Adamas Trust (NASDAQ:ADAM) Raised to “Strong-Buy” at Zacks Research

Adamas Trust (NASDAQ:ADAM) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also weighed in on ADAM. JonesTrading upped their price objective on shares of Adamas Trust from $9.50 to $10.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Adamas Trust in a report on Tuesday, July 21st. B. Riley Financial downgraded Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price target on the stock. in a report on Thursday, April 30th. Finally, Wall Street Zen raised Adamas Trust from a “hold” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.50.

Adamas Trust Stock Up 1.5%

Shares of NASDAQ ADAM opened at $9.07 on Thursday. Adamas Trust has a twelve month low of $6.16 and a twelve month high of $9.59. The company has a market cap of $815.03 million, a price-to-earnings ratio of 5.40 and a beta of 1.16. The firm’s fifty day moving average price is $9.07. The company has a current ratio of 18.54, a quick ratio of 17.70 and a debt-to-equity ratio of 11.89.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new stake in Adamas Trust in the 4th quarter worth approximately $28,000. Atwood & Palmer Inc. purchased a new position in shares of Adamas Trust during the 4th quarter valued at approximately $29,000. Kestra Advisory Services LLC purchased a new position in shares of Adamas Trust during the 4th quarter valued at approximately $31,000. PNC Financial Services Group Inc. purchased a new stake in shares of Adamas Trust during the 4th quarter worth about $42,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Adamas Trust during the 1st quarter worth about $60,000. 54.89% of the stock is owned by institutional investors and hedge funds.

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.