Adamas Trust (NASDAQ:ADAM) Issues Earnings Results, Beats Estimates By $0.05 EPS

Adamas Trust (NASDAQ:ADAM) announced its quarterly earnings data on Wednesday. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05, FiscalAI reports. Adamas Trust had a return on equity of 14.29% and a net margin of 24.14%.

Adamas Trust Stock Performance

Adamas Trust stock opened at $8.65 on Thursday. Adamas Trust has a fifty-two week low of $6.16 and a fifty-two week high of $9.59. The company has a debt-to-equity ratio of 11.91, a current ratio of 17.69 and a quick ratio of 17.70. The firm has a 50 day moving average of $9.06. The firm has a market cap of $777.29 million, a P/E ratio of 7.39 and a beta of 1.16.

Adamas Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Tuesday, June 23rd were issued a $0.27 dividend. This is a boost from Adamas Trust’s previous quarterly dividend of $0.23. The ex-dividend date was Tuesday, June 23rd. This represents a $1.08 annualized dividend and a yield of 12.5%. Adamas Trust’s payout ratio is 92.31%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADAM. B. Riley Financial downgraded Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 target price for the company. in a research note on Thursday, April 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.33.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ADAM. Nisa Investment Advisors LLC purchased a new position in shares of Adamas Trust during the fourth quarter worth $65,000. Yousif Capital Management LLC purchased a new stake in shares of Adamas Trust in the 4th quarter valued at $166,000. State of Alaska Department of Revenue purchased a new stake in shares of Adamas Trust in the 4th quarter valued at $307,000. CWM LLC acquired a new position in Adamas Trust during the 4th quarter worth about $73,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Adamas Trust during the 4th quarter worth about $127,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

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.