Adamas Trust’s (ADAM) Buy Rating Reiterated at JonesTrading

JonesTrading restated their buy rating on shares of Adamas Trust (NASDAQ:ADAM) in a research note released on Tuesday morning,Benzinga reports. JonesTrading currently has a $10.00 price objective on the stock.

Several other analysts also recently weighed in on the company. UBS Group boosted their price target on Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Wednesday, August 19th. Wall Street Zen cut Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a report on Tuesday, July 21st. Finally, Zacks Research raised Adamas Trust from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Adamas Trust Trading Up 0.9%

NASDAQ:ADAM opened at $9.70 on Tuesday. The company has a market capitalization of $871.84 million, a P/E ratio of 5.77 and a beta of 1.18. The company has a current ratio of 18.54, a quick ratio of 18.54 and a debt-to-equity ratio of 11.89. Adamas Trust has a 12 month low of $6.45 and a 12 month high of $10.36. The firm has a fifty day simple moving average of $9.42 and a 200-day simple moving average of $8.71.

Adamas Trust (NASDAQ:ADAM) last released its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. The firm had revenue of $47.92 million for the quarter, compared to the consensus estimate of $47.50 million. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%. On average, equities research analysts anticipate that Adamas Trust will post 1.2 earnings per share for the current year.

Adamas Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, September 22nd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 12.4%. This is a boost from Adamas Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 22nd. Adamas Trust’s dividend payout ratio is 64.29%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADAM. Corient Private Wealth LP purchased a new stake in Adamas Trust in the second quarter valued at $107,000. Amundi purchased a new position in shares of Adamas Trust during the 2nd quarter valued at about $128,000. HighTower Advisors LLC purchased a new position in shares of Adamas Trust during the 2nd quarter valued at about $512,000. California State Teachers Retirement System lifted its holdings in shares of Adamas Trust by 985.9% in the 2nd quarter. California State Teachers Retirement System now owns 896,306 shares of the company’s stock valued at $8,407,000 after buying an additional 813,764 shares during the period. Finally, Greenland Capital Management LP acquired a new position in shares of Adamas Trust in the 2nd quarter valued at about $281,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

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.