JonesTrading Reiterates Buy Rating for Adamas Trust (NASDAQ:ADAM)

Adamas Trust (NASDAQ:ADAM)‘s stock had its “buy” rating reaffirmed by research analysts at JonesTrading in a research note issued on Tuesday, Benzinga reports. They presently have a $10.00 target price on the stock. JonesTrading’s price objective suggests a potential upside of 2.67% from the company’s previous close.

A number of other analysts also recently commented on ADAM. UBS Group upped their target price on Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 19th. Wall Street Zen cut Adamas Trust from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Zacks Research raised Adamas Trust from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.50.

Adamas Trust Stock Performance

Shares of ADAM stock opened at $9.74 on Tuesday. The business has a fifty day moving average of $9.40 and a 200 day moving average of $8.68. 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. The firm has a market capitalization of $875.43 million, a price-to-earnings ratio of 5.80 and a beta of 1.17.

Adamas Trust (NASDAQ:ADAM) last issued 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. The company had revenue of $47.92 million for 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, research analysts expect that Adamas Trust will post 1.2 earnings per share for the current year.

Hedge Funds Weigh In On Adamas Trust

A number of large investors have recently added to or reduced their stakes in ADAM. BlackRock Inc. acquired a new stake in shares of Adamas Trust in the second quarter valued at about $127,863,000. State Street Corp purchased a new position in Adamas Trust in the 4th quarter valued at about $24,607,000. Invesco Ltd. acquired a new stake in Adamas Trust in the 4th quarter worth about $23,172,000. Geode Capital Management LLC purchased a new stake in Adamas Trust during the 4th quarter worth approximately $15,702,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Adamas Trust during the fourth quarter valued at approximately $13,039,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

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.