Adamas Trust (NASDAQ:ADAM) Reaches New 12-Month High Following Dividend Announcement

Adamas Trust, Inc. (NASDAQ:ADAM)’s stock price hit a new 52-week high on Friday after the company announced a dividend. The stock traded as high as $9.44 and last traded at $9.3740, with a volume of 9677 shares. The stock had previously closed at $9.11.

The newly announced dividend which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 23rd will be paid 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 11.6%. The ex-dividend date is Tuesday, June 23rd. Adamas Trust’s dividend payout ratio is presently 78.63%.

Wall Street Analysts Forecast Growth

ADAM has been the topic of several analyst reports. JonesTrading boosted their price target on shares of Adamas Trust from $7.50 to $9.50 and gave the company a “buy” rating in a 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. B. Riley Financial cut shares of Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price target on the stock. in a research note on Thursday, April 30th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Adamas Trust from $8.25 to $9.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.33.

Adamas Trust Stock Up 2.0%

The firm has a market cap of $835.25 million, a price-to-earnings ratio of 7.93 and a beta of 1.17. The business has a fifty day simple moving average of $8.42. The company has a debt-to-equity ratio of 11.91, a quick ratio of 17.70 and a current ratio of 17.69.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.29 EPS for the quarter, topping 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 firm had revenue of $45.81 million for the quarter, compared to analysts’ expectations of $40.00 million. On average, equities research analysts forecast that Adamas Trust, Inc. will post 1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new position in Adamas Trust in the fourth quarter valued at approximately $28,000. Atwood & Palmer Inc. acquired a new stake in shares of Adamas Trust in the 4th quarter valued at approximately $29,000. Kestra Advisory Services LLC bought a new position in shares of Adamas Trust in the fourth quarter valued at $31,000. PNC Financial Services Group Inc. bought a new position in shares of Adamas Trust in the fourth quarter valued at $42,000. Finally, Hillsdale Investment Management Inc. acquired a new position in Adamas Trust during the first quarter worth $60,000. 54.89% of the stock is 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.