Adamas Trust (NASDAQ:ADAM) Stock Price Down 2.6% - Time to Sell?

Key Points

• Adamas Trust shares fell 2.6% on Friday, trading as low as $8.91 and last changing hands at $8.98, slightly below the prior close of $9.22.
• The company beat first-quarter earnings and revenue estimates, reporting $0.29 EPS versus $0.24 expected and revenue of $45.81 million versus $40.00 million anticipated.
• Adamas Trust raised its quarterly dividend to $0.27 per share, implying a 12.0% annualized yield, though its payout ratio is high at 92.31%.

Adamas Trust, Inc. (NASDAQ:ADAM - Get Free Report)'s stock price traded down 2.6% during mid-day trading on Friday . The stock traded as low as $8.91 and last traded at $8.98. Approximately 848,799 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 867,845 shares. The stock had previously closed at $9.22.

Analyst Ratings Changes

ADAM has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Adamas Trust from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, April 24th. B. Riley Financial lowered 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. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $9.33.

Adamas Trust Stock Down 2.6%

The company has a debt-to-equity ratio of 11.91, a current ratio of 17.69 and a quick ratio of 17.70. The company's fifty day simple moving average is $9.08. The company has a market capitalization of $806.94 million, a P/E ratio of 7.68 and a beta of 1.16.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The business had revenue of $45.81 million for the quarter, compared to analyst estimates of $40.00 million. Adamas Trust had a net margin of 24.14% and a return on equity of 14.29%. Analysts predict that Adamas Trust, Inc. will post 1.05 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 23rd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 12.0%. This is a boost from Adamas Trust's previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, June 23rd. Adamas Trust's dividend payout ratio (DPR) is presently 92.31%.

Institutional Trading of Adamas Trust

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new position in shares of Adamas Trust in the fourth quarter valued at approximately $65,000. Yousif Capital Management LLC bought a new stake in Adamas Trust during the 4th quarter worth approximately $166,000. State of Alaska Department of Revenue bought a new stake in Adamas Trust during the 4th quarter worth approximately $307,000. CWM LLC acquired a new stake in Adamas Trust during the 4th quarter valued at $73,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Adamas Trust during the 4th quarter valued at $127,000. Institutional investors and hedge funds own 54.89% of the company's stock.

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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