Adamas Trust, Inc. (NASDAQ:ADAM) Receives Average Rating of “Moderate Buy” from Brokerages

Adamas Trust, Inc. (NASDAQ:ADAM) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.50.

ADAM has been the topic of a number of research reports. B. Riley Financial cut shares of Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 target price on the stock. in a research note on Thursday, April 30th. Zacks Research raised Adamas Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded Adamas Trust from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. Finally, JonesTrading increased their target price on Adamas Trust from $9.50 to $10.00 and gave the stock a “buy” rating in a report on Thursday, July 30th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC purchased a new position in Adamas Trust during the fourth quarter valued at $2,905,000. New York State Teachers Retirement System bought a new stake in Adamas Trust in the fourth quarter worth $940,000. Bessemer Group Inc. raised its position in shares of Adamas Trust by 48,152.5% in the 1st quarter. Bessemer Group Inc. now owns 530,778 shares of the company’s stock worth $3,907,000 after purchasing an additional 529,678 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Adamas Trust in the 4th quarter worth about $1,540,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Adamas Trust in the 1st quarter worth about $446,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

Adamas Trust Trading Up 3.2%

Shares of Adamas Trust stock opened at $9.82 on Friday. The company has a market capitalization of $882.62 million, a price-to-earnings ratio of 5.85 and a beta of 1.17. The company has a quick ratio of 17.70, a current ratio of 18.54 and a debt-to-equity ratio of 11.89. Adamas Trust has a 12-month low of $6.45 and a 12-month high of $9.92. The firm’s 50-day moving average price is $9.11 and its two-hundred day moving average price is $8.48.

Adamas Trust (NASDAQ:ADAM) last issued its 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. The company had revenue of $47.92 million during the quarter, compared to analysts’ expectations of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. On average, analysts forecast that Adamas Trust will post 1.2 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.27 per share. The ex-dividend date was Tuesday, June 23rd. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.23. This represents a $1.08 annualized dividend and a yield of 11.0%. Adamas Trust’s dividend payout ratio is currently 64.29%.

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.