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.
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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