Adamas Trust (NASDAQ:ADAM) Price Target Cut to $8.50 by Analysts at Keefe, Bruyette & Woods

Adamas Trust (NASDAQ:ADAM) had its price objective decreased by stock analysts at Keefe, Bruyette & Woods from $9.25 to $8.50 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods‘s target price points to a potential upside of 23.82% from the stock’s previous close.

ADAM has been the subject of a number of other research reports. Wall Street Zen cut shares of Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. UBS Group increased their price target on shares of Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. JonesTrading decreased their price objective on Adamas Trust from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Adamas Trust in a research note on Monday, October 19th. Finally, Zacks Research downgraded Adamas Trust from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.25.

Adamas Trust Stock Performance

ADAM stock traded down $0.32 during mid-day trading on Friday, reaching $6.87. 165,270 shares of the stock traded hands, compared to its average volume of 849,420. 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 has a 52 week low of $6.55 and a 52 week high of $10.36. The business has a 50-day moving average of $8.53 and a two-hundred day moving average of $8.55. The firm has a market capitalization of $617.03 million, a PE ratio of -12.08 and a beta of 1.22.

Adamas Trust (NASDAQ:ADAM) last announced its earnings results on Wednesday, October 28th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. Adamas Trust had a negative net margin of 0.26% and a positive return on equity of 15.00%. The business had revenue of ($119.44) million for the quarter. As a group, equities analysts predict that Adamas Trust will post 1.20 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ADAM. Public Employees Retirement System of Ohio bought a new stake in shares of Adamas Trust during the second quarter worth $34,000. Nykredit A S acquired a new stake in Adamas Trust in the second quarter worth about $36,000. Integrated Wealth Concepts LLC bought a new stake in Adamas Trust during the 2nd quarter worth about $48,000. Hillsdale Investment Management Inc. bought a new stake in Adamas Trust during the 1st quarter worth about $60,000. Finally, GAMMA Investing LLC lifted its position in Adamas Trust by 26.1% during the 3rd quarter. GAMMA Investing LLC now owns 9,974 shares of the company’s stock valued at $78,000 after purchasing an additional 2,065 shares during the period. 54.89% of the stock is currently owned by institutional investors.

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.