Adamas Trust (NASDAQ:ADAM) Hits New 52-Week Low - What's Next?

Key Points

• Adamas Trust hit a new 52-week low, trading as low as $5.67 and last changing hands at $5.69, down from its previous close of $5.92.
• Analyst sentiment is mostly cautious: the stock has a “Reduce” consensus rating and an average price target of $9.25, with one Buy, three Hold, and two Sell ratings.
• The company raised its quarterly dividend from $0.27 to $0.30 per share, equivalent to a 21.1% annualized yield; its latest quarterly EPS of $0.30 matched analysts’ consensus.

Adamas Trust, Inc. (NASDAQ:ADAM - Get Free Report) shares hit a new 52-week low on Friday. The stock traded as low as $5.67 and last traded at $5.69, with a volume of 1,934,151 shares trading hands. The stock had previously closed at $5.92.

Analyst Ratings Changes

A number of research analysts have weighed in on ADAM shares. UBS Group increased their price target on Adamas Trust from $8.50 to $9.50 and gave the stock a "neutral" rating in a research note on Wednesday, August 19th. JonesTrading lowered their price objective on Adamas Trust from $10.00 to $9.50 and set a "buy" rating for the company in a research report on Thursday, October 29th. Wall Street Zen lowered Adamas Trust from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Zacks Research downgraded Adamas Trust from a "hold" rating to a "strong sell" rating in a research report on Friday, October 30th. Finally, Weiss Ratings lowered Adamas Trust from a "hold (c)" rating to a "sell (d)" rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Adamas Trust presently has a consensus rating of "Reduce" and an average target price of $9.25.

Adamas Trust Trading Down 3.9%

The business's fifty day moving average is $8.15 and its 200-day moving average is $8.49. The stock has a market capitalization of $513.84 million, a PE ratio of -9.98 and a beta of 1.26. The company has a quick ratio of 18.54, a current ratio of 19.06 and a debt-to-equity ratio of 16.02.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.30 earnings per share for the quarter, hitting analysts' consensus estimates of $0.30. The company had revenue of ($119.44) million for the quarter. Adamas Trust had a negative net margin of 0.26% and a positive return on equity of 15.77%. As a group, analysts anticipate that Adamas Trust, Inc. will post 1.19 EPS for the current fiscal year.

Adamas Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Tuesday, September 22nd were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 21.1%. The ex-dividend date was Tuesday, September 22nd. This is a positive change from Adamas Trust's previous quarterly dividend of $0.27. Adamas Trust's payout ratio is currently -210.53%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADAM. Maryland State Retirement & Pension System raised its holdings in Adamas Trust by 55.7% in the third quarter. Maryland State Retirement & Pension System now owns 18,805 shares of the company's stock valued at $146,000 after buying an additional 6,730 shares during the period. StoneX Group Inc. acquired a new position in Adamas Trust during the third quarter valued at approximately $148,000. Chicago Partners Investment Group LLC acquired a new position in Adamas Trust during the third quarter valued at approximately $123,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Adamas Trust during the third quarter worth approximately $307,000. Finally, Wedbush Securities Inc. purchased a new stake in Adamas Trust during the third quarter worth approximately $412,000. Institutional investors and hedge funds own 54.89% of the company's stock.

Adamas Trust Company 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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