Adamas Trust, Inc. $ADAM Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its holdings in shares of Adamas Trust, Inc. (NASDAQ:ADAM) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 880,853 shares of the company’s stock after selling 71,384 shares during the period. Van ECK Associates Corp owned approximately 0.98% of Adamas Trust worth $8,262,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ADAM. Public Employees Retirement System of Ohio purchased a new stake in shares of Adamas Trust in the second quarter worth about $34,000. Kestra Advisory Services LLC purchased a new position in Adamas Trust during the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. acquired a new position in Adamas Trust in the fourth quarter valued at approximately $42,000. Hillsdale Investment Management Inc. acquired a new position in Adamas Trust in the first quarter valued at approximately $60,000. Finally, CWM LLC acquired a new stake in shares of Adamas Trust during the 4th quarter worth approximately $73,000. 54.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ADAM shares. Wall Street Zen cut shares of Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. UBS Group lifted their price objective on shares of Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Wednesday, August 19th. Zacks Research upgraded shares of Adamas Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. JonesTrading restated a “buy” rating and set a $10.00 target price on shares of Adamas Trust in a research report on Tuesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Adamas Trust in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Adamas Trust currently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Adamas Trust Stock Performance

NASDAQ:ADAM opened at $9.61 on Wednesday. The company has a debt-to-equity ratio of 11.89, a quick ratio of 18.54 and a current ratio of 18.54. The stock has a market capitalization of $863.75 million, a PE ratio of 5.72 and a beta of 1.18. Adamas Trust, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $10.36. The company has a fifty day moving average of $9.41 and a two-hundred day moving average of $8.69.

Adamas Trust (NASDAQ:ADAM) last announced its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. The business had revenue of $47.92 million for 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, Inc. will post 1.2 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, September 22nd will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 12.5%. The ex-dividend date is Tuesday, September 22nd. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.27. Adamas Trust’s payout ratio is presently 64.29%.

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.