Wall Street analysts expect that Agree Realty Co. (NYSE:ADC – Get Rating) will announce $101.13 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Agree Realty’s earnings, with the lowest sales estimate coming in at $98.56 million and the highest estimate coming in at $103.45 million. Agree Realty posted sales of $82.55 million during the same quarter last year, which suggests a positive year-over-year growth rate of 22.5%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Agree Realty will report full-year sales of $415.04 million for the current financial year, with estimates ranging from $394.65 million to $427.68 million. For the next year, analysts forecast that the business will report sales of $490.69 million, with estimates ranging from $397.81 million to $518.21 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Agree Realty.
Agree Realty (NYSE:ADC – Get Rating) last issued its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Agree Realty had a net margin of 35.65% and a return on equity of 3.94%. During the same period in the prior year, the firm posted $0.84 EPS.
In other Agree Realty news, CEO Joey Agree purchased 1,749 shares of the firm’s stock in a transaction dated Tuesday, March 22nd. The stock was acquired at an average cost of $64.03 per share, with a total value of $111,988.47. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.
A number of large investors have recently modified their holdings of ADC. Weiss Multi Strategy Advisers LLC bought a new stake in Agree Realty in the 4th quarter valued at about $54,282,000. Millennium Management LLC raised its position in shares of Agree Realty by 171.5% during the 4th quarter. Millennium Management LLC now owns 1,170,357 shares of the real estate investment trust’s stock worth $83,517,000 after buying an additional 739,217 shares in the last quarter. Norges Bank bought a new stake in shares of Agree Realty during the 4th quarter worth about $50,467,000. BlackRock Inc. raised its position in shares of Agree Realty by 4.7% during the 4th quarter. BlackRock Inc. now owns 13,667,653 shares of the real estate investment trust’s stock worth $975,322,000 after buying an additional 615,858 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its position in shares of Agree Realty by 19.3% during the 4th quarter. Centersquare Investment Management LLC now owns 3,590,392 shares of the real estate investment trust’s stock worth $256,210,000 after buying an additional 581,884 shares in the last quarter.
Shares of ADC stock opened at $68.38 on Friday. The company’s fifty day simple moving average is $67.15 and its 200-day simple moving average is $67.30. Agree Realty has a 52 week low of $61.62 and a 52 week high of $75.95. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.53. The company has a market cap of $5.14 billion, a PE ratio of 38.42, a P/E/G ratio of 2.17 and a beta of 0.40.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 14th. Stockholders of record on Tuesday, May 31st will be issued a $0.234 dividend. This represents a $2.81 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Friday, May 27th. Agree Realty’s dividend payout ratio (DPR) is presently 157.87%.
Agree Realty Company Profile (Get Rating)
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 September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.
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