Adamas Trust (NASDAQ:ADAM) Stock Rating Upgraded by Zacks Research

Adamas Trust (NASDAQ:ADAM) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other research firms have also recently weighed in on ADAM. Wall Street Zen upgraded shares of Adamas Trust from a “hold” rating to a “buy” rating in a report on Saturday. JonesTrading raised their price objective on shares of Adamas Trust from $9.50 to $10.00 and gave the stock a “buy” rating in a report on Thursday. B. Riley Financial cut shares of Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price objective on the stock. in a research report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Adamas Trust Price Performance

NASDAQ:ADAM opened at $9.07 on Thursday. 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 company’s 50-day simple moving average is $9.07. Adamas Trust has a fifty-two week low of $6.16 and a fifty-two week high of $9.59. The company has a market cap of $815.03 million, a PE ratio of 5.40 and a beta of 1.16.

Adamas Trust (NASDAQ:ADAM) last posted its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $47.92 million during the quarter, compared to analysts’ expectations of $47.50 million. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%. On average, research analysts expect that Adamas Trust will post 1.2 earnings per share for the current year.

Institutional Trading of Adamas Trust

A number of institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in shares of Adamas Trust in the fourth quarter worth $28,000. Atwood & Palmer Inc. bought a new position in Adamas Trust in the fourth quarter valued at $29,000. Kestra Advisory Services LLC acquired a new stake in Adamas Trust in the 4th quarter valued at $31,000. PNC Financial Services Group Inc. acquired a new stake in Adamas Trust in the 4th quarter valued at $42,000. Finally, Hillsdale Investment Management Inc. bought a new stake in Adamas Trust during the 1st quarter worth about $60,000. 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.