Adamas Trust (NASDAQ:ADAM) Reaches New 1-Year Low – What’s Next?

Shares of Adamas Trust, Inc. (NASDAQ:ADAM) hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $5.67 and last traded at $5.69, with a volume of 1,934,151 shares traded. The stock had previously closed at $5.92.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADAM. Weiss Ratings cut Adamas Trust from a “hold (c)” rating to a “sell (d)” rating in a report on Tuesday. Zacks Research lowered Adamas Trust from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. Wall Street Zen cut Adamas Trust from a “hold” rating to a “sell” rating in a report on Saturday. UBS Group lifted their price target on Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Finally, JonesTrading reduced their price target on Adamas Trust from $10.00 to $9.50 and set a “buy” rating for the company in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adamas Trust currently has an average rating of “Reduce” and an average price target of $9.25.

Adamas Trust Stock Performance

The firm has a market cap of $513.86 million, a P/E ratio of -9.98 and a beta of 1.26. The company has a debt-to-equity ratio of 16.02, a quick ratio of 18.54 and a current ratio of 19.06. The company’s 50 day moving average is $8.07 and its 200 day moving average is $8.48.

Adamas Trust (NASDAQ:ADAM) last posted its earnings results on Wednesday, October 28th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Adamas Trust had a negative net margin of 0.26% and a positive return on equity of 15.77%. The firm had revenue of ($119.44) million for the quarter. As a group, equities analysts predict that Adamas Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Tuesday, September 22nd were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 21.1%. The ex-dividend date of this dividend was Tuesday, September 22nd. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.27. Adamas Trust’s payout ratio is currently -210.53%.

Hedge Funds Weigh In On Adamas Trust

Several hedge funds have recently modified their holdings of ADAM. BlackRock Inc. bought a new position in shares of Adamas Trust in the second quarter valued at approximately $127,863,000. Bank of New York Mellon Corp bought a new stake in Adamas Trust during the second quarter worth $4,657,000. Bessemer Group Inc. boosted its position in Adamas Trust by 48,152.5% in the first 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 America Corp DE purchased a new position in Adamas Trust in the second quarter worth $3,461,000. Finally, Principal Financial Group Inc. grew its stake in Adamas Trust by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 408,275 shares of the company’s stock valued at $3,005,000 after purchasing an additional 7,947 shares during the period. Institutional investors own 54.89% of the company’s stock.

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.