$46.82 Million in Sales Expected for Agree Realty Co. (NYSE:ADC) This Quarter

Wall Street analysts expect Agree Realty Co. (NYSE:ADC) to report $46.82 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Agree Realty’s earnings. The lowest sales estimate is $45.02 million and the highest is $47.90 million. Agree Realty reported sales of $37.31 million during the same quarter last year, which indicates a positive year over year growth rate of 25.5%. The company is expected to issue its next earnings report on Monday, October 28th.

On average, analysts expect that Agree Realty will report full-year sales of $183.15 million for the current year, with estimates ranging from $177.45 million to $187.29 million. For the next fiscal year, analysts expect that the business will post sales of $216.53 million, with estimates ranging from $182.02 million to $235.28 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Agree Realty.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.29). Agree Realty had a return on equity of 5.19% and a net margin of 39.76%. The company had revenue of $44.92 million during the quarter, compared to analysts’ expectations of $44.05 million.

In related news, Director Farris G. Kalil sold 1,034 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $63.70, for a total transaction of $65,865.80. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, valued at $509,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Craig Erlich bought 750 shares of Agree Realty stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average cost of $67.47 per share, with a total value of $50,602.50. Following the acquisition, the director now owns 13,023 shares of the company’s stock, valued at $878,661.81. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 10,800 shares of company stock valued at $695,777. 3.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its holdings in Agree Realty by 555.2% in the first quarter. Nisa Investment Advisors LLC now owns 1,900 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 1,610 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Agree Realty by 224.6% in the first quarter. Quadrant Capital Group LLC now owns 1,993 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 1,379 shares in the last quarter. Hanseatic Management Services Inc. purchased a new position in Agree Realty in the first quarter valued at $157,000. Landsberg Bennett & Dubbaneh LLC purchased a new position in Agree Realty in the first quarter valued at $202,000. Finally, Janney Montgomery Scott LLC purchased a new position in Agree Realty in the first quarter valued at $217,000. 95.38% of the stock is owned by hedge funds and other institutional investors.

Shares of Agree Realty stock traded up $0.05 during trading on Monday, hitting $70.62. 863,738 shares of the company’s stock were exchanged, compared to its average volume of 272,124. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.50. The firm’s 50-day simple moving average is $65.88. Agree Realty has a 52-week low of $50.72 and a 52-week high of $71.08. The company has a market cap of $2.90 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 3.87 and a beta of 0.06.

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 March 31, 2019, the Company owned and operated a portfolio of 694 properties, located in 46 states and containing approximately 11.9 million square feet of gross leasable space.

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

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