Equities analysts predict that Agree Realty Co. (NYSE:ADC) will report $39.49 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Agree Realty’s earnings, with estimates ranging from $37.59 million to $40.54 million. Agree Realty reported sales of $31.53 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 25.2%. The company is expected to issue its next earnings report on Thursday, February 28th.
According to Zacks, analysts expect that Agree Realty will report full-year sales of $147.03 million for the current year, with estimates ranging from $145.15 million to $148.12 million. For the next financial year, analysts forecast that the company will report sales of $179.29 million, with estimates ranging from $151.69 million to $192.13 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Agree Realty.
Agree Realty (NYSE:ADC) last released its quarterly earnings results on Monday, October 22nd. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.10. The firm had revenue of $37.31 million for the quarter, compared to analysts’ expectations of $36.97 million. Agree Realty had a return on equity of 6.46% and a net margin of 44.17%.
Several brokerages have recently commented on ADC. Jefferies Financial Group set a $58.00 price objective on Agree Realty and gave the company a “hold” rating in a research report on Monday, September 17th. ValuEngine upgraded Agree Realty from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Raymond James increased their price objective on Agree Realty from $59.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, December 10th. Finally, Citigroup increased their price objective on Agree Realty from $57.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, December 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $61.13.
Shares of Agree Realty stock opened at $60.74 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $2.02 billion, a PE ratio of 22.33, a PEG ratio of 3.79 and a beta of 0.14. Agree Realty has a 12 month low of $43.74 and a 12 month high of $63.00.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 4th. Stockholders of record on Friday, December 21st were given a dividend of $0.555 per share. The ex-dividend date of this dividend was Thursday, December 20th. This is a positive change from Agree Realty’s previous quarterly dividend of $0.54. This represents a $2.22 annualized dividend and a dividend yield of 3.65%. Agree Realty’s dividend payout ratio is 81.62%.
In other news, COO Laith Hermiz sold 3,500 shares of the stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $58.00, for a total transaction of $203,000.00. Following the transaction, the chief operating officer now directly owns 28,328 shares in the company, valued at approximately $1,643,024. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of ADC. Motley Fool Wealth Management LLC bought a new stake in shares of Agree Realty in the 3rd quarter worth approximately $203,000. Marshall Wace LLP bought a new stake in shares of Agree Realty in the 3rd quarter worth approximately $230,000. Fox Run Management L.L.C. bought a new stake in shares of Agree Realty in the 3rd quarter worth approximately $239,000. Vident Investment Advisory LLC bought a new stake in shares of Agree Realty in the 2nd quarter worth approximately $242,000. Finally, Telemus Capital LLC bought a new stake in shares of Agree Realty in the 3rd quarter worth approximately $293,000.
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 September 30, 2018, the Company owned and operated a portfolio of 520 properties, located in 45 states and containing approximately 10.0 million square feet of gross leasable space.
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