BlackRock Inc. acquired a new position in Adamas Trust, Inc. (NASDAQ:ADAM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,631,398 shares of the company's stock, valued at approximately $127,863,000. BlackRock Inc. owned approximately 15.17% of Adamas Trust at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG bought a new position in shares of Adamas Trust during the 2nd quarter worth about $884,000. OneDigital Investment Advisors LLC bought a new stake in Adamas Trust during the second quarter worth $97,000. Bank of New York Mellon Corp purchased a new stake in shares of Adamas Trust in the second quarter valued at about $4,657,000. State of Wyoming bought a new position in shares of Adamas Trust during the 2nd quarter worth approximately $455,000. Finally, GSA Capital Partners LLP bought a new stake in Adamas Trust during the second quarter worth $229,000. 54.89% of the stock is owned by institutional investors.
Analyst Ratings Changes
ADAM has been the subject of a number of research reports. JonesTrading increased their target price on shares of Adamas Trust from $9.50 to $10.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Weiss Ratings reissued a "hold (c)" rating on shares of Adamas Trust in a report on Tuesday, July 21st. UBS Group lifted their target price on Adamas Trust from $8.50 to $9.50 and gave the company a "neutral" rating in a report on Wednesday, August 19th. Wall Street Zen lowered shares of Adamas Trust from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, Zacks Research upgraded shares of Adamas Trust from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.50.
Check Out Our Latest Stock Report on Adamas Trust
Adamas Trust Price Performance
ADAM opened at $9.80 on Friday. 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 cap of $880.82 million, a price-to-earnings ratio of 5.83 and a beta of 1.17. The stock has a fifty day simple moving average of $9.38 and a two-hundred day simple moving average of $8.66. Adamas Trust, Inc. has a 12-month low of $6.45 and a 12-month high of $10.36.
Adamas Trust (NASDAQ:ADAM - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, topping 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%. Research analysts predict that Adamas Trust, Inc. will post 1.2 earnings per share for the current fiscal year.
Adamas Trust Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, September 22nd will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 12.2%. This is a boost from Adamas Trust's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 22nd. Adamas Trust's dividend payout ratio is currently 64.29%.
Adamas Trust Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding ADAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adamas Trust, Inc. (NASDAQ:ADAM - Free Report).
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