Odyssean LLC Invests $822,000 in Adamas Trust, Inc. $ADAM

Odyssean LLC purchased a new position in shares of Adamas Trust, Inc. (NASDAQ:ADAM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 87,672 shares of the company’s stock, valued at approximately $822,000. Odyssean LLC owned about 0.10% of Adamas Trust as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Adamas Trust by 2.9% in 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 shares of Adamas Trust during the fourth quarter valued at approximately $28,000. Kestra Advisory Services LLC purchased a new position in shares of Adamas Trust in the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. purchased a new position in shares of Adamas Trust in the fourth quarter valued at approximately $42,000. Finally, Principal Financial Group Inc. lifted its position in shares of Adamas Trust by 2.0% in the first quarter. Principal Financial Group Inc. now owns 408,275 shares of the company’s stock valued at $3,005,000 after acquiring an additional 7,947 shares in the last quarter. 54.89% of the stock is owned by hedge funds and other institutional investors.

Adamas Trust Trading Down 0.7%

Shares of Adamas Trust stock opened at $9.77 on Thursday. The company has a debt-to-equity ratio of 11.89, a current ratio of 18.54 and a quick ratio of 18.54. The stock’s 50 day simple moving average is $9.36 and its 200-day simple moving average is $8.64. The stock has a market cap of $878.13 million, a P/E ratio of 5.82 and a beta of 1.17. Adamas Trust, Inc. has a 1-year low of $6.45 and a 1-year high of $10.36.

Adamas Trust (NASDAQ:ADAM) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%.The firm had revenue of $47.92 million during the quarter, compared to analysts’ expectations of $47.50 million. Analysts predict that Adamas Trust, Inc. will post 1.2 EPS for the current fiscal year.

Adamas Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, September 22nd will be paid a $0.30 dividend. This is a boost from Adamas Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.3%. Adamas Trust’s dividend payout ratio is 64.29%.

Analyst Ratings Changes

Several brokerages recently commented on ADAM. 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 research report on Thursday, April 30th. Wall Street Zen lowered Adamas Trust from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. UBS Group lifted their target price 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. JonesTrading upped their target price on shares of Adamas Trust from $9.50 to $10.00 and gave the stock 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 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.50.

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.