Adamas Trust (NASDAQ:ADAM) Shares Down 2.6% – Time to Sell?

Shares of Adamas Trust, Inc. (NASDAQ:ADAM) fell 2.6% during trading on Friday . The stock traded as low as $8.91 and last traded at $8.98. Approximately 848,799 shares traded hands during trading, a decline of 2% from the average daily volume of 867,845 shares. The stock had previously closed at $9.22.

Wall Street Analysts Forecast Growth

ADAM has been the subject of a number of research analyst reports. B. Riley Financial cut Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 price target for the company. in a report on Thursday, April 30th. Weiss Ratings raised shares of Adamas Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.33.

Adamas Trust Stock Down 2.6%

The company has a current ratio of 17.69, a quick ratio of 17.70 and a debt-to-equity ratio of 11.91. The firm’s fifty day moving average is $9.08. The company has a market capitalization of $806.94 million, a price-to-earnings ratio of 7.68 and a beta of 1.16.

Adamas Trust (NASDAQ:ADAM) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. The firm had revenue of $45.81 million for the quarter, compared to the consensus estimate of $40.00 million. Adamas Trust had a return on equity of 14.29% and a net margin of 24.14%. Research analysts forecast that Adamas Trust, Inc. will post 1.05 EPS for the current year.

Adamas Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, June 23rd. This is an increase from Adamas Trust’s previous quarterly dividend of $0.23. This represents a $1.08 dividend on an annualized basis and a dividend yield of 12.0%. Adamas Trust’s dividend payout ratio is presently 92.31%.

Hedge Funds Weigh In On Adamas Trust

Several hedge funds have recently added to or reduced their stakes in ADAM. Royal Bank of Canada lifted its position in Adamas Trust by 2.9% during 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. Public Employees Retirement System of Ohio bought a new position in shares of Adamas Trust in the 4th quarter valued at about $28,000. Atwood & Palmer Inc. acquired a new stake in shares of Adamas Trust during the 4th quarter worth approximately $29,000. Kestra Advisory Services LLC acquired a new stake in shares of Adamas Trust during the 4th quarter worth approximately $31,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Adamas Trust during the fourth quarter worth approximately $42,000. 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.