Adamas Trust (NASDAQ:ADAM) Stock Price Target Lowered at Keefe, Bruyette & Woods

Adamas Trust (NASDAQ:ADAM) had its target price cut by Keefe, Bruyette & Woods from $9.25 to $8.50 in a research note released on Friday morning,Benzinga reports. They currently have a market perform rating on the stock.

Several other equities analysts also recently weighed in on the company. Zacks Research downgraded Adamas Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Wall Street Zen cut shares of Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. JonesTrading dropped their price target on shares of Adamas Trust from $10.00 to $9.50 and set a “buy” rating on the stock in a research note on Thursday. UBS Group increased their price objective on shares of Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Adamas Trust in a research report on Monday, October 19th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Adamas Trust has a consensus rating of “Hold” and an average price target of $9.25.

Adamas Trust Stock Down 8.9%

ADAM stock opened at $6.54 on Friday. Adamas Trust has a twelve month low of $6.54 and a twelve month high of $10.36. The company has a quick ratio of 18.54, a current ratio of 19.06 and a debt-to-equity ratio of 16.02. The firm has a market cap of $587.82 million, a PE ratio of -11.47 and a beta of 1.22. The business has a 50 day moving average of $8.46 and a 200 day moving average of $8.54.

Adamas Trust (NASDAQ:ADAM) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Adamas Trust had a positive return on equity of 15.77% and a negative net margin of 0.26%. The business had revenue of ($119.44) million during the quarter. On average, research analysts forecast that Adamas Trust will post 1.20 EPS for the current fiscal year.

Adamas Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Tuesday, September 22nd were given a $0.30 dividend. This is a boost from Adamas Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $1.20 annualized dividend and a yield of 18.3%. Adamas Trust’s payout ratio is currently -210.53%.

Institutional Trading of Adamas Trust

Several institutional investors have recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Adamas Trust in the 3rd quarter worth about $307,000. Wedbush Securities Inc. bought a new position in Adamas Trust during the 3rd quarter valued at about $412,000. Nisa Investment Advisors LLC lifted its stake in Adamas Trust by 87.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,951 shares of the company’s stock valued at $97,000 after acquiring an additional 5,592 shares during the period. Novem Group lifted its stake in Adamas Trust by 17.4% during the 3rd quarter. Novem Group now owns 13,515 shares of the company’s stock valued at $105,000 after acquiring an additional 2,000 shares during the period. Finally, SteelPeak Wealth LLC bought a new position in Adamas Trust during the 3rd quarter valued at about $81,000. 54.89% of the stock is currently owned by hedge funds and other institutional investors.

Key Adamas Trust News

Here are the key news stories impacting Adamas Trust this week:

• Positive Sentiment: Adamas Trust said adjusted book value increased approximately 4% early in the fourth quarter, while the company reduced its $2.9 billion “to-be-announced” (TBA) short position by roughly 76%. The reduction may lower exposure to mortgage-market volatility. Adamas Trust book value and TBA short update
• Positive Sentiment: JonesTrading maintained a “buy” rating, although it lowered its price target from $10.00 to $9.50. The revised target still implies substantial upside from the recent trading level. JonesTrading analyst recommendation
• Neutral Sentiment: Third-quarter adjusted earnings were $0.30 per share, matching consensus and improving from $0.24 a year earlier. The earnings call and results provided no clear earnings surprise to drive a strong bullish reaction. Adamas Trust third-quarter results
• Negative Sentiment: Keefe, Bruyette & Woods cut its price target from $9.25 to $8.50 and assigned a “market perform” rating. Although the target indicates potential upside, the reduction signals less confidence in near-term appreciation. Keefe, Bruyette & Woods analyst recommendation
• Negative Sentiment: Investor concerns remain elevated because Adamas Trust reported a negative net margin, carries very high debt relative to equity, and its valuation and earnings profile remain under pressure. A broader warning article comparing certain dividend payers with failed Office Properties Income Trust may also weigh on sentiment toward higher-risk income-oriented real estate stocks. Warning signs among dividend stocks

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.