Equities analysts expect Agree Realty Co. (NYSE:ADC) to report earnings per share of $0.68 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Agree Realty’s earnings. The highest EPS estimate is $0.68 and the lowest is $0.67. Agree Realty posted earnings of $0.61 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.5%. The business is scheduled to report its next quarterly earnings report on Monday, July 24th.
On average, analysts expect that Agree Realty will report full-year earnings of $2.72 per share for the current financial year, with EPS estimates ranging from $2.69 to $2.75. For the next year, analysts anticipate that the business will report earnings of $2.95 per share, with EPS estimates ranging from $2.89 to $2.99. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Agree Realty.
Agree Realty (NYSE:ADC) last posted its earnings results on Monday, April 24th. The real estate investment trust reported $0.65 EPS for the quarter, meeting analysts’ consensus estimates of $0.65. The business had revenue of $26.56 million for the quarter, compared to the consensus estimate of $26.11 million. Agree Realty had a net margin of 47.05% and a return on equity of 7.88%. The company’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS.
A number of analysts recently weighed in on the stock. FBR & Co restated a “buy” rating on shares of Agree Realty in a research note on Saturday, May 6th. Stifel Nicolaus upped their target price on shares of Agree Realty from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Zacks Investment Research lowered shares of Agree Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th. Jefferies Group LLC restated a “hold” rating and set a $50.00 target price on shares of Agree Realty in a research note on Monday, April 24th. Finally, Wunderlich lowered shares of Agree Realty from a “buy” rating to a “hold” rating and upped their target price for the stock from $49.00 to $51.00 in a research note on Monday, February 27th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $51.75.
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Agree Realty (NYSE:ADC) traded down 1.15% on Tuesday, reaching $44.83. 207,837 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $48.30 and a 200-day moving average of $46.80. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 20.81 and a beta of 0.60. Agree Realty has a one year low of $40.51 and a one year high of $51.50.
In related news, insider Richard Agree purchased 25,000 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were bought at an average cost of $44.73 per share, for a total transaction of $1,118,250.00. Following the completion of the purchase, the insider now directly owns 477,016 shares of the company’s stock, valued at approximately $21,336,925.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William S. Rubenfaer purchased 2,500 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was bought at an average price of $44.92 per share, for a total transaction of $112,300.00. Following the completion of the purchase, the director now directly owns 20,101 shares of the company’s stock, valued at $902,936.92. The disclosure for this purchase can be found here. Insiders have purchased 37,500 shares of company stock worth $1,678,750 over the last 90 days. Insiders own 5.25% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Driehaus Capital Management LLC raised its position in shares of Agree Realty by 67.1% in the first quarter. Driehaus Capital Management LLC now owns 100,641 shares of the real estate investment trust’s stock valued at $4,827,000 after buying an additional 40,417 shares in the last quarter. State Street Corp raised its position in shares of Agree Realty by 9.8% in the first quarter. State Street Corp now owns 716,468 shares of the real estate investment trust’s stock valued at $34,363,000 after buying an additional 63,748 shares in the last quarter. Bank of America Corp DE raised its position in shares of Agree Realty by 109.6% in the first quarter. Bank of America Corp DE now owns 45,162 shares of the real estate investment trust’s stock valued at $2,166,000 after buying an additional 23,611 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Agree Realty by 10.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 111,489 shares of the real estate investment trust’s stock valued at $5,348,000 after buying an additional 10,958 shares in the last quarter. Finally, Invictus RG raised its position in shares of Agree Realty by 1,168.6% in the first quarter. Invictus RG now owns 6,952 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 6,404 shares in the last quarter. Institutional investors own 75.48% of the company’s stock.
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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