Adamas Trust’s (ADAM) “Buy” Rating Reiterated at JonesTrading

Adamas Trust (NASDAQ:ADAM)‘s stock had its “buy” rating restated by analysts at JonesTrading in a research note issued on Friday, Benzinga reports. They presently have a $10.00 price target on the stock. JonesTrading’s price target points to a potential upside of 10.68% from the company’s current price.

A number of other research analysts also recently commented on ADAM. Zacks Research raised shares of Adamas Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. UBS Group upped their price objective on shares of Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Wednesday, August 19th. Finally, Wall Street Zen lowered Adamas Trust from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Adamas Trust currently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Adamas Trust Stock Down 1.3%

ADAM traded down $0.12 on Friday, reaching $9.04. The company’s stock had a trading volume of 314,163 shares, compared to its average volume of 773,952. The company has a market capitalization of $812.07 million, a price-to-earnings ratio of 5.38 and a beta of 1.18. Adamas Trust has a fifty-two week low of $6.45 and a fifty-two week high of $10.36. The company has a quick ratio of 18.54, a current ratio of 18.54 and a debt-to-equity ratio of 11.89. The stock has a 50 day moving average of $9.45 and a two-hundred day moving average of $8.76.

Adamas Trust (NASDAQ:ADAM) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The company had revenue of $47.92 million for 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%. As a group, analysts forecast that Adamas Trust will post 1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ADAM. UBS Group AG acquired a new stake in shares of Adamas Trust during the fourth quarter worth about $2,338,000. Comerica Bank purchased a new stake in shares of Adamas Trust during the 4th quarter worth $169,000. M&T Bank Corp acquired a new stake in shares of Adamas Trust in the fourth quarter valued at about $75,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Adamas Trust during the 4th quarter worth approximately $141,000. Finally, Allworth Financial LP acquired a new position in Adamas Trust during the fourth quarter worth $182,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

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.