Adamas Trust, Inc. (NASDAQ:ADAM) Stock Now Rated “Reduce” by Wall Street Analysts

Shares of Adamas Trust, Inc. (NASDAQ:ADAM) have received an average rating of “Reduce” from the six analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $9.25.

Several brokerages have weighed in on ADAM. JonesTrading lowered their target price on shares of Adamas Trust from $10.00 to $9.50 and set a “buy” rating for the company in a research note on Thursday, October 29th. Keefe, Bruyette & Woods reduced their price target on Adamas Trust from $9.25 to $8.50 and set a “market perform” rating on the stock in a research report on Friday, October 30th. Zacks Research lowered Adamas Trust from a “hold” rating to a “strong sell” rating in a report on Friday, October 30th. Wall Street Zen cut Adamas Trust from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings downgraded Adamas Trust from a “hold (c)” rating to a “sell (d)” rating in a research note on Tuesday, November 3rd.

Institutional Trading of Adamas Trust

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Adamas Trust during the 2nd quarter worth approximately $127,863,000. Bessemer Group Inc. grew its holdings in shares of Adamas Trust by 48,152.5% during the first quarter. Bessemer Group Inc. now owns 530,778 shares of the company’s stock valued at $3,907,000 after buying an additional 529,678 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Adamas Trust during the second quarter valued at $4,657,000. Bank of America Corp DE purchased a new stake in shares of Adamas Trust during the second quarter valued at $3,461,000. Finally, Legal & General Group Plc acquired a new position in shares of Adamas Trust in the 2nd quarter valued at $1,892,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

Adamas Trust Price Performance

NASDAQ:ADAM opened at $5.69 on Monday. The company’s 50-day simple moving average is $8.07 and its 200-day simple moving average is $8.48. The company has a debt-to-equity ratio of 16.02, a quick ratio of 19.06 and a current ratio of 19.06. Adamas Trust has a fifty-two week low of $5.67 and a fifty-two week high of $10.36. The stock has a market capitalization of $513.84 million, a P/E ratio of -9.98 and a beta of 1.26.

Adamas Trust (NASDAQ:ADAM) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Adamas Trust had a negative net margin of 0.26% and a positive return on equity of 15.77%. The firm had revenue of ($119.44) million during the quarter. On average, equities analysts anticipate that Adamas Trust will post 1.19 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Tuesday, September 22nd were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 21.1%. This is an increase from Adamas Trust’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, September 22nd. Adamas Trust’s dividend payout ratio is currently -210.53%.

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.