Adamas Trust, Inc. (NASDAQ:ADAM) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Adamas Trust, Inc. (NASDAQ:ADAM) has been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $9.50.

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. Wall Street Zen cut Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Zacks Research raised Adamas Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. UBS Group raised their price target on shares of Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 19th. Finally, JonesTrading reiterated a “buy” rating and issued a $10.00 price objective on shares of Adamas Trust in a report on Thursday, September 17th.

Adamas Trust Trading Down 3.4%

Shares of NASDAQ:ADAM opened at $8.14 on Friday. Adamas Trust has a 12 month low of $6.45 and a 12 month high of $10.36. The company has a quick ratio of 18.54, a current ratio of 18.54 and a debt-to-equity ratio of 11.89. The company’s fifty day simple moving average is $9.38 and its 200 day simple moving average is $8.81. The firm has a market cap of $731.62 million, a price-to-earnings ratio of 4.85 and a beta of 1.18.

Adamas Trust (NASDAQ:ADAM) last announced its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The firm had revenue of $47.92 million during the quarter, compared to analyst estimates of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. As a group, research analysts forecast that Adamas Trust will post 1.2 EPS for the current fiscal year.

Adamas Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, September 22nd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 14.7%. The ex-dividend date is Tuesday, September 22nd. This is an increase from Adamas Trust’s previous quarterly dividend of $0.27. Adamas Trust’s dividend payout ratio (DPR) is presently 71.43%.

Hedge Funds Weigh In On Adamas Trust

A number of large investors have recently modified their holdings of ADAM. Tidal Investments LLC acquired a new stake in shares of Adamas Trust in the second quarter valued at about $172,000. Integrated Wealth Concepts LLC bought a new position in Adamas Trust in the second quarter valued at approximately $48,000. Nykredit A S acquired a new position in shares of Adamas Trust during the 2nd quarter worth approximately $36,000. Corient Private Wealth LP bought a new stake in shares of Adamas Trust during the 2nd quarter worth approximately $107,000. Finally, Amundi acquired a new stake in shares of Adamas Trust in the 2nd quarter valued at approximately $128,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

About Adamas Trust