Adamas Trust (NASDAQ:ADAM) Given New $9.50 Price Target at JonesTrading

Adamas Trust (NASDAQ:ADAM) had its target price upped by equities research analysts at JonesTrading from $7.50 to $9.50 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. JonesTrading’s price target would suggest a potential upside of 14.60% from the stock’s previous close.

Separately, Weiss Ratings assumed coverage on Adamas Trust in a research report on Wednesday, January 14th. They set a “hold (c-)” rating for the company. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Adamas Trust presently has a consensus rating of “Hold” and a consensus price target of $9.25.

Adamas Trust Trading Up 3.1%

ADAM stock opened at $8.29 on Friday. Adamas Trust has a fifty-two week low of $5.01 and a fifty-two week high of $8.76. The company has a market cap of $748.67 million, a price-to-earnings ratio of 7.54 and a beta of 1.12. The company has a current ratio of 12.44, a quick ratio of 12.43 and a debt-to-equity ratio of 12.30.

Adamas Trust (NASDAQ:ADAM) last released its earnings results on Wednesday, February 18th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Adamas Trust had a net margin of 24.76% and a return on equity of 13.64%. The firm had revenue of $160.00 million during the quarter.

Hedge Funds Weigh In On Adamas Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp purchased a new position in shares of Adamas Trust in the 4th quarter worth about $24,607,000. Invesco Ltd. bought a new stake in Adamas Trust during the 4th quarter valued at about $23,172,000. Geode Capital Management LLC bought a new stake in Adamas Trust during the 4th quarter valued at about $15,702,000. Charles Schwab Investment Management Inc. purchased a new position in Adamas Trust in the fourth quarter worth about $13,039,000. Finally, JPMorgan Chase & Co. purchased a new position in Adamas Trust in the fourth quarter worth about $4,258,000. 54.89% of the stock is currently owned by institutional investors.

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.