Adamas Trust, Inc. (NASDAQ:ADAM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Adamas Trust, Inc. (NASDAQ:ADAM) have received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $9.50.

ADAM has been the subject of several recent research reports. JonesTrading reiterated a “buy” rating and issued a $10.00 price objective on shares of Adamas Trust in a research report on Tuesday. Zacks Research upgraded shares of Adamas Trust from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a research note on Tuesday, July 21st. UBS Group upped their price target on shares of Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Wednesday, August 19th. Finally, Wall Street Zen cut shares of Adamas Trust from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th.

Institutional Trading of Adamas Trust

Large investors have recently modified their holdings 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. Kestra Advisory Services LLC bought a new position in Adamas Trust in the 4th quarter worth $31,000. Nykredit A S purchased a new stake in shares of Adamas Trust in the 2nd quarter worth about $36,000. PNC Financial Services Group Inc. purchased a new stake in shares of Adamas Trust in the 4th quarter worth about $42,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Adamas Trust during the 1st quarter valued at about $60,000. 54.89% of the stock is owned by institutional investors.

Adamas Trust Stock Down 1.3%

Shares of NASDAQ:ADAM opened at $9.61 on Wednesday. The stock’s 50-day moving average price is $9.41 and its 200-day moving average price is $8.69. Adamas Trust has a 12-month low of $6.45 and a 12-month high of $10.36. The stock has a market capitalization of $863.75 million, a P/E ratio of 5.72 and a beta of 1.18. The company has a current ratio of 18.54, a quick ratio of 18.54 and a debt-to-equity ratio of 11.89.

Adamas Trust (NASDAQ:ADAM) last released its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The company had revenue of $47.92 million during the quarter, compared to analyst estimates of $47.50 million. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%. On average, equities analysts anticipate that Adamas Trust will post 1.2 earnings per share for the current year.

Adamas Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, September 22nd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 12.5%. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 22nd. Adamas Trust’s payout ratio is currently 64.29%.

Adamas Trust Company Profile

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.