Adamas Trust, Inc. (NASDAQ:ADAM) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts hold a consensus “Moderate Buy” rating on Adamas Trust, with four holds, one buy, and one strong buy. The average 12-month price target is $9.50, with targets ranging from $9.50 to $10.00 in recent reports.
• Adamas Trust exceeded quarterly expectations, reporting $0.30 earnings per share versus the $0.25 estimate and revenue of $47.92 million. The company also raised its quarterly dividend from $0.27 to $0.30, implying a 13.5% annualized yield.
• The stock opened at $8.91, while institutional investors own 54.89% of outstanding shares; BlackRock established the largest recently disclosed new position, valued at approximately $127.9 million.

Adamas Trust, Inc. (NASDAQ:ADAM - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six analysts that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $9.50.

Several equities research analysts have recently issued reports on ADAM shares. Wall Street Zen lowered shares of Adamas Trust from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Adamas Trust in a report on Tuesday, July 21st. Zacks Research raised shares of Adamas Trust from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. UBS Group raised their price objective on shares of Adamas Trust from $8.50 to $9.50 and gave the stock a "neutral" rating in a research note on Wednesday, August 19th. Finally, JonesTrading restated a "buy" rating and set a $10.00 target price on shares of Adamas Trust in a research report on Thursday.

Adamas Trust Stock Performance

NASDAQ:ADAM opened at $8.91 on Friday. The stock's fifty day moving average is $9.43 and its 200 day moving average is $8.79. Adamas Trust has a fifty-two week low of $6.45 and a fifty-two week high of $10.36. The firm has a market capitalization of $800.83 million, a PE ratio of 5.30 and a beta of 1.18. The company has a debt-to-equity ratio of 11.89, a quick ratio of 18.54 and a current ratio of 18.54.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. The company had revenue of $47.92 million during the quarter, compared to analyst estimates of $47.50 million. On average, sell-side analysts anticipate that Adamas Trust will post 1.2 earnings per share for the current year.

Adamas Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, September 22nd will be issued a $0.30 dividend. The ex-dividend date is Tuesday, September 22nd. This is a positive change from Adamas Trust's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 13.5%. Adamas Trust's dividend payout ratio (DPR) is currently 64.29%.

Institutional Trading of Adamas Trust

Several institutional investors and hedge funds have recently made changes to their positions in ADAM. BlackRock Inc. bought a new position in shares of Adamas Trust in the second quarter worth about $127,863,000. Bank of New York Mellon Corp purchased a new stake in Adamas Trust in the 2nd quarter valued at about $4,657,000. Bessemer Group Inc. boosted its position in Adamas Trust by 48,152.5% in 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 America Corp DE purchased a new stake in Adamas Trust in the 2nd quarter valued at about $3,461,000. Finally, Principal Financial Group Inc. grew its stake in Adamas Trust by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 408,275 shares of the company's stock worth $3,005,000 after acquiring an additional 7,947 shares in the last quarter. 54.89% of the stock is currently owned by institutional investors.

Adamas Trust Company Profile

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