Adamas Trust's (ADAM) "Buy" Rating Reiterated at JonesTrading

Key Points

• JonesTrading reaffirmed its “Buy” rating on Adamas Trust and set a $10 price target, implying 2.67% upside from the previous close.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $9.50, though four analysts rate the stock Hold.
• Adamas Trust exceeded quarterly expectations, reporting $0.30 EPS versus the $0.25 consensus and $47.92 million in revenue versus $47.50 million expected; institutional investors own 54.89% of its shares.

Adamas Trust (NASDAQ:ADAM - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at JonesTrading in a research note issued on Tuesday, Benzinga reports. They presently have a $10.00 price target on the stock. JonesTrading's price target indicates a potential upside of 2.67% from the company's previous close.

A number of other analysts have also recently commented on the stock. UBS Group upped their target price on shares of Adamas Trust from $8.50 to $9.50 and gave the company a "neutral" rating in a report on Wednesday, August 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Adamas Trust in a report on Tuesday, July 21st. Wall Street Zen lowered Adamas Trust from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Finally, Zacks Research raised Adamas Trust from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.50.

Adamas Trust Stock Performance

ADAM stock opened at $9.74 on Tuesday. Adamas Trust has a 12-month low of $6.45 and a 12-month high of $10.36. The stock's 50 day simple moving average is $9.40 and its 200 day simple moving average is $8.68. 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 stock has a market capitalization of $875.43 million, a PE ratio of 5.80 and a beta of 1.17.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) 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 the consensus estimate of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. As a group, research analysts forecast that Adamas Trust will post 1.2 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 bought and sold shares of ADAM. BlackRock Inc. acquired a new position in shares of Adamas Trust during the second quarter worth $127,863,000. State Street Corp acquired a new stake in shares of Adamas Trust in the 4th quarter worth $24,607,000. Invesco Ltd. purchased a new position in Adamas Trust during the 4th quarter worth $23,172,000. Geode Capital Management LLC acquired a new position in Adamas Trust during the 4th quarter valued at about $15,702,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in Adamas Trust during the 4th quarter valued at about $13,039,000. 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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