Agree Realty Co. (ADC) Expected to Announce Earnings of $0.72 Per Share

Equities analysts expect that Agree Realty Co. (NYSE:ADC) will announce earnings per share (EPS) of $0.72 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Agree Realty’s earnings, with estimates ranging from $0.71 to $0.73. Agree Realty posted earnings of $0.67 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.5%. The firm is expected to report its next earnings report on Monday, July 23rd.

According to Zacks, analysts expect that Agree Realty will report full year earnings of $2.91 per share for the current fiscal year, with EPS estimates ranging from $2.88 to $2.95. For the next year, analysts anticipate that the firm will post earnings of $3.10 per share, with EPS estimates ranging from $3.05 to $3.15. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Agree Realty.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Monday, April 23rd. The real estate investment trust reported $0.53 EPS for the quarter, missing the 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 business had revenue of $34.57 million during the quarter, compared to analyst estimates of $33.45 million.

ADC has been the topic of a number of research analyst reports. B. Riley set a $58.00 price target on Agree Realty and gave the stock a “buy” rating in a research note on Friday, February 23rd. Zacks Investment Research lowered Agree Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Agree Realty in a research note on Thursday, March 1st. Finally, ValuEngine raised Agree Realty from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $55.13.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Agree Realty by 4.7% during the first quarter. BlackRock Inc. now owns 4,484,842 shares of the real estate investment trust’s stock worth $215,452,000 after buying an additional 203,032 shares in the last quarter. Deutsche Bank AG lifted its position in Agree Realty by 5.6% during the fourth quarter. Deutsche Bank AG now owns 2,301,712 shares of the real estate investment trust’s stock worth $118,396,000 after buying an additional 121,865 shares in the last quarter. Principal Financial Group Inc. lifted its position in Agree Realty by 46.5% during the first quarter. Principal Financial Group Inc. now owns 1,351,388 shares of the real estate investment trust’s stock worth $64,922,000 after buying an additional 429,009 shares in the last quarter. Northern Trust Corp lifted its position in Agree Realty by 3.0% during the first quarter. Northern Trust Corp now owns 911,835 shares of the real estate investment trust’s stock worth $43,804,000 after buying an additional 26,202 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Agree Realty by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 734,334 shares of the real estate investment trust’s stock worth $37,774,000 after buying an additional 28,951 shares in the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

ADC traded up $0.61 during trading on Friday, hitting $53.80. The company’s stock had a trading volume of 2,552 shares, compared to its average volume of 233,534. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.61. Agree Realty has a twelve month low of $43.74 and a twelve month high of $54.16. The firm has a market cap of $1.55 billion, a P/E ratio of 19.75, a PEG ratio of 3.66 and a beta of 0.39.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Investors 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 yield of 4.01%. Agree Realty’s dividend payout ratio (DPR) is presently 76.47%.

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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