Adamas Trust (NASDAQ:ADAM) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Adamas Trust (NASDAQ:ADAM) released its earnings results on Wednesday. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05, FiscalAI reports. Adamas Trust had a return on equity of 14.90% and a net margin of 29.82%.The business had revenue of $47.92 million for the quarter, compared to the consensus estimate of $47.50 million.

Adamas Trust Stock Performance

ADAM opened at $8.94 on Friday. The firm has a market capitalization of $803.36 million, a PE ratio of 5.32 and a beta of 1.16. Adamas Trust has a one year low of $6.16 and a one year high of $9.59. The business’s 50-day moving average price is $9.07. The company has a debt-to-equity ratio of 11.91, a current ratio of 17.69 and a quick ratio of 17.70.

Adamas Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.23. This represents a $1.08 annualized dividend and a dividend yield of 12.1%. Adamas Trust’s dividend payout ratio is 64.29%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ADAM. Public Employees Retirement System of Ohio acquired a new position in Adamas Trust in the 4th quarter valued at about $28,000. Atwood & Palmer Inc. purchased a new position in shares of Adamas Trust in the 4th quarter valued at about $29,000. Kestra Advisory Services LLC acquired a new stake in shares of Adamas Trust during the 4th quarter valued at approximately $31,000. PNC Financial Services Group Inc. purchased a new stake in Adamas Trust during the fourth quarter worth $42,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Adamas Trust in the 1st quarter worth about $60,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADAM has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. 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 report on Thursday, April 30th. Finally, JonesTrading increased their price objective on shares of Adamas Trust from $9.50 to $10.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.50.

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.