JonesTrading Reaffirms “Buy” Rating for Adamas Trust (NASDAQ:ADAM)

Adamas Trust (NASDAQ:ADAM)‘s stock had its “buy” rating reissued by equities researchers at JonesTrading in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $10.00 target price on the stock. JonesTrading’s target price would suggest a potential upside of 10.68% from the stock’s previous close.

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

Adamas Trust Trading Down 1.3%

ADAM stock traded down $0.12 on Friday, hitting $9.04. 314,163 shares of the company were exchanged, compared to its average volume of 773,952. 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 stock has a market capitalization of $812.07 million, a price-to-earnings ratio of 5.38 and a beta of 1.18. Adamas Trust has a twelve month low of $6.45 and a twelve month high of $10.36. The business’s fifty day moving average is $9.45 and its two-hundred day moving average is $8.76.

Adamas Trust (NASDAQ:ADAM) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The company had revenue of $47.92 million for the quarter, compared to analyst estimates 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 forecast that Adamas Trust will post 1.2 earnings per share for the current year.

Hedge Funds Weigh In On Adamas Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Adamas Trust during the fourth quarter worth $28,000. Kestra Advisory Services LLC acquired a new stake in Adamas Trust during the 4th quarter valued at $31,000. Nykredit A S acquired a new stake in Adamas Trust during the 2nd quarter valued at $36,000. PNC Financial Services Group Inc. purchased a new stake in Adamas Trust during the 4th quarter worth $42,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Adamas Trust during the 2nd quarter worth $48,000. 54.89% of the stock is 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.