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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Agree Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agree Realty and related companies with MarketBeat.com's FREE daily email newsletter.