Adamas Trust (NASDAQ:ADAM) Reaches New 12-Month High – Still a Buy?

Shares of Adamas Trust, Inc. (NASDAQ:ADAM) reached a new 52-week high on Friday . The company traded as high as $9.54 and last traded at $9.5250, with a volume of 259482 shares trading hands. The stock had previously closed at $9.33.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. B. Riley Financial lowered Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price target on the stock. in a research report on Thursday, April 30th. Weiss Ratings raised Adamas Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.33.

Adamas Trust Trading Up 1.9%

The stock has a market cap of $854.57 million, a P/E ratio of 8.13 and a beta of 1.17. The firm has a 50 day moving average price of $8.78. The company has a quick ratio of 17.70, a current ratio of 17.69 and a debt-to-equity ratio of 11.91.

Adamas Trust (NASDAQ:ADAM) last issued its earnings results on Wednesday, April 29th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Adamas Trust had a net margin of 24.14% and a return on equity of 14.29%. The company had revenue of $45.81 million for the quarter, compared to analysts’ expectations of $40.00 million. As a group, equities research analysts predict that Adamas Trust, Inc. will post 1.05 EPS for the current year.

Adamas Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 23rd will be given a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.23. This represents a $1.08 dividend on an annualized basis and a dividend yield of 11.4%. Adamas Trust’s payout ratio is 92.31%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in shares of Adamas Trust by 2.9% during the 1st quarter. Royal Bank of Canada now owns 43,261 shares of the company’s stock worth $318,000 after acquiring an additional 1,214 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Adamas Trust during the fourth quarter worth $28,000. Atwood & Palmer Inc. bought a new position in Adamas Trust during the fourth quarter worth $29,000. Kestra Advisory Services LLC bought a new position in Adamas Trust during the fourth quarter worth $31,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Adamas Trust in the fourth quarter valued at $42,000. 54.89% of the stock is currently owned by 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.