Adamas Trust, Inc. (NASDAQ:ADAM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Adamas Trust, Inc. (NASDAQ:ADAM) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $9.50.

Several analysts recently weighed in on the stock. Zacks Research raised shares of Adamas Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. JonesTrading reiterated a “buy” rating and issued a $10.00 price target on shares of Adamas Trust in a research report on Thursday, September 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Adamas Trust in a research note on Tuesday, July 21st. UBS Group raised their price objective on Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen lowered Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th.

Adamas Trust Price Performance

Adamas Trust stock opened at $8.14 on Friday. The company has a current ratio of 18.54, a quick ratio of 18.54 and a debt-to-equity ratio of 11.89. The company has a market capitalization of $731.62 million, a PE ratio of 4.85 and a beta of 1.18. Adamas Trust has a 12 month low of $6.45 and a 12 month high of $10.36. The stock has a 50-day moving average price of $9.36 and a two-hundred day moving average price of $8.80.

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

Adamas Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, September 22nd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 14.7%. This is a boost from Adamas Trust’s previous quarterly dividend of $0.27. Adamas Trust’s payout ratio is currently 71.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in Adamas Trust in the second quarter valued at $34,000. Nykredit A S bought a new position in shares of Adamas Trust in the 2nd quarter worth about $36,000. Integrated Wealth Concepts LLC acquired a new position in shares of Adamas Trust in the 2nd quarter valued at about $48,000. Hillsdale Investment Management Inc. acquired a new position in shares of Adamas Trust in the 1st quarter valued at about $60,000. Finally, Calton & Associates Inc. bought a new stake in shares of Adamas Trust during the 4th quarter valued at about $81,000. Institutional investors and hedge funds own 54.89% of the company’s stock.

About Adamas Trust