Adamas Trust (NASDAQ:ADAM) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Adamas Trust (NASDAQ:ADAM) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

Several other equities analysts also recently commented on the company. JonesTrading lowered their price target on Adamas Trust from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Thursday, October 29th. Zacks Research lowered shares of Adamas Trust from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. Keefe, Bruyette & Woods dropped their target price on shares of Adamas Trust from $9.25 to $8.50 and set a “market perform” rating on the stock in a report on Friday, October 30th. Weiss Ratings downgraded shares of Adamas Trust from a “hold (c)” rating to a “sell (d)” rating in a research note on Tuesday. Finally, UBS Group increased their price target on shares of Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Adamas Trust currently has an average rating of “Reduce” and an average price target of $9.25.

Adamas Trust Stock Down 3.9%

Shares of Adamas Trust stock opened at $5.69 on Friday. The company has a current ratio of 19.06, a quick ratio of 18.54 and a debt-to-equity ratio of 16.02. Adamas Trust has a twelve month low of $5.67 and a twelve month high of $10.36. The stock has a market capitalization of $513.86 million, a price-to-earnings ratio of -9.98 and a beta of 1.26. The business’s 50 day simple moving average is $8.07 and its 200-day simple moving average is $8.48.

Adamas Trust (NASDAQ:ADAM) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Adamas Trust had a negative net margin of 0.26% and a positive return on equity of 15.77%. The business had revenue of ($119.44) million during the quarter. Equities research analysts forecast that Adamas Trust will post 1.19 earnings per share for the current year.

Adamas Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Tuesday, September 22nd were issued a dividend of $0.30 per share. This is an increase from Adamas Trust’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, September 22nd. This represents a $1.20 annualized dividend and a yield of 21.1%. Adamas Trust’s dividend payout ratio is -210.53%.

Institutional Trading of Adamas Trust

A number of institutional investors have recently modified their holdings of ADAM. BlackRock Inc. acquired a new position in shares of Adamas Trust in the second quarter valued at about $127,863,000. Bessemer Group Inc. lifted its position in shares of Adamas Trust by 48,152.5% during the first quarter. Bessemer Group Inc. now owns 530,778 shares of the company’s stock valued at $3,907,000 after purchasing an additional 529,678 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Adamas Trust in the 2nd quarter worth approximately $4,657,000. Bank of America Corp DE bought a new position in Adamas Trust in the 2nd quarter valued at $3,461,000. Finally, Legal & General Group Plc purchased a new stake in Adamas Trust during the second quarter worth about $1,892,000. 54.89% of the stock is currently owned by institutional investors.

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.