Intech Investment Management LLC Invests $1.54 Million in Adamas Trust, Inc. $ADAM

Intech Investment Management LLC bought a new position in Adamas Trust, Inc. (NASDAQ:ADAM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 210,948 shares of the company’s stock, valued at approximately $1,540,000. Intech Investment Management LLC owned about 0.23% of Adamas Trust as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kingsview Wealth Management LLC bought a new stake in shares of Adamas Trust in the 4th quarter worth about $156,000. Geode Capital Management LLC bought a new stake in shares of Adamas Trust in the 4th quarter worth about $15,702,000. MQS Management LLC bought a new stake in shares of Adamas Trust in the 4th quarter worth about $135,000. FourThought Financial Partners LLC bought a new stake in shares of Adamas Trust in the 4th quarter worth about $305,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Adamas Trust in the 4th quarter worth about $42,000. Institutional investors own 54.89% of the company’s stock.

Adamas Trust Stock Performance

NASDAQ ADAM opened at $8.98 on Friday. Adamas Trust, Inc. has a one year low of $6.16 and a one year high of $9.32. The firm has a 50-day simple moving average of $8.28. The company has a debt-to-equity ratio of 11.91, a current ratio of 17.69 and a quick ratio of 17.70. The firm has a market cap of $806.94 million, a price-to-earnings ratio of 7.68 and a beta of 1.17.

Adamas Trust (NASDAQ:ADAM) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.24 by $0.05. Adamas Trust had a net margin of 24.14% and a return on equity of 14.29%. The business had revenue of $45.81 million during the quarter, compared to analyst estimates of $40.00 million. Equities analysts forecast that Adamas Trust, Inc. will post 1.05 earnings per share for the current year.

Adamas Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Monday, March 30th were issued a $0.23 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.92 annualized dividend and a dividend yield of 10.2%. Adamas Trust’s payout ratio is 78.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ADAM shares. Keefe, Bruyette & Woods boosted their target price on shares of Adamas Trust from $8.25 to $9.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Weiss Ratings raised shares of Adamas Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, April 24th. JonesTrading boosted their target price on shares of Adamas Trust from $7.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, B. Riley Financial lowered 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. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.33.

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.