Adamas Trust (NASDAQ:ADAM) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Adamas Trust (NASDAQ:ADAM) from a buy rating to a hold rating in a research note released on Sunday.

A number of other equities analysts have also commented on ADAM. Zacks Research upgraded shares of Adamas Trust from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. B. Riley Financial downgraded Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 target price for the company. in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. Finally, JonesTrading boosted their price target on Adamas Trust from $9.50 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Adamas Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Adamas Trust Stock Performance

ADAM opened at $9.82 on Friday. The firm has a market capitalization of $882.62 million, a P/E ratio of 5.85 and a beta of 1.17. The firm’s 50 day moving average is $9.11 and its 200-day moving average is $8.47. Adamas Trust has a 52-week low of $6.45 and a 52-week high of $9.92. The company has a quick ratio of 18.54, a current ratio of 18.54 and a debt-to-equity ratio of 11.89.

Adamas Trust (NASDAQ:ADAM) last posted its earnings results on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $47.92 million for 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%. Analysts expect that Adamas Trust will post 1.2 EPS for the current fiscal year.

Adamas Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 23rd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 11.0%. The ex-dividend date of this dividend was Tuesday, June 23rd. This is an increase from Adamas Trust’s previous quarterly dividend of $0.23. Adamas Trust’s payout ratio is presently 64.29%.

Institutional Investors Weigh In On Adamas Trust

A number of institutional investors have recently modified their holdings of ADAM. BlackRock Inc. acquired a new position in Adamas Trust in the second quarter worth about $127,863,000. State Street Corp acquired a new stake in Adamas Trust during the fourth quarter valued at approximately $24,607,000. Invesco Ltd. acquired a new stake in Adamas Trust during the fourth quarter valued at approximately $23,172,000. Geode Capital Management LLC bought a new position in Adamas Trust during the 4th quarter worth approximately $15,702,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Adamas Trust during the 4th quarter worth approximately $13,039,000. Institutional investors and hedge funds own 54.89% of the company’s stock.

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.