Agree Realty (NYSE:ADC) is scheduled to announce its earnings results after the market closes on Monday, April 23rd. Analysts expect the company to announce earnings of $0.71 per share for the quarter.
Agree Realty (NYSE:ADC) last released its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. The company had revenue of $31.52 million for the quarter, compared to the consensus estimate of $31.46 million. Agree Realty had a net margin of 49.86% and a return on equity of 7.22%. Agree Realty’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 EPS. On average, analysts expect Agree Realty to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of ADC stock opened at $48.09 on Friday. The firm has a market cap of $1,423.50, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 3.37 and a beta of 0.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.15 and a quick ratio of 2.15. Agree Realty has a 12 month low of $43.74 and a 12 month high of $53.65.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Friday, March 30th were paid a dividend of $0.52 per share. The ex-dividend date was Wednesday, March 28th. This represents a $2.08 dividend on an annualized basis and a yield of 4.33%. Agree Realty’s dividend payout ratio (DPR) is presently 76.47%.
In other news, Director John Rakolta, Jr. bought 12,500 shares of Agree Realty stock in a transaction dated Thursday, March 1st. The stock was purchased at an average price of $47.19 per share, for a total transaction of $589,875.00. Following the purchase, the director now directly owns 189,933 shares in the company, valued at approximately $8,962,938.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.
A number of analysts have commented on ADC shares. ValuEngine upgraded shares of Agree Realty from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. B. Riley set a $58.00 price target on shares of Agree Realty and gave the company a “buy” rating in a research note on Friday, February 23rd. Ladenburg Thalmann set a $55.00 price target on shares of Agree Realty and gave the company a “buy” rating in a research note on Friday, January 19th. Stifel Nicolaus restated a “buy” rating and set a $55.00 price target on shares of Agree Realty in a research note on Thursday, January 4th. Finally, Zacks Investment Research upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $55.13.
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About Agree Realty
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 December 31, 2017, the Company owned and operated a portfolio of 436 properties, located in 43 states and containing approximately 8.7 million square feet of gross leasable space.
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