Agree Realty (ADC) Announces Quarterly Earnings Results

Agree Realty (NYSE:ADC) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.26), Fidelity Earnings reports. Agree Realty had a return on equity of 5.63% and a net margin of 39.23%. The business had revenue of $42.35 million for the quarter, compared to analysts’ expectations of $43.77 million.

Shares of ADC stock traded up $1.13 during mid-day trading on Tuesday, hitting $65.58. The stock had a trading volume of 102,604 shares, compared to its average volume of 310,037. Agree Realty has a fifty-two week low of $47.22 and a fifty-two week high of $70.25. The stock has a market capitalization of $2.45 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 3.60 and a beta of 0.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11.

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a $0.555 dividend. This represents a $2.22 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Thursday, March 28th. Agree Realty’s dividend payout ratio (DPR) is presently 77.89%.

Several brokerages have issued reports on ADC. Wells Fargo & Co raised their price objective on shares of Agree Realty from $67.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. They noted that the move was a valuation call. Raymond James raised their price objective on shares of Agree Realty from $68.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Monday, March 4th. Citigroup raised their price objective on shares of Agree Realty from $61.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 27th. Finally, LADENBURG THALM/SH SH downgraded shares of Agree Realty from a “buy” rating to a “neutral” rating in a research report on Monday, February 11th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $66.33.

In other news, Director Farris G. Kalil sold 701 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $69.49, for a total value of $48,712.49. Following the completion of the sale, the director now owns 9,034 shares in the company, valued at approximately $627,772.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by company insiders.

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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 December 31, 2018, the Company owned and operated a portfolio of 645 properties, located in 46 states and containing approximately 11.2 million square feet of gross leasable space.

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Earnings History for Agree Realty (NYSE:ADC)

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