Adamas Trust (NASDAQ:ADAM) Price Target Raised to $9.00

Adamas Trust (NASDAQ:ADAM) had its target price upped by equities research analysts at Keefe, Bruyette & Woods from $8.25 to $9.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 8.56% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. JonesTrading increased their target price on shares of Adamas Trust from $7.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings initiated coverage on Adamas Trust in a research report on Wednesday, January 14th. They issued a “hold (c-)” rating on the stock. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.25.

Adamas Trust Stock Up 3.1%

Shares of Adamas Trust stock opened at $8.29 on Friday. Adamas Trust has a 12 month low of $5.01 and a 12 month high of $8.76. The firm has a market capitalization of $748.67 million, a PE ratio of 7.54 and a beta of 1.12. The company has a debt-to-equity ratio of 12.30, a quick ratio of 12.43 and a current ratio of 12.44.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Adamas Trust had a return on equity of 13.64% and a net margin of 24.76%.The business had revenue of $160.00 million for the quarter.

Institutional Investors Weigh In On Adamas Trust

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in Adamas Trust during the 4th quarter worth approximately $28,000. Atwood & Palmer Inc. purchased a new stake in shares of Adamas Trust in the fourth quarter valued at approximately $29,000. Kestra Advisory Services LLC purchased a new stake in shares of Adamas Trust in the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. acquired a new position in Adamas Trust during the fourth quarter worth $42,000. Finally, Nisa Investment Advisors LLC purchased a new position in Adamas Trust in the fourth quarter worth $65,000. Hedge funds and other 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.