Brokerages predict that Agree Realty Co. (NYSE:ADC) will report $0.83 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Agree Realty’s earnings. The highest EPS estimate is $0.84 and the lowest is $0.82. Agree Realty posted earnings per share of $0.82 in the same quarter last year, which would suggest a positive year over year growth rate of 1.2%. The business is expected to announce its next earnings report after the market closes on Monday, May 3rd.
On average, analysts expect that Agree Realty will report full-year earnings of $3.47 per share for the current year, with EPS estimates ranging from $3.42 to $3.53. For the next fiscal year, analysts anticipate that the company will post earnings of $3.70 per share, with EPS estimates ranging from $3.57 to $3.80. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Agree Realty.
Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Wednesday, February 17th. The real estate investment trust reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.41). Agree Realty had a return on equity of 4.76% and a net margin of 39.39%.
Several equities research analysts recently commented on the stock. Mizuho lifted their price target on shares of Agree Realty from $67.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus lifted their price objective on shares of Agree Realty from $73.50 to $74.25 and gave the company a “buy” rating in a research note on Thursday, April 15th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $75.61.
NYSE:ADC traded down $0.18 during midday trading on Thursday, hitting $71.34. 893,933 shares of the company were exchanged, compared to its average volume of 715,878. The company has a fifty day simple moving average of $67.15 and a 200 day simple moving average of $65.57. Agree Realty has a fifty-two week low of $54.94 and a fifty-two week high of $72.68. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $4.54 billion, a PE ratio of 38.87 and a beta of 0.25.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 14th. Shareholders of record on Friday, April 30th will be paid a $0.217 dividend. The ex-dividend date is Thursday, April 29th. This is a positive change from Agree Realty’s previous monthly dividend of $0.21. This represents a $2.60 dividend on an annualized basis and a yield of 3.65%. Agree Realty’s payout ratio is currently 80.52%.
In other news, CFO Simon Leopold purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, March 2nd. The shares were acquired at an average cost of $63.75 per share, for a total transaction of $127,500.00. Following the completion of the purchase, the chief financial officer now directly owns 17,529 shares in the company, valued at approximately $1,117,473.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Rakolta, Jr. purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, March 2nd. The shares were purchased at an average price of $63.50 per share, for a total transaction of $635,000.00. Following the completion of the purchase, the director now owns 245,613 shares of the company’s stock, valued at $15,596,425.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 19,870 shares of company stock worth $1,263,111. 2.30% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Amalgamated Bank boosted its holdings in Agree Realty by 3.6% during the fourth quarter. Amalgamated Bank now owns 5,207 shares of the real estate investment trust’s stock worth $347,000 after buying an additional 179 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Agree Realty by 0.3% during the third quarter. Public Employees Retirement System of Ohio now owns 54,503 shares of the real estate investment trust’s stock worth $3,469,000 after buying an additional 185 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in Agree Realty by 3.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 10,100 shares of the real estate investment trust’s stock worth $672,000 after buying an additional 300 shares in the last quarter. Huntington National Bank boosted its holdings in Agree Realty by 63.0% during the fourth quarter. Huntington National Bank now owns 781 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 302 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Agree Realty by 23.5% during the third quarter. Van ECK Associates Corp now owns 1,605 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 305 shares in the last quarter.
Agree Realty Company Profile
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.
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