Media coverage about Agree Realty (NYSE:ADC) has trended positive recently, Accern reports. Accern identifies positive and negative media coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Agree Realty earned a news sentiment score of 0.41 on Accern’s scale. Accern also assigned media coverage about the real estate investment trust an impact score of 46.0781889955091 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:
Agree Realty (NYSE ADC) traded down $0.61 during trading hours on Friday, hitting $48.97. The company’s stock had a trading volume of 150,733 shares, compared to its average volume of 275,378. The stock has a market capitalization of $1,430.00, a P/E ratio of 23.89, a P/E/G ratio of 3.41 and a beta of 0.56. Agree Realty has a 12-month low of $44.28 and a 12-month high of $53.65. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59.
Agree Realty (NYSE:ADC) last posted its earnings results on Monday, October 23rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.27). The company had revenue of $30.39 million for the quarter, compared to analysts’ expectations of $29.48 million. Agree Realty had a return on equity of 7.27% and a net margin of 49.26%. The company’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. equities analysts forecast that Agree Realty will post 2.7 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, December 19th. This represents a $2.08 annualized dividend and a dividend yield of 4.25%. This is an increase from Agree Realty’s previous quarterly dividend of $0.51. Agree Realty’s dividend payout ratio is currently 101.46%.
Several research firms recently commented on ADC. B. Riley reiterated a “buy” rating on shares of Agree Realty in a research note on Wednesday, November 1st. ValuEngine upgraded Agree Realty from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 price objective on shares of Agree Realty in a research note on Thursday, January 4th. FBR & Co reiterated a “buy” rating and issued a $58.00 price objective on shares of Agree Realty in a research note on Tuesday, October 24th. Finally, Zacks Investment Research upgraded Agree Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $54.63.
In related news, CFO Clayton R. Thelen bought 1,010 shares of the company’s stock in a transaction on Monday, December 11th. The shares were purchased at an average price of $49.56 per share, for a total transaction of $50,055.60. Following the completion of the transaction, the chief financial officer now directly owns 5,073 shares in the company, valued at approximately $251,417.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Rakolta, Jr. bought 3,300 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were bought at an average price of $49.67 per share, for a total transaction of $163,911.00. The disclosure for this purchase can be found here. Corporate insiders own 4.40% of the company’s stock.
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About Agree Realty
Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership). As of December 31, 2016, its portfolio consisted of 366 properties located in 43 states and totaling approximately seven million square feet of gross leasable area (GLA).
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