Adamas Trust (NASDAQ:ADAM) Earns Neutral Rating from B. Riley Financial

Key Points

• B. Riley Financial reaffirmed a "neutral" rating on Adamas Trust (NASDAQ:ADAM) with a $9.50 target implying about a 4.8% upside, while the consensus across analysts is a Hold with a $9.33 average price target (1 Buy, 3 Holds).
• Adamas Trust beat the quarter's estimates, reporting $0.29 EPS vs. $0.24 expected and revenue of $48.41M vs. $40.0M expected, with ROE of 13.52% and a net margin of 24.76%.
• The stock traded at $9.07 on heavy volume (2.58M vs. avg. 704K), the company has a market cap of about $814.6M with a PE of 8.23, and roughly 54.9% of shares are held by institutional investors.

Adamas Trust (NASDAQ:ADAM - Get Free Report)'s stock had its "neutral" rating reaffirmed by research analysts at B. Riley Financial in a research report issued on Thursday, Marketbeat reports. They currently have a $9.50 target price on the stock. B. Riley Financial's price target points to a potential upside of 4.80% from the company's current price.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods lifted their price objective on Adamas Trust from $8.25 to $9.00 and gave the company a "market perform" rating in a research note on Friday, February 20th. JonesTrading lifted their price objective on Adamas Trust from $7.50 to $9.50 and gave the company a "buy" rating in a research note on Friday, February 20th. Finally, Weiss Ratings raised Adamas Trust from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $9.33.

Adamas Trust Price Performance

NASDAQ:ADAM traded up $1.32 during mid-day trading on Thursday, reaching $9.07. The company's stock had a trading volume of 2,581,754 shares, compared to its average volume of 704,161. The stock's fifty day moving average price is $7.81. The company has a debt-to-equity ratio of 12.03, a quick ratio of 14.17 and a current ratio of 14.16. Adamas Trust has a twelve month low of $6.09 and a twelve month high of $9.32. The company has a market cap of $814.59 million, a PE ratio of 8.23 and a beta of 1.08.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.05. Adamas Trust had a return on equity of 13.52% and a net margin of 24.76%.The firm had revenue of $48.41 million for the quarter, compared to analyst estimates of $40.00 million. Sell-side analysts expect that Adamas Trust will post 1 EPS for the current fiscal year.

Institutional Investors Weigh In On Adamas Trust

Several hedge funds have recently modified their holdings of ADAM. Nisa Investment Advisors LLC purchased a new stake in shares of Adamas Trust during the 4th quarter valued at about $65,000. Yousif Capital Management LLC purchased a new stake in shares of Adamas Trust during the 4th quarter valued at about $166,000. State of Alaska Department of Revenue purchased a new stake in shares of Adamas Trust during the 4th quarter valued at about $307,000. CWM LLC purchased a new stake in shares of Adamas Trust during the 4th quarter valued at about $73,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Adamas Trust during the 4th quarter valued at about $127,000. 54.89% of the stock is currently owned by hedge funds and other institutional investors.

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.

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