Adamas Trust (NASDAQ:ADAM) Hits New 12-Month High – Should You Buy?

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

Analyst Ratings Changes

Several research analysts have issued reports on the company. B. Riley Financial cut Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price objective for the company. in a research report on Thursday, April 30th. JonesTrading boosted their target price on shares of Adamas Trust from $9.50 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Adamas Trust from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research raised shares of Adamas Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Adamas Trust in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Adamas Trust Trading Up 0.7%

The firm has a market cap of $854.57 million, a PE ratio of 5.66 and a beta of 1.17. The company has a debt-to-equity ratio of 11.89, a current ratio of 18.54 and a quick ratio of 17.70. The business has a 50-day moving average price of $9.08 and a two-hundred day moving average price of $8.45.

Adamas Trust (NASDAQ:ADAM) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. The business had revenue of $47.92 million for the quarter, compared to analyst estimates of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. Analysts forecast that Adamas Trust, Inc. will post 1.2 EPS for the current year.

Adamas Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 23rd were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, June 23rd. 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 11.4%. Adamas Trust’s dividend payout ratio (DPR) is presently 64.29%.

Institutional Trading of Adamas Trust

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