Adamas Trust (NASDAQ:ADAM) Rating Lowered to Hold at Wall Street Zen

Adamas Trust (NASDAQ:ADAM) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Several other equities analysts also recently commented on the stock. JonesTrading boosted their price target on shares of Adamas Trust from $9.50 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. Zacks Research upgraded Adamas Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Finally, B. Riley Financial downgraded Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price objective for the company. in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Adamas Trust has an average rating of “Moderate Buy” and an average target price of $9.50.

Adamas Trust Trading Down 0.3%

NASDAQ ADAM opened at $9.79 on Friday. The firm has a 50 day simple moving average of $9.13 and a 200-day simple moving average of $8.48. The company has a debt-to-equity ratio of 11.89, a quick ratio of 18.54 and a current ratio of 18.54. Adamas Trust has a one year low of $6.45 and a one year high of $9.91. The firm has a market cap of $879.93 million, a price-to-earnings ratio of 5.83 and a beta of 1.17.

Adamas Trust (NASDAQ:ADAM) last announced its 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 firm had revenue of $47.92 million for the quarter, compared to the consensus estimate of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. Equities research analysts anticipate that Adamas Trust will post 1.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Adamas Trust

Several large investors have recently bought and sold shares of ADAM. BlackRock Inc. purchased a new stake in Adamas Trust during the 2nd quarter worth about $127,863,000. State Street Corp purchased a new position in shares of Adamas Trust in the 4th quarter valued at about $24,607,000. Invesco Ltd. acquired a new stake in shares of Adamas Trust during the 4th quarter worth about $23,172,000. Geode Capital Management LLC acquired a new stake in shares of Adamas Trust during the 4th quarter worth about $15,702,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Adamas Trust during the 4th quarter worth about $13,039,000. Hedge funds and other institutional investors own 54.89% of the company’s stock.

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.