Adamas Trust, Inc. $ADAM Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in shares of Adamas Trust, Inc. (NASDAQ:ADAM) by 14.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,867,614 shares of the company’s stock after selling 498,005 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Adamas Trust were worth $21,077,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in Adamas Trust in the fourth quarter valued at $28,000. Atwood & Palmer Inc. acquired a new position in shares of Adamas Trust in the fourth quarter worth about $29,000. Kestra Advisory Services LLC purchased a new stake in shares of Adamas Trust during the 4th quarter worth about $31,000. PNC Financial Services Group Inc. purchased a new stake in shares of Adamas Trust during the 4th quarter worth about $42,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Adamas Trust during the 1st quarter valued at about $60,000. Institutional investors and hedge funds own 54.89% of the company’s stock.

Wall Street Analyst Weigh In

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

Adamas Trust Price Performance

Shares of Adamas Trust stock opened at $8.83 on Tuesday. The firm has a market capitalization of $793.46 million, a PE ratio of 7.55 and a beta of 1.16. The firm’s 50 day moving average price is $9.08. Adamas Trust, Inc. has a 12 month low of $6.16 and a 12 month high of $9.59. The company has a quick ratio of 17.70, a current ratio of 17.69 and a debt-to-equity ratio of 11.91.

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

Adamas Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of $0.27 per share. This is a boost from Adamas Trust’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $1.08 annualized dividend and a yield of 12.2%. Adamas Trust’s dividend payout ratio is presently 92.31%.

Adamas Trust 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.