Adamas Trust (NASDAQ:ADAM) Stock Falls 5.7% on Analyst Downgrade

Adamas Trust, Inc. (NASDAQ:ADAM) traded down 5.7% on Monday after Keefe, Bruyette & Woods lowered their price target on the stock from $9.25 to $8.50. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Adamas Trust traded as low as $6.22 and last traded at $6.1650. Approximately 561,138 shares changed hands during trading, a decline of 34% from the average daily volume of 854,831 shares. The stock had previously closed at $6.54.

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

Institutional Trading of Adamas Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADAM. Royal Bank of Canada lifted its stake in shares of Adamas Trust by 2.9% in the 1st quarter. Royal Bank of Canada now owns 43,261 shares of the company’s stock valued at $318,000 after purchasing an additional 1,214 shares during the period. Novem Group increased its stake in Adamas Trust by 17.4% in the third quarter. Novem Group now owns 13,515 shares of the company’s stock valued at $105,000 after purchasing an additional 2,000 shares in the last quarter. GAMMA Investing LLC raised its holdings in Adamas Trust by 26.1% in the third quarter. GAMMA Investing LLC now owns 9,974 shares of the company’s stock worth $78,000 after purchasing an additional 2,065 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Adamas Trust in the 2nd quarter valued at $34,000. Finally, Nykredit A S bought a new stake in shares of Adamas Trust in the 2nd quarter valued at $36,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

Adamas Trust Stock Performance

The company has a debt-to-equity ratio of 16.02, a current ratio of 19.06 and a quick ratio of 18.54. The stock has a 50-day moving average price of $8.46 and a 200 day moving average price of $8.54. The company has a market cap of $554.11 million, a price-to-earnings ratio of -10.84 and a beta of 1.27.

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

Adamas Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Tuesday, September 22nd were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, September 22nd. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 19.5%. Adamas Trust’s dividend payout ratio is currently -210.53%.

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.