Bank of New York Mellon Corp Invests $4.66 Million in Adamas Trust, Inc. $ADAM

Bank of New York Mellon Corp bought a new position in Adamas Trust, Inc. (NASDAQ:ADAM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 496,514 shares of the company's stock, valued at approximately $4,657,000. Bank of New York Mellon Corp owned about 0.55% of Adamas Trust as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ADAM. State of Wyoming acquired a new stake in Adamas Trust in the second quarter worth $455,000. GSA Capital Partners LLP acquired a new stake in Adamas Trust in the 2nd quarter valued at approximately $229,000. Empowered Funds LLC acquired a new stake in Adamas Trust in the 1st quarter valued at approximately $233,000. Royal Bank of Canada grew its stake in shares of Adamas Trust by 2.9% in the first quarter. Royal Bank of Canada now owns 43,261 shares of the company's stock worth $318,000 after purchasing an additional 1,214 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Adamas Trust by 39.2% in the first quarter. Quantinno Capital Management LP now owns 106,208 shares of the company's stock worth $782,000 after purchasing an additional 29,905 shares during the period. Institutional investors own 54.89% of the company's stock.

Adamas Trust Trading Up 0.5%

NASDAQ ADAM opened at $9.75 on Friday. The firm's 50 day moving average price is $9.43 and its two-hundred day moving average price is $8.72. 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, Inc. has a twelve month low of $6.45 and a twelve month high of $10.36. The stock has a market cap of $876.33 million, a price-to-earnings ratio of 5.80 and a beta of 1.18.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last released its 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. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%.The company had revenue of $47.92 million during the quarter, compared to analyst estimates of $47.50 million. Equities analysts anticipate that Adamas Trust, Inc. will post 1.2 EPS for the current year.

Adamas Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, September 22nd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This is a boost from Adamas Trust's previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 12.3%. Adamas Trust's payout ratio is presently 64.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ADAM shares. Wall Street Zen cut shares of Adamas Trust from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. Zacks Research upgraded shares of Adamas Trust from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. JonesTrading restated a "buy" rating and set a $10.00 target price on shares of Adamas Trust in a report on Tuesday, September 1st. UBS Group lifted their price target on shares of Adamas Trust from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Wednesday, August 19th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Adamas Trust in a report on Tuesday, July 21st. 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.50.

Adamas Trust 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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