Adamas Trust (NASDAQ:ADAM) Reaches New 1-Year High Following Dividend Announcement

Shares of Adamas Trust, Inc. (NASDAQ:ADAM) reached a new 52-week high during mid-day trading on Friday after the company announced a dividend. The company traded as high as $9.44 and last traded at $9.3740, with a volume of 9677 shares traded. The stock had previously closed at $9.11.

The newly announced dividend which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 23rd will be issued a dividend of $0.27 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $1.08 annualized dividend and a dividend yield of 11.6%. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.23. Adamas Trust’s dividend payout ratio is presently 78.63%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ADAM shares. JonesTrading increased their price objective on Adamas Trust from $7.50 to $9.50 and gave the stock a “buy” rating in a report on Friday, February 20th. B. Riley Financial cut shares of Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 target price for the company. in a research note on Thursday, April 30th. Keefe, Bruyette & Woods increased their price target on shares of Adamas Trust from $8.25 to $9.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Finally, Weiss Ratings upgraded shares of Adamas Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.33.

Adamas Trust Trading Up 2.0%

The firm has a market capitalization of $835.25 million, a PE ratio of 7.93 and a beta of 1.17. The business’s fifty day moving average is $8.42. The company has a debt-to-equity ratio of 11.91, a quick ratio of 17.70 and a current ratio of 17.69.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Adamas Trust had a return on equity of 14.29% and a net margin of 24.14%.The company had revenue of $45.81 million during the quarter, compared to analyst estimates of $40.00 million. Sell-side analysts forecast that Adamas Trust, Inc. will post 1.05 earnings per share for the current fiscal year.

Institutional Trading of Adamas Trust

Several hedge funds and other institutional investors have recently bought and sold shares of ADAM. Nisa Investment Advisors LLC bought a new position in shares of Adamas Trust during the 4th quarter worth about $65,000. Yousif Capital Management LLC bought a new position in Adamas Trust during the fourth quarter valued at about $166,000. State of Alaska Department of Revenue acquired a new position in Adamas Trust in the 4th quarter valued at approximately $307,000. CWM LLC acquired a new position in Adamas Trust in the 4th quarter valued at approximately $73,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Adamas Trust in the 4th quarter worth approximately $127,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

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.