Adamas Trust (NASDAQ:ADAM) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Adamas Trust (NASDAQ:ADAM) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

ADAM has been the subject of a number of other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. JonesTrading increased their price target on Adamas Trust from $9.50 to $10.00 and gave the stock a “buy” rating in a research report on Thursday. Wall Street Zen upgraded Adamas Trust from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, B. Riley Financial cut Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price objective for the company. in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Adamas Trust Stock Performance

NASDAQ:ADAM opened at $9.07 on Thursday. Adamas Trust has a 52 week low of $6.16 and a 52 week high of $9.59. The company has a market capitalization of $815.03 million, a price-to-earnings ratio of 5.40 and a beta of 1.16. The business’s 50-day simple moving average is $9.07. The company has a current ratio of 18.54, a quick ratio of 17.70 and a debt-to-equity ratio of 11.89.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings data 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 business had revenue of $47.92 million during the quarter, compared to analysts’ expectations of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. Sell-side analysts anticipate that Adamas Trust will post 1.2 EPS for the current year.

Adamas Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Tuesday, June 23rd were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $1.08 annualized dividend and a dividend yield of 11.9%. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.23. Adamas Trust’s dividend payout ratio (DPR) is 64.29%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp bought a new position in shares of Adamas Trust in the 4th quarter valued at $24,607,000. Invesco Ltd. bought a new stake in shares of Adamas Trust during the 4th quarter worth $23,172,000. Geode Capital Management LLC acquired a new stake in Adamas Trust in the fourth quarter valued at about $15,702,000. Charles Schwab Investment Management Inc. bought a new position in Adamas Trust in the fourth quarter valued at about $13,039,000. Finally, JPMorgan Chase & Co. acquired a new position in Adamas Trust during the fourth quarter worth about $4,258,000. 54.89% of the stock is currently 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.