Adamas Trust (NASDAQ:ADAM) Given New $10.00 Price Target at JonesTrading

Adamas Trust (NASDAQ:ADAM) had its target price upped by analysts at JonesTrading from $9.50 to $10.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. JonesTrading’s price target would indicate a potential upside of 11.86% from the company’s current price.

Several other research firms have also recently commented on ADAM. B. Riley Financial cut Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price target for the company. in a research note on Thursday, April 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Adamas Trust presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Adamas Trust Stock Up 3.4%

ADAM stock traded up $0.29 during trading on Thursday, hitting $8.94. The company had a trading volume of 1,799,939 shares, compared to its average volume of 765,650. The company has a 50-day simple moving average of $9.06. The company has a debt-to-equity ratio of 11.91, a quick ratio of 17.70 and a current ratio of 17.69. The stock has a market cap of $803.35 million, a price-to-earnings ratio of 7.64 and a beta of 1.16. Adamas Trust has a 1-year low of $6.16 and a 1-year high of $9.59.

Adamas Trust (NASDAQ:ADAM) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. Adamas Trust had a return on equity of 14.29% and a net margin of 24.14%.The company had revenue of $47.92 million during the quarter, compared to analysts’ expectations of $47.50 million. Sell-side analysts anticipate that Adamas Trust will post 1.05 earnings per share for the current year.

Institutional Investors Weigh In On Adamas Trust

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in Adamas Trust by 2.9% in the 1st quarter. Royal Bank of Canada now owns 43,261 shares of the company’s stock valued at $318,000 after purchasing an additional 1,214 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Adamas Trust during the 4th quarter worth approximately $28,000. Atwood & Palmer Inc. acquired a new stake in shares of Adamas Trust in the 4th quarter valued at approximately $29,000. Kestra Advisory Services LLC acquired a new stake in shares of Adamas Trust in the 4th quarter valued at approximately $31,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Adamas Trust in the fourth quarter valued at approximately $42,000. Hedge funds and other 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.