Adamas Trust (NASDAQ:ADAM) Reaches New 1-Year Low – Here’s Why

Adamas Trust, Inc. (NASDAQ:ADAM)’s stock price reached 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.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADAM. Keefe, Bruyette & Woods lowered their price target on Adamas Trust from $9.25 to $8.50 and set a “market perform” rating for the company in a report on Friday, October 30th. Wall Street Zen cut Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings cut Adamas Trust from a “hold (c)” rating to a “sell (d)” rating in a research note on Tuesday. UBS Group upped their target price on Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Finally, JonesTrading lowered their target price on Adamas Trust from $10.00 to $9.50 and set a “buy” rating for the company in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Adamas Trust has an average rating of “Reduce” and an average target price of $9.25.

Adamas Trust Price Performance

The company has a market cap of $513.84 million, a PE ratio of -9.98 and a beta of 1.26. The business’s 50 day moving average price is $8.15 and its 200-day moving average price is $8.49. 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) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. Adamas Trust had a negative net margin of 0.26% and a positive return on equity of 15.77%. The business had revenue of ($119.44) million during the quarter. As a group, analysts forecast that Adamas Trust, Inc. will post 1.19 earnings per share for the current year.

Adamas Trust Increases Dividend

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

Institutional Trading of Adamas Trust

A number of hedge funds and other institutional investors have recently modified their holdings of ADAM. Bank of New York Mellon Corp purchased a new position in Adamas Trust in the second quarter valued at about $4,657,000. Bank of America Corp DE acquired a new stake in Adamas Trust during the 2nd quarter valued at approximately $3,461,000. Legal & General Group Plc purchased a new stake in Adamas Trust during the 2nd quarter worth approximately $1,892,000. Bessemer Group Inc. increased its holdings in Adamas Trust by 48,152.5% during the 1st quarter. Bessemer Group Inc. now owns 530,778 shares of the company’s stock worth $3,907,000 after purchasing an additional 529,678 shares during the last quarter. Finally, BlackRock Inc. acquired a new position in shares of Adamas Trust in the 2nd quarter valued at approximately $127,863,000. 54.89% of the stock is owned by hedge funds and other institutional investors.

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.