New York State Teachers Retirement System Makes New Investment in Adamas Trust, Inc. $ADAM

Key Points

• New York State Teachers Retirement System bought 128,812 shares of Adamas Trust in the fourth quarter, a stake valued at about $940,000, according to its latest SEC filing.
• Other institutions also added positions, and institutional investors now own 54.89% of the stock, showing continued interest from large holders.
• Adamas Trust reported strong quarterly results, with EPS of $0.29 topping estimates and revenue of $45.81 million beating forecasts; the company also pays a 10.4% dividend yield.

New York State Teachers Retirement System purchased a new position in shares of Adamas Trust, Inc. (NASDAQ:ADAM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 128,812 shares of the company's stock, valued at approximately $940,000. New York State Teachers Retirement System owned approximately 0.14% of Adamas Trust as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. UBS Group AG acquired a new position in Adamas Trust during the fourth quarter worth $2,338,000. State of Alaska Department of Revenue acquired a new stake in shares of Adamas Trust in the fourth quarter valued at $307,000. Arizona State Retirement System acquired a new stake in shares of Adamas Trust in the fourth quarter valued at $174,000. Comerica Bank acquired a new stake in shares of Adamas Trust in the fourth quarter valued at $169,000. Finally, Yousif Capital Management LLC acquired a new stake in shares of Adamas Trust in the fourth quarter valued at $166,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADAM. Keefe, Bruyette & Woods increased their price objective on Adamas Trust from $8.25 to $9.00 and gave the company a "market perform" rating in a research note on Friday, February 20th. Weiss Ratings upgraded Adamas Trust from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, April 24th. JonesTrading increased their price objective on Adamas Trust from $7.50 to $9.50 and gave the company a "buy" rating in a research note on Friday, February 20th. Finally, B. Riley Financial cut Adamas Trust from a "buy" rating to a "neutral" rating and set a $9.50 price objective on the stock. in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $9.33.

Adamas Trust Price Performance

NASDAQ:ADAM opened at $8.83 on Monday. The stock has a market capitalization of $793.46 million, a price-to-earnings ratio of 7.55 and a beta of 1.18. The company has a fifty day simple moving average of $7.87. The company has a quick ratio of 17.70, a current ratio of 17.69 and a debt-to-equity ratio of 11.91. Adamas Trust, Inc. has a 12 month low of $6.16 and a 12 month high of $9.32.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.24 by $0.05. The firm had revenue of $45.81 million for the quarter, compared to analyst estimates of $40.00 million. Adamas Trust had a return on equity of 14.29% and a net margin of 24.14%. As a group, equities analysts anticipate that Adamas Trust, Inc. will post 1.05 EPS for the current year.

Adamas Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Monday, March 30th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend was Monday, March 30th. Adamas Trust's dividend payout ratio is 78.63%.

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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