Brokerages expect Agree Realty Co. (NYSE:ADC) to report $0.70 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Agree Realty’s earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.68. Agree Realty posted earnings per share of $0.65 in the same quarter last year, which indicates a positive year-over-year growth rate of 7.7%. The company is expected to issue its next earnings report on Monday, April 23rd.
On average, analysts expect that Agree Realty will report full year earnings of $2.90 per share for the current fiscal year, with EPS estimates ranging from $2.88 to $2.91. For the next fiscal year, analysts forecast that the business will post earnings of $3.11 per share, with EPS estimates ranging from $3.06 to $3.14. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Agree Realty.
Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Thursday, February 22nd. The real estate investment trust reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $31.52 million during the quarter, compared to the consensus estimate of $31.46 million. Agree Realty had a return on equity of 7.22% and a net margin of 49.86%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share.
In other Agree Realty news, Director John Rakolta, Jr. purchased 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was bought at an average cost of $47.19 per share, with a total value of $589,875.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Clayton R. Thelen purchased 1,010 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were acquired at an average cost of $49.56 per share, with a total value of $50,055.60. Following the completion of the transaction, the chief financial officer now directly owns 5,073 shares of the company’s stock, valued at approximately $251,417.88. The disclosure for this purchase can be found here. Company insiders own 4.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd increased its position in Agree Realty by 13.8% in the third quarter. Dynamic Technology Lab Private Ltd now owns 8,790 shares of the real estate investment trust’s stock worth $431,000 after buying an additional 1,069 shares during the last quarter. Stifel Financial Corp increased its position in Agree Realty by 12.8% in the third quarter. Stifel Financial Corp now owns 11,912 shares of the real estate investment trust’s stock worth $586,000 after buying an additional 1,348 shares during the last quarter. Voya Investment Management LLC increased its position in Agree Realty by 13.2% in the second quarter. Voya Investment Management LLC now owns 11,781 shares of the real estate investment trust’s stock worth $540,000 after buying an additional 1,377 shares during the last quarter. New York State Teachers Retirement System increased its position in Agree Realty by 1.8% in the third quarter. New York State Teachers Retirement System now owns 77,726 shares of the real estate investment trust’s stock worth $3,815,000 after buying an additional 1,400 shares during the last quarter. Finally, Macquarie Group Ltd. increased its position in Agree Realty by 12.8% in the second quarter. Macquarie Group Ltd. now owns 12,300 shares of the real estate investment trust’s stock worth $564,000 after buying an additional 1,400 shares during the last quarter. 89.72% of the stock is owned by institutional investors and hedge funds.
Shares of Agree Realty (NYSE ADC) traded up $0.98 during trading on Monday, hitting $48.22. The stock had a trading volume of 248,515 shares, compared to its average volume of 202,958. The stock has a market capitalization of $1,490.00, a P/E ratio of 22.96, a PEG ratio of 3.25 and a beta of 0.45. Agree Realty has a 12-month low of $43.74 and a 12-month high of $53.65. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.57.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 30th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Wednesday, March 28th. Agree Realty’s payout ratio is 99.05%.
Agree Realty Company Profile
Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership). As of December 31, 2016, its portfolio consisted of 366 properties located in 43 states and totaling approximately seven million square feet of gross leasable area (GLA).
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