Adamas Trust (NASDAQ:ADAM) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Adamas Trust to “Buy” from “Hold,” although the broader analyst consensus remains “Hold” with an average price target of $9.50.
• Adamas Trust reported quarterly EPS of $0.30, beating estimates of $0.25, while revenue of $47.92 million also exceeded expectations of $47.50 million.
• The stock opened at $9.07, with a market capitalization of approximately $815 million; institutional investors own 54.89% of outstanding shares.

Adamas Trust (NASDAQ:ADAM - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other research analysts have also recently weighed in on ADAM. B. Riley Financial cut Adamas Trust from a "buy" rating to a "neutral" rating and set a $9.50 price target for the company. in a research report on Thursday, April 30th. JonesTrading raised their price objective on shares of Adamas Trust from $9.50 to $10.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Adamas Trust in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Adamas Trust currently has an average rating of "Hold" and a consensus price target of $9.50.

Adamas Trust Price Performance

NASDAQ ADAM opened at $9.07 on Friday. The company has a fifty day moving average of $9.07. The firm has a market capitalization of $815.03 million, a P/E ratio of 5.40 and a beta of 1.16. 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 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 EPS for the quarter, beating 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 business had revenue of $47.92 million during the quarter, compared to analysts' expectations of $47.50 million. On average, research analysts expect that Adamas Trust will post 1.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ADAM. Public Employees Retirement System of Ohio purchased a new stake in shares of Adamas Trust in the fourth quarter valued at $28,000. Atwood & Palmer Inc. acquired a new stake in Adamas Trust in the 4th quarter worth about $29,000. Kestra Advisory Services LLC acquired a new stake in Adamas Trust in the 4th quarter worth about $31,000. PNC Financial Services Group Inc. purchased a new stake in Adamas Trust in the 4th quarter valued at about $42,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in Adamas Trust in the 1st quarter valued at about $60,000. Hedge funds and other institutional investors own 54.89% of the company's stock.

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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