Bessemer Group Inc. Purchases 529,678 Shares of Adamas Trust, Inc. $ADAM

Bessemer Group Inc. lifted its holdings in shares of Adamas Trust, Inc. (NASDAQ:ADAM) by 48,152.5% during the first quarter, HoldingsChannel reports. The firm owned 530,778 shares of the company’s stock after purchasing an additional 529,678 shares during the quarter. Bessemer Group Inc.’s holdings in Adamas Trust were worth $3,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hillsdale Investment Management Inc. bought a new stake in Adamas Trust in the 1st quarter valued at about $60,000. Principal Financial Group Inc. boosted its stake in Adamas Trust by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 408,275 shares of the company’s stock worth $3,005,000 after purchasing an additional 7,947 shares during the period. Fifth Third Bancorp boosted its position in shares of Adamas Trust by 5,201.8% in the first quarter. Fifth Third Bancorp now owns 23,222 shares of the company’s stock valued at $171,000 after acquiring an additional 22,784 shares during the period. MQS Management LLC boosted its holdings in Adamas Trust by 65.7% in the 1st quarter. MQS Management LLC now owns 30,561 shares of the company’s stock valued at $225,000 after purchasing an additional 12,118 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in Adamas Trust in the 1st quarter worth about $274,000. 54.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. B. Riley Financial lowered shares of Adamas Trust from a “buy” rating to a “neutral” rating and set a $9.50 target price for the company. in a research report on Thursday, April 30th. Weiss Ratings raised shares of Adamas Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.33.

Adamas Trust Stock Up 0.2%

Shares of Adamas Trust stock opened at $8.85 on Wednesday. The company has a debt-to-equity ratio of 11.91, a quick ratio of 17.70 and a current ratio of 17.69. The company has a market cap of $795.26 million, a price-to-earnings ratio of 7.56 and a beta of 1.16. Adamas Trust, Inc. has a 12-month low of $6.16 and a 12-month high of $9.59. The stock has a fifty day moving average price of $9.08.

Adamas Trust (NASDAQ:ADAM) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.29 earnings per share (EPS) for the quarter, beating 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 company had revenue of $45.81 million for the quarter, compared to the consensus estimate of $40.00 million. As a group, sell-side analysts expect that Adamas Trust, Inc. will post 1.05 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 12.2%. The ex-dividend date of this dividend is Tuesday, June 23rd. This is an increase from Adamas Trust’s previous quarterly dividend of $0.23. Adamas Trust’s 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.