Equities research analysts expect Agree Realty Co. (NYSE:ADC) to announce $50.83 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Agree Realty’s earnings. The highest sales estimate is $52.12 million and the lowest is $48.14 million. Agree Realty reported sales of $40.70 million in the same quarter last year, which indicates a positive year over year growth rate of 24.9%. The business is expected to report its next quarterly earnings report on Thursday, February 20th.

On average, analysts expect that Agree Realty will report full-year sales of $186.16 million for the current financial year, with estimates ranging from $183.48 million to $187.36 million. For the next year, analysts anticipate that the company will report sales of $224.06 million, with estimates ranging from $193.56 million to $238.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Agree Realty.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.06. Agree Realty had a return on equity of 5.16% and a net margin of 40.18%. The company had revenue of $48.08 million for the quarter, compared to analysts’ expectations of $47.28 million.

ADC has been the topic of a number of research analyst reports. Wells Fargo & Co reissued a “buy” rating and issued a $82.00 price target on shares of Agree Realty in a report on Friday, August 30th. Berenberg Bank initiated coverage on Agree Realty in a report on Tuesday, October 1st. They issued a “buy” rating and a $82.00 price target on the stock. Zacks Investment Research raised Agree Realty from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Tuesday, September 24th. Finally, ValuEngine cut Agree Realty from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $75.83.

NYSE ADC traded down $1.60 during trading hours on Wednesday, reaching $73.18. The company’s stock had a trading volume of 295,300 shares, compared to its average volume of 297,465. The firm’s 50-day moving average price is $75.66 and its 200-day moving average price is $70.77. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.62. Agree Realty has a 1 year low of $56.46 and a 1 year high of $79.54. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 4.14 and a beta of -0.03.

Several institutional investors and hedge funds have recently modified their holdings of ADC. Pearl River Capital LLC purchased a new stake in shares of Agree Realty during the 2nd quarter worth approximately $80,000. Quadrant Capital Group LLC raised its holdings in shares of Agree Realty by 98.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,216 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 602 shares in the last quarter. Point72 Hong Kong Ltd raised its holdings in shares of Agree Realty by 127.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,076 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 1,164 shares in the last quarter. USA Financial Portformulas Corp raised its holdings in shares of Agree Realty by 8.2% during the 2nd quarter. USA Financial Portformulas Corp now owns 2,905 shares of the real estate investment trust’s stock worth $201,000 after acquiring an additional 221 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Agree Realty during the 3rd quarter worth approximately $202,000.

About Agree Realty

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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