Adamas Trust (NASDAQ:ADAM) Trading Down 2.6% – Here’s Why

Adamas Trust, Inc. (NASDAQ:ADAM)’s share price traded down 2.6% during trading on Friday . The company traded as low as $8.91 and last traded at $8.98. Approximately 848,799 shares were traded during trading, a decline of 2% from the average session volume of 867,845 shares. The stock had previously closed at $9.22.

Wall Street Analyst Weigh In

ADAM has been the topic of a number of recent research reports. B. Riley Financial downgraded Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 target price on the stock. in a report on Thursday, April 30th. Weiss Ratings raised shares of Adamas Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Adamas Trust has a consensus rating of “Hold” and an average price target of $9.33.

Adamas Trust Trading Down 2.6%

The firm has a 50 day simple moving average of $9.08. The company has a debt-to-equity ratio of 11.91, a quick ratio of 17.70 and a current ratio of 17.69. The firm has a market cap of $806.95 million, a price-to-earnings ratio of 7.68 and a beta of 1.16.

Adamas Trust (NASDAQ:ADAM) last posted 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. Adamas Trust had a return on equity of 14.29% and a net margin of 24.14%.The firm had revenue of $45.81 million during the quarter, compared to analyst estimates of $40.00 million. Equities research analysts expect that Adamas Trust, Inc. will post 1.05 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 23rd will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 12.0%. This is an increase from Adamas Trust’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, June 23rd. Adamas Trust’s dividend payout ratio is 92.31%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in Adamas Trust in the 4th quarter worth approximately $28,000. Atwood & Palmer Inc. purchased a new position in shares of Adamas Trust during the 4th quarter valued at $29,000. Kestra Advisory Services LLC bought a new position in Adamas Trust in the 4th quarter worth $31,000. PNC Financial Services Group Inc. bought a new stake in Adamas Trust during the fourth quarter valued at about $42,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Adamas Trust in the first quarter valued at about $60,000. 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.