Adamas Trust, Inc. (NASDAQ:ADAM) Stock Now Rated “Hold” by Sell-Side Brokerages

Adamas Trust, Inc. (NASDAQ:ADAM) has been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $9.50.

ADAM has been the topic of a number of recent analyst reports. UBS Group upped their price target on Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. Zacks Research cut Adamas Trust from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. JonesTrading restated a “buy” rating and set a $10.00 target price on shares of Adamas Trust in a research note on Thursday, September 17th. Finally, Wall Street Zen downgraded Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th.

Institutional Investors Weigh In On Adamas Trust

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in shares of Adamas Trust by 26.1% during the third quarter. GAMMA Investing LLC now owns 9,974 shares of the company’s stock valued at $78,000 after acquiring an additional 2,065 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Adamas Trust in the 2nd quarter valued at approximately $172,000. Integrated Wealth Concepts LLC purchased a new position in shares of Adamas Trust in the 2nd quarter valued at approximately $48,000. Nykredit A S acquired a new stake in Adamas Trust in the 2nd quarter worth approximately $36,000. Finally, Corient Private Wealth LP acquired a new stake in Adamas Trust in the 2nd quarter worth approximately $107,000. Hedge funds and other institutional investors own 54.89% of the company’s stock.

Adamas Trust Trading Down 1.4%

NASDAQ ADAM opened at $7.50 on Thursday. Adamas Trust has a 52 week low of $6.45 and a 52 week high of $10.36. The company has a 50 day moving average price of $9.05 and a 200 day moving average price of $8.80. The company has a quick ratio of 18.54, a current ratio of 18.54 and a debt-to-equity ratio of 11.89. The firm has a market cap of $674.10 million, a PE ratio of 4.46 and a beta of 1.22.

Adamas Trust (NASDAQ:ADAM) last announced its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. The company 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, sell-side analysts forecast that Adamas Trust will post 1.20 EPS for the current fiscal year.

Adamas Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders 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 yield of 16.0%. This is a boost from Adamas Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 22nd. Adamas Trust’s dividend payout ratio (DPR) is 71.43%.

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.