Adamas Trust, Inc. (NASDAQ:ADAM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Adamas Trust, Inc. (NASDAQ:ADAM) have received a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $9.50.

A number of equities research analysts have commented on ADAM shares. JonesTrading raised their price target on Adamas Trust from $9.50 to $10.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a research note on Tuesday, July 21st. Zacks Research upgraded Adamas Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. UBS Group lifted their target price on Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Wednesday, August 19th. Finally, Wall Street Zen cut Adamas Trust from a “buy” rating to a “hold” rating in a report on Sunday, August 9th.

Adamas Trust Stock Performance

Shares of NASDAQ ADAM opened at $9.84 on Wednesday. The firm has a fifty day moving average price of $9.34 and a 200-day moving average price of $8.62. The company has a debt-to-equity ratio of 11.89, a current ratio of 18.54 and a quick ratio of 18.54. The stock has a market cap of $884.42 million, a PE ratio of 5.86 and a beta of 1.17. Adamas Trust has a 1 year low of $6.45 and a 1 year high of $10.36.

Adamas Trust (NASDAQ:ADAM) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. The firm had revenue of $47.92 million for the quarter, compared to the consensus estimate of $47.50 million. Equities analysts anticipate that Adamas Trust will post 1.2 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, September 22nd will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 22nd. This is an increase from Adamas Trust’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 12.2%. Adamas Trust’s dividend payout ratio (DPR) is 64.29%.

Hedge Funds Weigh In On Adamas Trust

Several hedge funds have recently modified their holdings of ADAM. Royal Bank of Canada lifted its stake in Adamas Trust by 2.9% in the 1st 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. Public Employees Retirement System of Ohio purchased a new position in shares of Adamas Trust during the second quarter valued at about $34,000. Nykredit A S purchased a new position in shares of Adamas Trust during the second quarter valued at about $36,000. Kestra Advisory Services LLC purchased a new position in shares of Adamas Trust during the fourth quarter valued at about $31,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Adamas Trust in the fourth quarter worth about $42,000. Hedge funds and other institutional investors 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.