Adamas Trust, Inc. (NASDAQ:ADAM) Declares Quarterly Dividend of $0.27

Adamas Trust, Inc. (NASDAQ:ADAM) announced a quarterly dividend on Thursday, June 11th. Investors of record on Tuesday, June 23rd will be paid a dividend of 0.27 per share on Tuesday, July 28th. This represents a c) annualized dividend and a dividend yield of 11.9%. The ex-dividend date of this dividend is Tuesday, June 23rd. This is a 17.4% increase from Adamas Trust’s previous quarterly dividend of $0.23.

Adamas Trust Stock Up 1.3%

Shares of ADAM opened at $9.11 on Friday. The company has a market capitalization of $818.62 million, a P/E ratio of 7.79 and a beta of 1.17. The company has a quick ratio of 17.70, a current ratio of 17.69 and a debt-to-equity ratio of 11.91. The firm’s 50 day moving average price is $8.42. Adamas Trust has a twelve month low of $6.16 and a twelve month high of $9.32.

Adamas Trust (NASDAQ:ADAM) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. The company had revenue of $45.81 million during the quarter, compared to the consensus estimate of $40.00 million. Adamas Trust had a net margin of 24.14% and a return on equity of 14.29%. On average, sell-side analysts expect that Adamas Trust will post 1.05 EPS for the current year.

Institutional Investors Weigh In On Adamas Trust

A number of hedge funds have recently modified their holdings of ADAM. State Street Corp bought a new stake in shares of Adamas Trust during the 4th quarter valued at $24,607,000. Invesco Ltd. bought a new stake in shares of Adamas Trust during the 4th quarter valued at $23,172,000. Geode Capital Management LLC bought a new stake in shares of Adamas Trust during the 4th quarter valued at $15,702,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Adamas Trust during the 4th quarter valued at $13,039,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Adamas Trust during the 4th quarter valued at $4,258,000. Institutional investors 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.