Adamas Trust (NASDAQ:ADAM) Stock Gets Price Target Trim from Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods lowered Adamas Trust’s price target from $9.25 to $8.50 while maintaining a “market perform” rating, implying 23.82% potential upside from the prior close.
• Analyst sentiment remains cautious: one analyst rates the stock a Buy and five rate it Hold, producing a consensus “Hold” rating and average price target of $9.25.
• ADAM shares fell 4.4% to $6.87, near the company’s $6.55 one-year low; institutional investors own 54.89% of the stock, with BlackRock among recent major investors.

Adamas Trust (NASDAQ:ADAM - Get Free Report) had its target price decreased by equities research analysts at Keefe, Bruyette & Woods from $9.25 to $8.50 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods's price target points to a potential upside of 23.82% from the company's previous close.

ADAM has been the subject of several other research reports. Wall Street Zen cut shares of Adamas Trust from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Weiss Ratings restated a "hold (c)" rating on shares of Adamas Trust in a report on Monday, October 19th. JonesTrading decreased their price target on Adamas Trust from $10.00 to $9.50 and set a "buy" rating for the company in a report on Thursday. UBS Group raised their price objective on Adamas Trust from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Wednesday, August 19th. Finally, Zacks Research lowered shares of Adamas Trust from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 28th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $9.25.

Adamas Trust Stock Down 4.4%

Shares of ADAM traded down $0.32 during trading hours on Friday, hitting $6.87. The company had a trading volume of 165,270 shares, compared to its average volume of 849,420. Adamas Trust has a one year low of $6.55 and a one year high of $10.36. The company's fifty day moving average price is $8.53 and its two-hundred day moving average price is $8.55. The company has a current ratio of 18.54, a quick ratio of 18.54 and a debt-to-equity ratio of 11.89. The company has a market capitalization of $617.03 million, a PE ratio of -12.08 and a beta of 1.22.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Adamas Trust had a negative net margin of 0.26% and a positive return on equity of 15.00%. The company had revenue of ($119.44) million for the quarter. As a group, equities analysts forecast that Adamas Trust will post 1.20 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adamas Trust

A number of hedge funds and other institutional investors have recently modified their holdings of ADAM. BlackRock Inc. purchased a new position in Adamas Trust during the second quarter valued at approximately $127,863,000. Bessemer Group Inc. boosted its stake in shares of Adamas Trust by 48,152.5% during the 1st quarter. Bessemer Group Inc. now owns 530,778 shares of the company's stock valued at $3,907,000 after buying an additional 529,678 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Adamas Trust during the 2nd quarter valued at $4,657,000. Bank of America Corp DE acquired a new position in shares of Adamas Trust in the second quarter worth $3,461,000. Finally, Legal & General Group Plc acquired a new position in shares of Adamas Trust in the second quarter worth $1,892,000. 54.89% of the stock is currently owned by institutional investors.

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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