Adamas Trust (NASDAQ:ADAM) Hits New 12-Month High - Should You Buy?

Key Points

• Adamas Trust shares reached a new 52-week high of $9.59 and last traded near $9.51, supported by upward-trending 50- and 200-day moving averages.
• Analyst sentiment is mixed but leans positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $9.50; JonesTrading raised its target to $10.
• The company beat quarterly earnings and revenue estimates, while increasing its quarterly dividend to $0.27, implying a 11.4% annualized yield. Institutional investors and hedge funds own 54.89% of the stock.

Adamas Trust, Inc. (NASDAQ:ADAM - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $9.59 and last traded at $9.5050, with a volume of 433799 shares changing hands. The stock had previously closed at $9.44.

Analysts Set New Price Targets

A number of analysts recently weighed in on ADAM shares. Zacks Research upgraded shares of Adamas Trust from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. B. Riley Financial lowered shares of Adamas Trust from a "buy" rating to a "neutral" rating and set a $9.50 price objective on the stock. in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Adamas Trust in a report on Tuesday, July 21st. JonesTrading increased their target price on shares of Adamas Trust from $9.50 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Adamas Trust from a "hold" rating to a "buy" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.50.

Adamas Trust Price Performance

The company has a debt-to-equity ratio of 11.89, a current ratio of 18.54 and a quick ratio of 17.70. The company has a 50 day moving average price of $9.08 and a 200 day moving average price of $8.45. The firm has a market cap of $854.57 million, a PE ratio of 5.66 and a beta of 1.17.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $47.92 million for the quarter, compared to analyst estimates of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. Sell-side analysts expect that Adamas Trust, Inc. will post 1.2 EPS for the current fiscal year.

Adamas Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 23rd were paid a $0.27 dividend. This is a boost from Adamas Trust's previous quarterly dividend of $0.23. The ex-dividend date was Tuesday, June 23rd. This represents a $1.08 annualized dividend and a dividend yield of 11.4%. Adamas Trust's dividend payout ratio (DPR) is 64.29%.

Institutional Inflows and Outflows

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

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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