Wall Street brokerages expect that Agree Realty Co. (NYSE:ADC) will report $44.05 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Agree Realty’s earnings, with estimates ranging from $42.52 million to $44.75 million. Agree Realty posted sales of $35.71 million in the same quarter last year, which suggests a positive year-over-year growth rate of 23.4%. The firm is expected to issue its next quarterly earnings report after the market closes on Monday, July 22nd.

According to Zacks, analysts expect that Agree Realty will report full year sales of $180.01 million for the current fiscal year, with estimates ranging from $170.41 million to $183.63 million. For the next fiscal year, analysts forecast that the business will report sales of $210.21 million, with estimates ranging from $173.15 million to $225.39 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Agree Realty.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Monday, April 22nd. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.26). Agree Realty had a net margin of 38.49% and a return on equity of 5.33%. The firm had revenue of $42.35 million for the quarter, compared to analyst estimates of $43.77 million.

Shares of ADC stock traded down $1.77 during trading hours on Friday, reaching $63.16. 244,540 shares of the stock traded hands, compared to its average volume of 258,710. Agree Realty has a 1-year low of $50.72 and a 1-year high of $70.25. The firm has a fifty day moving average of $65.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 3.54 and a beta of 0.08.

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.61%. This is a positive change from Agree Realty’s previous quarterly dividend of $0.56. Agree Realty’s payout ratio is currently 80.00%.

In other news, Director John Rakolta, Jr. purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average price of $64.20 per share, for a total transaction of $642,000.00. Following the completion of the acquisition, the director now directly owns 216,088 shares of the company’s stock, valued at $13,872,849.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Rakolta, Jr. acquired 6,801 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $66.19 per share, for a total transaction of $450,158.19. Following the purchase, the director now owns 206,088 shares in the company, valued at approximately $13,640,964.72. The disclosure for this purchase can be found here. Insiders have bought 17,601 shares of company stock worth $1,145,935 in the last 90 days. 3.10% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ADC. FMR LLC increased its stake in Agree Realty by 172.7% in the 4th quarter. FMR LLC now owns 1,150,010 shares of the real estate investment trust’s stock valued at $67,989,000 after buying an additional 728,368 shares during the period. BlackRock Inc. increased its stake in Agree Realty by 5.2% in the 1st quarter. BlackRock Inc. now owns 6,062,151 shares of the real estate investment trust’s stock valued at $420,349,000 after buying an additional 298,272 shares during the period. Norges Bank acquired a new position in Agree Realty in the 4th quarter valued at approximately $16,518,000. D. E. Shaw & Co. Inc. increased its stake in Agree Realty by 340.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 174,839 shares of the real estate investment trust’s stock valued at $10,336,000 after buying an additional 135,148 shares during the period. Finally, Lasalle Investment Management Securities LLC acquired a new position in Agree Realty in the 4th quarter valued at approximately $4,073,000. Hedge funds and other institutional investors own 97.32% of the company’s stock.

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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