Wall Street analysts forecast that Agree Realty Corporation (NYSE:ADC) will announce sales of $30.92 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Agree Realty’s earnings. The lowest sales estimate is $29.62 million and the highest is $32.19 million. Agree Realty posted sales of $25.30 million in the same quarter last year, which suggests a positive year-over-year growth rate of 22.2%. The business is scheduled to issue its next earnings report on Thursday, February 22nd.

On average, analysts expect that Agree Realty will report full year sales of $30.92 million for the current fiscal year, with estimates ranging from $114.42 million to $117.22 million. For the next year, analysts anticipate that the business will report sales of $135.69 million per share, with estimates ranging from $121.68 million to $146.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Agree Realty.

Agree Realty (NYSE:ADC) last announced its earnings results on Monday, October 23rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.27). Agree Realty had a return on equity of 7.27% and a net margin of 49.26%. The company had revenue of $30.39 million for the quarter, compared to analyst estimates of $29.48 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. Agree Realty’s revenue for the quarter was up 25.8% on a year-over-year basis.

ADC has been the topic of several analyst reports. B. Riley set a $58.00 price objective on shares of Agree Realty and gave the company a “buy” rating in a report on Tuesday, November 14th. FBR & Co restated a “buy” rating and issued a $58.00 price objective (up from $56.00) on shares of Agree Realty in a report on Monday, September 18th. Zacks Investment Research lowered shares of Agree Realty from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. ValuEngine upgraded shares of Agree Realty from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, BidaskClub upgraded shares of Agree Realty from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $52.78.

Agree Realty (ADC) opened at $49.22 on Tuesday. Agree Realty has a 12-month low of $43.12 and a 12-month high of $51.50. The stock has a market cap of $1,445.89, a P/E ratio of 18.67, a PEG ratio of 3.65 and a beta of 0.56. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 1.63.

In other news, Director John Rakolta, Jr. bought 3,300 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were bought at an average cost of $49.67 per share, for a total transaction of $163,911.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP raised its holdings in Agree Realty by 20.8% in the third quarter. GSA Capital Partners LLP now owns 34,515 shares of the real estate investment trust’s stock worth $1,694,000 after purchasing an additional 5,947 shares during the period. Sterling Capital Management LLC acquired a new stake in Agree Realty in the third quarter worth $989,000. California Public Employees Retirement System raised its holdings in Agree Realty by 7.3% in the third quarter. California Public Employees Retirement System now owns 45,079 shares of the real estate investment trust’s stock worth $2,212,000 after purchasing an additional 3,079 shares during the period. Boothbay Fund Management LLC raised its holdings in Agree Realty by 18.6% in the third quarter. Boothbay Fund Management LLC now owns 11,488 shares of the real estate investment trust’s stock worth $564,000 after purchasing an additional 1,800 shares during the period. Finally, Uniplan Investment Counsel Inc. raised its holdings in Agree Realty by 2.1% in the third quarter. Uniplan Investment Counsel Inc. now owns 403,356 shares of the real estate investment trust’s stock worth $19,796,000 after purchasing an additional 8,196 shares during the period. Institutional investors own 87.06% 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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Earnings History and Estimates for Agree Realty (NYSE:ADC)

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