Brokerages Expect Agree Realty Co. (NYSE:ADC) to Announce $0.87 Earnings Per Share

Brokerages expect that Agree Realty Co. (NYSE:ADC) will report $0.87 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Agree Realty’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.88. Agree Realty posted earnings of $0.76 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.5%. The firm is scheduled to announce its next quarterly earnings report on Monday, July 19th.

According to Zacks, analysts expect that Agree Realty will report full year earnings of $3.48 per share for the current financial year, with EPS estimates ranging from $3.42 to $3.57. For the next fiscal year, analysts forecast that the company will report earnings of $3.72 per share, with EPS estimates ranging from $3.57 to $3.85. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Agree Realty.

Agree Realty (NYSE:ADC) last announced its earnings results on Sunday, May 2nd. The real estate investment trust reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.35). Agree Realty had a net margin of 37.05% and a return on equity of 4.10%.

ADC has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on Agree Realty from $73.50 to $74.25 and gave the company a “buy” rating in a research note on Friday, April 9th. Mizuho downgraded shares of Agree Realty from a “buy” rating to a “neutral” rating and set a $73.00 target price on the stock. in a research note on Thursday, June 3rd. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $75.71.

Shares of Agree Realty stock opened at $73.72 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.49. Agree Realty has a twelve month low of $61.23 and a twelve month high of $73.90. The company has a market capitalization of $4.73 billion, a P/E ratio of 41.89 and a beta of 0.31. The firm’s 50 day moving average is $69.95.

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 11th. Shareholders of record on Friday, May 28th will be given a dividend of $0.217 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Thursday, May 27th. Agree Realty’s dividend payout ratio is presently 80.50%.

A number of institutional investors and hedge funds have recently made changes to their positions in ADC. Intrust Bank NA boosted its position in shares of Agree Realty by 37.7% during the 1st quarter. Intrust Bank NA now owns 6,318 shares of the real estate investment trust’s stock valued at $426,000 after acquiring an additional 1,731 shares during the last quarter. Schroder Investment Management Group acquired a new stake in shares of Agree Realty during the first quarter worth about $992,000. Pendal Group Limited acquired a new position in shares of Agree Realty in the first quarter worth $2,603,000. Teachers Retirement System of The State of Kentucky grew its stake in Agree Realty by 17.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 16,563 shares of the real estate investment trust’s stock worth $1,115,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Agree Realty during the first quarter worth approximately $337,000.

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

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