Agree Realty Co. (ADC) Expected to Announce Quarterly Sales of $35.56 Million

Analysts expect Agree Realty Co. (NYSE:ADC) to announce $35.56 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Agree Realty’s earnings. The lowest sales estimate is $34.76 million and the highest is $36.09 million. Agree Realty posted sales of $28.08 million in the same quarter last year, which suggests a positive year over year growth rate of 26.6%. The firm is scheduled to announce its next quarterly earnings results on Monday, July 23rd.

According to Zacks, analysts expect that Agree Realty will report full year sales of $145.43 million for the current year, with estimates ranging from $137.97 million to $150.00 million. For the next year, analysts expect that the firm will report sales of $167.10 million per share, with estimates ranging from $140.16 million to $179.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Agree Realty.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Monday, April 23rd. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.18). Agree Realty had a net margin of 48.16% and a return on equity of 6.97%. The company had revenue of $34.57 million for the quarter, compared to analysts’ expectations of $33.45 million.

Several research firms recently weighed in on ADC. ValuEngine lowered Agree Realty from a “buy” rating to a “hold” rating in a report on Friday, June 1st. Zacks Investment Research raised Agree Realty from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Agree Realty in a research report on Thursday, March 1st. Finally, B. Riley set a $58.00 price objective on Agree Realty and gave the company a “buy” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Agree Realty currently has a consensus rating of “Buy” and a consensus price target of $55.13.

NYSE:ADC traded up $0.61 during midday trading on Monday, hitting $53.80. 2,552 shares of the company traded hands, compared to its average volume of 233,534. Agree Realty has a 12-month low of $43.74 and a 12-month high of $54.16. The firm has a market capitalization of $1.55 billion, a PE ratio of 19.75, a PEG ratio of 3.66 and a beta of 0.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.70 and a current ratio of 0.70.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be given a dividend of $0.54 per share. This is an increase from Agree Realty’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.01%. Agree Realty’s dividend payout ratio is presently 76.47%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Delpha Capital Management LLC bought a new position in shares of Agree Realty during the 4th quarter worth $109,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Agree Realty by 54.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,083 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 1,082 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Agree Realty by 73.5% during the 1st quarter. SG Americas Securities LLC now owns 3,959 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 1,677 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Agree Realty during the 1st quarter worth $209,000. Finally, Amalgamated Bank purchased a new stake in shares of Agree Realty during the 4th quarter worth $211,000. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Company Profile

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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Earnings History and Estimates for Agree Realty (NYSE:ADC)

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