Agree Realty Co. (NYSE:ADC) will post its quarterly earnings results on Monday, April 24th.
Agree Realty (NYSE:ADC) last posted its earnings results on Thursday, February 23rd. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.26. The company had revenue of $25.30 million for the quarter, compared to analysts’ expectations of $24.68 million. Agree Realty had a return on equity of 7.88% and a net margin of 47.05%. Agree Realty’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. On average, analysts expect Agree Realty to post $1.67 EPS for the current fiscal year and $1.76 EPS for the next fiscal year.
Agree Realty Co. (NYSE:ADC) traded down 0.04% during mid-day trading on Friday, hitting $51.08. The company had a trading volume of 143,103 shares. The stock has a market capitalization of $1.32 billion, a PE ratio of 25.93 and a beta of 0.60. The stock has a 50 day moving average price of $48.33 and a 200-day moving average price of $46.77. Agree Realty Co. has a 1-year low of $38.59 and a 1-year high of $51.33.
The company also recently announced a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were paid a $0.495 dividend. The ex-dividend date of this dividend was Wednesday, March 29th. This represents a $1.98 annualized dividend and a yield of 3.88%. Agree Realty’s dividend payout ratio (DPR) is 106.45%.
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Several equities research analysts have weighed in on the stock. Wunderlich downgraded shares of Agree Realty from a “buy” rating to a “hold” rating and raised their target price for the company from $49.00 to $51.00 in a research note on Monday, February 27th. They noted that the move was a valuation call. Jefferies Group LLC restated a “hold” rating and issued a $49.00 target price on shares of Agree Realty in a research note on Monday. Zacks Investment Research downgraded shares of Agree Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th. Stifel Nicolaus lowered their target price on shares of Agree Realty from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, January 6th. Finally, Wells Fargo & Co assumed coverage on shares of Agree Realty in a research note on Thursday, January 26th. They issued a “market perform” rating for the company. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Agree Realty has a consensus rating of “Hold” and a consensus target price of $51.50.
Agree Realty Company Profile
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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