Adamas Trust (NASDAQ:ADAM) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Adamas Trust (NASDAQ:ADAM) from a buy rating to a hold rating in a research report report published on Sunday.

Several other equities analysts also recently weighed in on ADAM. B. Riley Financial downgraded Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 target price on the stock. in a research report on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. Zacks Research upgraded Adamas Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Finally, JonesTrading raised their price objective on Adamas Trust from $9.50 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.50.

Adamas Trust Trading Up 4.5%

Shares of Adamas Trust stock opened at $10.23 on Friday. The company’s fifty day simple moving average is $9.15 and its 200-day simple moving average is $8.50. The stock has a market capitalization of $919.47 million, a PE ratio of 6.09 and a beta of 1.17. Adamas Trust has a 1-year low of $6.45 and a 1-year high of $10.36. The company has a debt-to-equity ratio of 11.89, a current ratio of 18.54 and a quick ratio of 18.54.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The firm had revenue of $47.92 million during the quarter, compared to the consensus estimate of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. As a group, equities analysts anticipate that Adamas Trust will post 1.2 earnings per share for the current year.

Adamas Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, September 22nd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.7%. This is a boost from Adamas Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 22nd. Adamas Trust’s dividend payout ratio is currently 64.29%.

Institutional Trading of Adamas Trust

Several institutional investors and hedge funds have recently modified their holdings of ADAM. Yousif Capital Management LLC purchased a new position in shares of Adamas Trust during the 4th quarter valued at $166,000. State of Alaska Department of Revenue purchased a new stake in Adamas Trust in the 4th quarter worth $307,000. CWM LLC purchased a new stake in Adamas Trust in the 4th quarter worth $73,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Adamas Trust during the fourth quarter valued at about $127,000. Finally, Atwood & Palmer Inc. bought a new stake in Adamas Trust during the fourth quarter valued at about $29,000. 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.