADAM) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other research analysts have also recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Adamas Trust in a report on Tuesday, July 21st. 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. Finally, B. Riley Financial lowered shares of 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Adamas Trust Price Performance

ADAM opened at $9.07 on Friday. The stock’s 50 day moving average is $9.07. The company has a current ratio of 18.54, a quick ratio of 17.70 and a debt-to-equity ratio of 11.89. Adamas Trust has a 1 year low of $6.16 and a 1 year high of $9.59. The company has a market cap of $815.03 million, a price-to-earnings ratio of 5.40 and a beta of 1.17.

Adamas Trust (NASDAQ:ADAM) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%.The business had revenue of $47.92 million for the quarter, compared to analysts’ expectations of $47.50 million. As a group, sell-side analysts anticipate that Adamas Trust will post 1.2 EPS for the current year.

Institutional Investors Weigh In On Adamas Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in shares of Adamas Trust during the fourth quarter valued at approximately $28,000. Atwood & Palmer Inc. purchased a new stake in Adamas Trust in the fourth quarter worth $29,000. Kestra Advisory Services LLC purchased a new stake in Adamas Trust in the fourth quarter worth $31,000. PNC Financial Services Group Inc. bought a new stake in Adamas Trust in the fourth quarter valued at $42,000. Finally, Hillsdale Investment Management Inc. bought a new stake in Adamas Trust in the first quarter valued at $60,000. Hedge funds and other 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.