Adamas Trust (NASDAQ:ADAM) Issues Quarterly Earnings Results

Adamas Trust (NASDAQ:ADAM) released its earnings results on Wednesday. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01), FiscalAI reports. The company had revenue of $160.00 million during the quarter. Adamas Trust had a return on equity of 6.41% and a net margin of 11.67%.

Adamas Trust Trading Up 3.7%

Shares of Adamas Trust stock traded up $0.30 during trading hours on Thursday, reaching $8.34. The stock had a trading volume of 253,284 shares, compared to its average volume of 605,635. The company has a debt-to-equity ratio of 12.30, a quick ratio of 12.43 and a current ratio of 12.44. Adamas Trust has a twelve month low of $5.01 and a twelve month high of $8.76. The company has a market cap of $753.19 million, a P/E ratio of 43.89 and a beta of 1.12.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings began coverage on shares of Adamas Trust in a research note on Wednesday, January 14th. They set a “hold (c-)” rating for the company. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Institutional Investors Weigh In On Adamas Trust

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Adamas Trust during the 4th quarter worth about $28,000. Atwood & Palmer Inc. acquired a new position in shares of Adamas Trust during the fourth quarter valued at approximately $29,000. Kestra Advisory Services LLC acquired a new position in shares of Adamas Trust during the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. purchased a new position in Adamas Trust in the 4th quarter valued at $42,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Adamas Trust in the fourth quarter valued at about $65,000. Institutional investors and hedge funds own 54.89% of the company’s stock.

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.