Adamas Trust (NASDAQ:ADAM) Releases Earnings Results, Beats Estimates By $0.05 EPS

Adamas Trust (NASDAQ:ADAM) announced its quarterly earnings data on Wednesday. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05, FiscalAI reports. Adamas Trust had a return on equity of 14.29% and a net margin of 24.14%.

Adamas Trust Stock Down 0.7%

Shares of ADAM stock traded down $0.06 on Wednesday, hitting $8.65. The company had a trading volume of 695,354 shares, compared to its average volume of 758,413. The stock has a market capitalization of $777.29 million, a price-to-earnings ratio of 7.39 and a beta of 1.16. The company’s 50-day simple moving average is $9.07. The company has a current ratio of 17.69, a quick ratio of 17.70 and a debt-to-equity ratio of 11.91. Adamas Trust has a twelve month low of $6.16 and a twelve month high of $9.59.

Adamas Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date was Tuesday, June 23rd. This is an increase from Adamas Trust’s previous quarterly dividend of $0.23. Adamas Trust’s dividend payout ratio (DPR) is 92.31%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new position in Adamas Trust in the fourth quarter valued at approximately $28,000. Atwood & Palmer Inc. acquired a new position in shares of Adamas Trust in the 4th quarter valued at $29,000. Kestra Advisory Services LLC acquired a new position in shares of Adamas Trust in the 4th quarter valued at $31,000. PNC Financial Services Group Inc. purchased a new stake in Adamas Trust during the fourth quarter worth $42,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in Adamas Trust during the first quarter worth $60,000. 54.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADAM has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. B. Riley Financial lowered shares of Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price target for the company. in a research report on Thursday, April 30th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Adamas Trust currently has a consensus rating of “Hold” and a consensus price target of $9.33.

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.