JonesTrading restated their buy rating on shares of Adamas Trust (NASDAQ:ADAM – Free Report) in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a $10.00 price objective on the stock.
A number of other equities analysts have also recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Adamas Trust in a report on Tuesday, July 21st. Zacks Research raised Adamas Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Wall Street Zen downgraded Adamas Trust from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Finally, UBS Group lifted their target price on Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.
View Our Latest Research Report on Adamas Trust
Adamas Trust Stock Performance
Adamas Trust (NASDAQ:ADAM – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. The company had revenue of $47.92 million during the quarter, compared to the consensus estimate of $47.50 million. On average, analysts forecast that Adamas Trust will post 1.2 EPS for the current fiscal year.
Adamas Trust Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, September 22nd will be given a dividend of $0.30 per share. This is a boost from Adamas Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $1.20 annualized dividend and a yield of 13.5%. Adamas Trust’s payout ratio is presently 64.29%.
Hedge Funds Weigh In On Adamas Trust
Several hedge funds have recently modified their holdings of ADAM. BlackRock Inc. bought a new stake in Adamas Trust during the second quarter worth about $127,863,000. Bessemer Group Inc. increased its position in shares of Adamas Trust by 48,152.5% during the 1st quarter. Bessemer Group Inc. now owns 530,778 shares of the company’s stock worth $3,907,000 after purchasing an additional 529,678 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Adamas Trust during the 2nd quarter worth approximately $4,657,000. Bank of America Corp DE bought a new stake in shares of Adamas Trust during the 2nd quarter worth approximately $3,461,000. Finally, UBS Group AG bought a new stake in shares of Adamas Trust during the 4th quarter worth approximately $2,338,000. Institutional investors own 54.89% of the company’s stock.
About Adamas Trust
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