Adamas Trust (NASDAQ:ADAM) Stock Gets Price Target Cut from JonesTrading

Adamas Trust (NASDAQ:ADAM) had its target price reduced by JonesTrading from $10.00 to $9.50 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently weighed in on ADAM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a research note on Monday, October 19th. UBS Group boosted 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. Zacks Research downgraded Adamas Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Wall Street Zen downgraded Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.25.

Adamas Trust Price Performance

ADAM opened at $6.54 on Thursday. The company has a current ratio of 19.06, a quick ratio of 18.54 and a debt-to-equity ratio of 16.02. The stock has a fifty day simple moving average of $8.46 and a two-hundred day simple moving average of $8.54. The company has a market cap of $587.82 million, a price-to-earnings ratio of -11.47 and a beta of 1.22. Adamas Trust has a 12-month low of $6.54 and a 12-month high of $10.36.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Adamas Trust had a negative net margin of 0.26% and a positive return on equity of 15.77%. The company had revenue of ($119.44) million during the quarter. Research analysts predict that Adamas Trust will post 1.19 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Tuesday, September 22nd were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, September 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 18.3%. This is an increase from Adamas Trust’s previous quarterly dividend of $0.27. Adamas Trust’s dividend payout ratio (DPR) is -210.53%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC purchased a new stake in shares of Adamas Trust during the third quarter valued at approximately $123,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Adamas Trust during the third quarter valued at approximately $307,000. Wedbush Securities Inc. bought a new stake in shares of Adamas Trust during the third quarter valued at approximately $412,000. Nisa Investment Advisors LLC raised its holdings in Adamas Trust by 87.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,951 shares of the company’s stock worth $97,000 after acquiring an additional 5,592 shares during the last quarter. Finally, Novem Group raised its holdings in Adamas Trust by 17.4% in the 3rd quarter. Novem Group now owns 13,515 shares of the company’s stock worth $105,000 after acquiring an additional 2,000 shares during the last quarter. 54.89% of the stock is owned by hedge funds and other institutional investors.

Adamas Trust News Roundup

Here are the key news stories impacting Adamas Trust this week:

• Positive Sentiment: Adamas Trust said adjusted book value increased approximately 4% early in the fourth quarter, while the company reduced its $2.9 billion “to-be-announced” (TBA) short position by roughly 76%. The reduction may lower exposure to mortgage-market volatility. Adamas Trust book value and TBA short update
• Positive Sentiment: JonesTrading maintained a “buy” rating, although it lowered its price target from $10.00 to $9.50. The revised target still implies substantial upside from the recent trading level. JonesTrading analyst recommendation
• Neutral Sentiment: Third-quarter adjusted earnings were $0.30 per share, matching consensus and improving from $0.24 a year earlier. The earnings call and results provided no clear earnings surprise to drive a strong bullish reaction. Adamas Trust third-quarter results
• Negative Sentiment: Keefe, Bruyette & Woods cut its price target from $9.25 to $8.50 and assigned a “market perform” rating. Although the target indicates potential upside, the reduction signals less confidence in near-term appreciation. Keefe, Bruyette & Woods analyst recommendation
• Negative Sentiment: Investor concerns remain elevated because Adamas Trust reported a negative net margin, carries very high debt relative to equity, and its valuation and earnings profile remain under pressure. A broader warning article comparing certain dividend payers with failed Office Properties Income Trust may also weigh on sentiment toward higher-risk income-oriented real estate stocks. Warning signs among dividend stocks

Adamas Trust Company Profile

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.