Adamas Trust (NASDAQ:ADAM) Hits New 52-Week High – Should You Buy?

Adamas Trust, Inc. (NASDAQ:ADAM)’s stock price reached a new 52-week high on Friday . The stock traded as high as $9.54 and last traded at $9.5250, with a volume of 259482 shares. The stock had previously closed at $9.33.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. B. Riley Financial lowered Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price objective on the stock. in a report on Thursday, April 30th. Weiss Ratings raised shares of Adamas Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, April 24th. One 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, Adamas Trust presently has a consensus rating of “Hold” and an average price target of $9.33.

Adamas Trust Stock Up 1.1%

The stock has a market capitalization of $847.83 million, a price-to-earnings ratio of 8.08 and a beta of 1.17. The company has a debt-to-equity ratio of 11.91, a current ratio of 17.69 and a quick ratio of 17.70. The business’s 50 day moving average is $8.75.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The company had revenue of $45.81 million for the quarter, compared to analyst estimates of $40.00 million. Adamas Trust had a return on equity of 14.29% and a net margin of 24.14%. Research analysts forecast that Adamas Trust, Inc. will post 1.05 EPS for the current fiscal year.

Adamas Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, June 23rd will be issued a dividend of $0.27 per share. This is a boost from Adamas Trust’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $1.08 annualized dividend and a dividend yield of 11.4%. Adamas Trust’s payout ratio is presently 92.31%.

Hedge Funds Weigh In On Adamas Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADAM. Wolverine Asset Management LLC purchased a new position in shares of Adamas Trust in the 4th quarter worth approximately $2,905,000. New York State Teachers Retirement System bought a new stake in shares of Adamas Trust in the 4th quarter worth approximately $940,000. Intech Investment Management LLC purchased a new position in shares of Adamas Trust during the 4th quarter valued at $1,540,000. UBS Group AG purchased a new stake in Adamas Trust in the 4th quarter worth about $2,338,000. Finally, M&T Bank Corp bought a new stake in Adamas Trust in the 4th quarter valued at about $75,000. 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.