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

Key Points

• Analysts hold a “Moderate Buy” consensus on Adamas Trust, with one buy, one strong buy and three hold ratings. The average 12-month price target is $9.50, compared with the stock’s recent price of $9.07.
• Adamas Trust beat quarterly expectations, reporting $0.30 in EPS versus the $0.25 consensus and revenue of $47.92 million versus $47.50 million expected.
• The company increased its quarterly dividend to $0.27, equivalent to an annualized $1.08 payout and an 11.9% yield; institutional investors and hedge funds own 54.89% of the stock.

Shares of Adamas Trust, Inc. (NASDAQ:ADAM - Get Free Report) have earned a consensus rating 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 assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $9.50.

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

Hedge Funds Weigh In On Adamas Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp bought a new position in Adamas Trust during the fourth quarter valued at about $24,607,000. Invesco Ltd. bought a new stake in shares of Adamas Trust in the 4th quarter worth approximately $23,172,000. Geode Capital Management LLC acquired a new stake in Adamas Trust during the fourth quarter valued at approximately $15,702,000. Charles Schwab Investment Management Inc. bought a new stake in Adamas Trust during the fourth quarter worth approximately $13,039,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Adamas Trust in the fourth quarter valued at $4,258,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

Adamas Trust Price Performance

NASDAQ:ADAM opened at $9.07 on Friday. The firm has a 50 day moving average price of $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. The firm has a market capitalization of $815.03 million, a price-to-earnings ratio of 5.40 and a beta of 1.16. Adamas Trust has a 1-year low of $6.16 and a 1-year high of $9.59.

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

Adamas Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 23rd were paid a $0.27 dividend. The ex-dividend date was Tuesday, June 23rd. This is an increase from Adamas Trust's previous quarterly dividend of $0.23. This represents a $1.08 dividend on an annualized basis and a yield of 11.9%. Adamas Trust's payout ratio is presently 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.

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