Overview
Adamas Trust Q3 net income attributable to common stockholders is $32.7 mln
Company reports Q3 EPS of $0.36
Adamas Trust increases common stock dividend to $0.23 per share
Outlook
Adamas Trust did not provide specific financial guidance for future quarters in the press release
Result Drivers
INVESTMENT ACTIVITY - Acquired $1.8 bln in Agency investments and $525.7 mln in residential loans, boosting investment portfolio
STRATEGIC ACQUISITION - Acquired remaining 50% interest in Constructive Loans, LLC, enhancing loan origination capabilities
FINANCING ACTIVITIES - Issued $115 mln in senior notes and completed securitizations, generating $619.2 mln in net proceeds
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.36
Q3 Net Interest Income
$36.58 mln
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "hold"
Wall Street's median 12-month price target for Adamas Trust Inc is $7.50, about 8.7% above its October 28 closing price of $6.85
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago
Press Release: ID:nGNX9Cbwqp
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
