Adamas Trust (NASDAQ:ADAM) Price Target Raised to $10.00

Adamas Trust (NASDAQ:ADAM) had its price objective lifted by JonesTrading from $9.50 to $10.00 in a research report sent to investors on Thursday,Benzinga reports. JonesTrading currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on ADAM. Weiss Ratings reaffirmed 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 objective for the company. in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Adamas Trust Stock Performance

NASDAQ ADAM opened at $9.07 on Thursday. Adamas Trust has a 52 week low of $6.16 and a 52 week high of $9.59. The company has a debt-to-equity ratio of 11.89, a current ratio of 18.54 and a quick ratio of 17.70. The company has a 50 day moving average price of $9.07. The company has a market cap of $815.03 million, a PE ratio of 5.40 and a beta of 1.16.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. The company had revenue of $47.92 million during the quarter, compared to analysts’ expectations of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. On average, equities research analysts forecast 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 paid a $0.27 dividend. This is a boost from Adamas Trust’s previous quarterly dividend of $0.23. This represents a $1.08 annualized dividend and a dividend yield of 11.9%. The ex-dividend date of this dividend was Tuesday, June 23rd. Adamas Trust’s dividend payout ratio (DPR) is 64.29%.

Institutional Trading of Adamas Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in Adamas Trust in the fourth quarter valued at $28,000. Atwood & Palmer Inc. bought a new stake in shares of Adamas Trust in the 4th quarter valued at about $29,000. Kestra Advisory Services LLC bought a new stake in shares of Adamas Trust in the 4th quarter valued at about $31,000. PNC Financial Services Group Inc. bought a new stake in shares of Adamas Trust in the 4th quarter valued at about $42,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Adamas Trust in the 1st quarter valued at about $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.