Adamas Trust (NASDAQ:ADAM) Sets New 52-Week High – Here’s Why

Adamas Trust, Inc. (NASDAQ:ADAM) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $9.59 and last traded at $9.5050, with a volume of 433799 shares. The stock had previously closed at $9.44.

Analyst Upgrades and Downgrades

ADAM has been the subject of a number of recent analyst reports. B. Riley Financial cut shares of Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price target for the company. in a report on Thursday, April 30th. Wall Street Zen upgraded Adamas Trust from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. JonesTrading upped their price objective on shares of Adamas Trust from $9.50 to $10.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Zacks Research upgraded shares of Adamas Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Adamas Trust presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Adamas Trust Stock Up 0.8%

The firm’s 50-day moving average is $9.09 and its two-hundred day moving average is $8.46. The company has a debt-to-equity ratio of 11.89, a quick ratio of 17.70 and a current ratio of 18.54. The stock has a market cap of $855.66 million, a P/E ratio of 5.67 and a beta of 1.17.

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

Adamas Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Tuesday, June 23rd were issued a dividend of $0.27 per share. This is an increase from Adamas Trust’s previous quarterly dividend of $0.23. This represents a $1.08 dividend on an annualized basis and a yield of 11.3%. The ex-dividend date was Tuesday, June 23rd. Adamas Trust’s dividend payout ratio is presently 64.29%.

Institutional Investors Weigh In On Adamas Trust

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

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.