Adamas Trust (NASDAQ:ADAM) Price Target Raised to $9.50 at JonesTrading

Adamas Trust (NASDAQ:ADAM) had its target price hoisted by analysts at JonesTrading from $7.50 to $9.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. JonesTrading’s price target indicates a potential upside of 14.60% from the company’s previous close.

Separately, Weiss Ratings began coverage on Adamas Trust in a research report on Wednesday, January 14th. They issued a “hold (c-)” rating for the company. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.25.

Adamas Trust Stock Up 3.1%

Shares of ADAM opened at $8.29 on Friday. Adamas Trust has a 1-year low of $5.01 and a 1-year high of $8.76. The company has a market capitalization of $748.67 million, a P/E ratio of 7.54 and a beta of 1.12. The company has a current ratio of 12.44, a quick ratio of 12.43 and a debt-to-equity ratio of 12.30.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). 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%.

Institutional Investors Weigh In On Adamas Trust

Large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC bought a new position in shares of Adamas Trust during the fourth quarter valued at approximately $65,000. Yousif Capital Management LLC purchased a new position in Adamas Trust during the 4th quarter valued at $166,000. State of Alaska Department of Revenue bought a new position in Adamas Trust in the 4th quarter worth $307,000. CWM LLC bought a new position in Adamas Trust in the 4th quarter worth $73,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Adamas Trust in the 4th quarter worth about $127,000. 54.89% of the stock is currently owned by institutional investors.

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.