Adamas Trust (NASDAQ:ADAM) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Adamas Trust (NASDAQ:ADAM) issued its quarterly earnings results on Wednesday. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01), FiscalAI reports. The company had revenue of $160.00 million during the quarter. Adamas Trust had a return on equity of 13.64% and a net margin of 24.76%.

Adamas Trust Trading Up 3.1%

NASDAQ ADAM opened at $8.29 on Friday. Adamas Trust has a one year low of $5.01 and a one year high of $8.76. The company has a quick ratio of 12.43, a current ratio of 12.44 and a debt-to-equity ratio of 12.30. The stock has a market capitalization of $748.67 million, a P/E ratio of 7.54 and a beta of 1.12.

Institutional Trading of Adamas Trust

A number of large investors have recently made changes to their positions in the stock. Comerica Bank bought a new stake in shares of Adamas Trust during the 4th quarter valued at about $169,000. Strs Ohio purchased a new position in shares of Adamas Trust in the fourth quarter worth approximately $119,000. Arizona State Retirement System bought a new stake in Adamas Trust during the fourth quarter valued at approximately $174,000. Pictet Asset Management Holding SA purchased a new stake in Adamas Trust during the fourth quarter valued at approximately $76,000. Finally, New York State Teachers Retirement System bought a new position in Adamas Trust in the 4th quarter worth $940,000. 54.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADAM has been the subject of a number of recent research reports. JonesTrading lifted their price objective on Adamas Trust from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings initiated coverage on Adamas Trust in a report on Wednesday, January 14th. They set a “hold (c-)” rating for the company. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Adamas Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

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.