Legal & General Group Plc Takes $1.89 Million Position in Adamas Trust, Inc. $ADAM

Legal & General Group Plc purchased a new position in shares of Adamas Trust, Inc. (NASDAQ:ADAM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 201,752 shares of the company’s stock, valued at approximately $1,892,000.

Other large investors have also made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Adamas Trust by 2.9% in the first quarter. Royal Bank of Canada now owns 43,261 shares of the company’s stock valued at $318,000 after purchasing an additional 1,214 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Adamas Trust during the fourth quarter worth about $28,000. Kestra Advisory Services LLC acquired a new position in Adamas Trust in the 4th quarter valued at about $31,000. PNC Financial Services Group Inc. acquired a new position in Adamas Trust in the 4th quarter valued at about $42,000. Finally, Principal Financial Group Inc. grew its stake in shares of Adamas Trust by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 408,275 shares of the company’s stock valued at $3,005,000 after buying an additional 7,947 shares during the period. 54.89% of the stock is currently owned by hedge funds and other institutional investors.

Adamas Trust Price Performance

Adamas Trust stock opened at $9.75 on Monday. The company’s 50 day simple moving average is $9.43 and its 200-day simple moving average is $8.72. The company has a market capitalization of $876.33 million, a price-to-earnings ratio of 5.80 and a beta of 1.18. Adamas Trust, Inc. has a 1 year low of $6.45 and a 1 year high of $10.36. The company has a debt-to-equity ratio of 11.89, a quick ratio of 18.54 and a current ratio of 18.54.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. The firm 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, equities research analysts expect that Adamas Trust, Inc. will post 1.2 earnings per share for the current year.

Adamas Trust Increases Dividend

The company 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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 12.3%. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 22nd. Adamas Trust’s payout ratio is currently 64.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADAM. Weiss Ratings restated a “hold (c)” rating on shares of Adamas Trust in a report on Tuesday, July 21st. UBS Group upped their price objective on Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Wednesday, August 19th. Zacks Research raised Adamas Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. JonesTrading restated a “buy” rating and issued a $10.00 target price on shares of Adamas Trust in a research report on Tuesday, September 1st. Finally, Wall Street Zen lowered Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

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.