Van ECK Associates Corp Decreases Stake in Adamas Trust, Inc. $ADAM

Van ECK Associates Corp lessened its holdings in shares of Adamas Trust, Inc. (NASDAQ:ADAM) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 880,853 shares of the company’s stock after selling 71,384 shares during the quarter. Van ECK Associates Corp’s holdings in Adamas Trust were worth $8,262,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Adamas Trust in the second quarter valued at about $34,000. Kestra Advisory Services LLC acquired a new position in Adamas Trust during the fourth quarter worth about $31,000. PNC Financial Services Group Inc. purchased a new stake in Adamas Trust during the 4th quarter valued at about $42,000. Hillsdale Investment Management Inc. purchased a new stake in Adamas Trust during the 1st quarter valued at about $60,000. Finally, CWM LLC purchased a new stake in Adamas Trust during the 4th quarter valued at about $73,000. Hedge funds and other institutional investors own 54.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ADAM shares. Wall Street Zen cut Adamas Trust from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. JonesTrading reaffirmed a “buy” rating and issued a $10.00 price target on shares of Adamas Trust in a report on Tuesday. UBS Group lifted their price objective on Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Zacks Research raised Adamas Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Adamas Trust in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Adamas Trust Price Performance

Shares of ADAM stock opened at $9.61 on Wednesday. The company has a debt-to-equity ratio of 11.89, a current ratio of 18.54 and a quick ratio of 18.54. The firm’s 50-day moving average is $9.41 and its two-hundred day moving average is $8.69. Adamas Trust, Inc. has a 12 month low of $6.45 and a 12 month high of $10.36. The company has a market capitalization of $863.75 million, a PE ratio of 5.72 and a beta of 1.18.

Adamas Trust (NASDAQ:ADAM) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. The business had revenue of $47.92 million during the quarter, compared to analysts’ expectations of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. Analysts predict that Adamas Trust, Inc. 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. Shareholders of record on Tuesday, September 22nd will be given a $0.30 dividend. This is an increase from Adamas Trust’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 12.5%. The ex-dividend date is Tuesday, September 22nd. Adamas Trust’s dividend payout ratio (DPR) is presently 64.29%.

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.