Adamas Trust, Inc. (NASDAQ:ADAM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Adamas Trust, Inc. (NASDAQ:ADAM) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $9.50.

ADAM has been the topic of several analyst reports. Zacks Research upgraded Adamas Trust from a “hold” rating to a “strong-buy” rating in a report on Thursday. Wall Street Zen upgraded shares of Adamas Trust from a “hold” rating to a “buy” rating in a research note on Saturday. B. Riley Financial downgraded shares of Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price target on the stock. in a research note on Thursday, April 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. Finally, JonesTrading lifted their price objective on Adamas Trust from $9.50 to $10.00 and gave the company a “buy” rating in a report on Thursday.

Adamas Trust Stock Up 1.5%

ADAM opened at $9.07 on Friday. The stock has a market capitalization of $815.03 million, a price-to-earnings ratio of 5.40 and a beta of 1.16. Adamas Trust has a 12-month low of $6.16 and a 12-month high of $9.59. The company has a debt-to-equity ratio of 11.89, a current ratio of 18.54 and a quick ratio of 17.70. The firm has a fifty day simple moving average of $9.07.

Adamas Trust (NASDAQ:ADAM) last issued its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The company had revenue of $47.92 million during 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%. On average, analysts expect that Adamas Trust will post 1.2 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $1.08 annualized dividend and a yield of 11.9%. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.23. Adamas Trust’s dividend payout ratio (DPR) is currently 64.29%.

Institutional Trading of Adamas Trust

Several institutional investors and hedge funds have recently made changes to their positions in ADAM. State Street Corp bought a new stake in Adamas Trust in the fourth quarter valued at about $24,607,000. Invesco Ltd. acquired a new stake in Adamas Trust during the 4th quarter worth approximately $23,172,000. Geode Capital Management LLC bought a new stake in Adamas Trust in the 4th quarter valued at $15,702,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Adamas Trust in the fourth quarter valued at about $13,039,000. Finally, JPMorgan Chase & Co. acquired a new position in Adamas Trust during the 4th quarter worth approximately $4,258,000. Institutional investors own 54.89% of the company’s stock.

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.