Adamas Trust, Inc. (NASDAQ:ADAM) Stock Has Average Price Target of $9.50

Adamas Trust, Inc. (NASDAQ:ADAM) has earned an average rating of “Hold” from the six ratings firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $9.50.

Several equities research analysts recently issued reports on ADAM shares. JonesTrading reiterated a “buy” rating and set a $10.00 price target on shares of Adamas Trust in a report on Thursday, September 17th. Wall Street Zen cut Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Zacks Research cut Adamas Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a report on Monday. Finally, UBS Group upped their target price on shares of Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 19th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in Adamas Trust by 2.9% during the first quarter. Royal Bank of Canada now owns 43,261 shares of the company’s stock worth $318,000 after purchasing an additional 1,214 shares during the last quarter. Novem Group grew its position in Adamas Trust by 17.4% in the 3rd quarter. Novem Group now owns 13,515 shares of the company’s stock worth $105,000 after purchasing an additional 2,000 shares in the last quarter. GAMMA Investing LLC increased its stake in Adamas Trust by 26.1% in the 3rd quarter. GAMMA Investing LLC now owns 9,974 shares of the company’s stock valued at $78,000 after buying an additional 2,065 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Adamas Trust in the 2nd quarter valued at about $34,000. Finally, Nykredit A S purchased a new stake in Adamas Trust in the 2nd quarter valued at about $36,000. 54.89% of the stock is currently owned by hedge funds and other institutional investors.

Adamas Trust Stock Performance

Shares of ADAM opened at $7.44 on Thursday. The firm has a market capitalization of $668.71 million, a P/E ratio of 4.43 and a beta of 1.22. Adamas Trust has a 52 week low of $6.45 and a 52 week high of $10.36. The stock has a 50 day moving average price of $8.81 and a two-hundred day moving average price of $8.81. The company has a debt-to-equity ratio of 11.89, a quick ratio of 18.54 and a current ratio of 18.54.

Adamas Trust (NASDAQ:ADAM) last posted its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The company had revenue of $47.92 million for the quarter, compared to analyst estimates of $47.50 million. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%. Equities analysts forecast that Adamas Trust will post 1.20 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, September 22nd will be issued a $0.30 dividend. This is an increase from Adamas Trust’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 16.1%. The ex-dividend date is Tuesday, September 22nd. Adamas Trust’s dividend payout ratio is currently 71.43%.

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.