Adamas Trust (NASDAQ:ADAM) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Adamas Trust (NASDAQ:ADAM) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other research analysts have also weighed in on ADAM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a research note on Tuesday, July 21st. JonesTrading raised their price objective on shares of Adamas Trust from $9.50 to $10.00 and gave the stock a “buy” rating in a report on Thursday. Finally, B. Riley Financial cut shares of Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price objective on the stock. in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Adamas Trust Price Performance

NASDAQ ADAM opened at $9.07 on Friday. Adamas Trust has a one year low of $6.16 and a one year high of $9.59. The company has a debt-to-equity ratio of 11.89, a quick ratio of 17.70 and a current ratio of 18.54. The firm has a market capitalization of $815.03 million, a price-to-earnings ratio of 5.40 and a beta of 1.16. The stock’s 50-day simple moving average is $9.07.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%.The business had revenue of $47.92 million during the quarter, compared to analyst estimates of $47.50 million. Equities analysts anticipate that Adamas Trust will post 1.2 EPS for the current year.

Adamas Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Tuesday, June 23rd were given a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 11.9%. This is a boost from Adamas Trust’s previous quarterly dividend of $0.23. Adamas Trust’s payout ratio is 64.29%.

Hedge Funds Weigh In On Adamas Trust

Hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new stake in shares of Adamas Trust in the fourth quarter valued at approximately $28,000. Atwood & Palmer Inc. bought a new stake in shares of Adamas Trust in the fourth quarter worth $29,000. Kestra Advisory Services LLC acquired a new position in Adamas Trust during the fourth quarter worth $31,000. PNC Financial Services Group Inc. bought a new position in Adamas Trust in the fourth quarter valued at $42,000. Finally, Hillsdale Investment Management Inc. bought a new position in Adamas Trust in the first quarter valued at $60,000. 54.89% of the stock is owned by institutional investors.

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.