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

Adamas Trust, Inc. (NASDAQ:ADAM) reached a new 52-week high during mid-day trading on Friday . The stock 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.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ADAM shares. B. Riley Financial lowered shares of Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price objective for the company. in a research note on Thursday, April 30th. Weiss Ratings upgraded Adamas Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.33.

Adamas Trust Stock Up 1.1%

The firm has a market cap of $847.83 million, a P/E ratio of 8.08 and a beta of 1.17. The company has a 50-day simple moving average of $8.75. The company has a current ratio of 17.69, a quick ratio of 17.70 and a debt-to-equity ratio of 11.91.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. The company had revenue of $45.81 million during the quarter, compared to analyst estimates of $40.00 million. Adamas Trust had a return on equity of 14.29% and a net margin of 24.14%. Research analysts expect that Adamas Trust, Inc. will post 1.05 EPS for the current year.

Adamas Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, June 23rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 11.4%. This is a boost from Adamas Trust’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, June 23rd. Adamas Trust’s dividend payout ratio (DPR) is presently 92.31%.

Institutional Investors Weigh In On Adamas Trust

A number of large investors have recently added to or reduced their stakes in ADAM. Public Employees Retirement System of Ohio purchased a new position in shares of Adamas Trust in the 4th quarter worth about $28,000. Atwood & Palmer Inc. purchased a new position in shares of Adamas Trust during the 4th quarter valued at about $29,000. Kestra Advisory Services LLC bought a new stake in Adamas Trust in the 4th quarter worth approximately $31,000. PNC Financial Services Group Inc. bought a new stake in Adamas Trust in the 4th quarter worth approximately $42,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in Adamas Trust in the first quarter worth approximately $60,000. Hedge funds and other institutional investors own 54.89% of the company’s stock.

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.