Adamas Trust (NASDAQ:ADAM) Issues Earnings Results

Adamas Trust (NASDAQ:ADAM) released its quarterly earnings results on Wednesday. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05, FiscalAI reports. Adamas Trust had a return on equity of 13.52% and a net margin of 24.76%.

Adamas Trust Stock Down 4.7%

NASDAQ:ADAM opened at $7.75 on Thursday. Adamas Trust has a twelve month low of $5.67 and a twelve month high of $8.76. The firm has a market cap of $696.42 million, a price-to-earnings ratio of 7.05 and a beta of 1.08. The company has a debt-to-equity ratio of 12.03, a current ratio of 14.16 and a quick ratio of 14.17. The business’s 50 day moving average is $7.81.

Adamas Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Monday, March 30th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.92 annualized dividend and a dividend yield of 11.9%. Adamas Trust’s payout ratio is 83.64%.

Wall Street Analyst Weigh In

ADAM has been the subject of a number of research reports. JonesTrading increased their price objective on Adamas Trust from $7.50 to $9.50 and gave the stock a “buy” rating in a report on Friday, February 20th. Keefe, Bruyette & Woods boosted their target price on Adamas Trust from $8.25 to $9.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Finally, Weiss Ratings raised shares of Adamas Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.25.

Hedge Funds Weigh In On Adamas Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp bought a new stake in Adamas Trust during the fourth quarter worth $24,607,000. Invesco Ltd. bought a new stake in shares of Adamas Trust in the 4th quarter valued at about $23,172,000. Geode Capital Management LLC acquired a new stake in Adamas Trust in the 4th quarter valued at about $15,702,000. Charles Schwab Investment Management Inc. acquired a new stake in Adamas Trust in the 4th quarter valued at about $13,039,000. Finally, JPMorgan Chase & Co. bought a new position in Adamas Trust during the fourth quarter worth about $4,258,000. 54.89% of the stock is owned by institutional investors.

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.