Agree Realty (NYSE:ADC – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 4.110-4.140 for the period, compared to the consensus EPS estimate of 4.080. The company issued revenue guidance of -. Agree Realty also updated its FY24 guidance to $4.11-4.14 EPS.
Agree Realty Stock Up 0.6 %
NYSE ADC traded up $0.42 during trading on Friday, reaching $68.32. 87,888 shares of the company’s stock were exchanged, compared to its average volume of 928,052. The company has a 50 day moving average price of $62.13 and a two-hundred day moving average price of $59.47. The stock has a market cap of $6.87 billion, a P/E ratio of 39.95, a price-to-earnings-growth ratio of 2.70 and a beta of 0.58. Agree Realty has a 1 year low of $52.69 and a 1 year high of $69.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.71 and a current ratio of 0.79.
Agree Realty (NYSE:ADC – Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.52 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.51). Agree Realty had a net margin of 32.08% and a return on equity of 3.72%. The company had revenue of $152.58 million during the quarter, compared to analysts’ expectations of $150.35 million. During the same quarter in the prior year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities research analysts anticipate that Agree Realty will post 4.12 EPS for the current fiscal year.
Agree Realty Announces Dividend
Wall Street Analyst Weigh In
Several research firms have commented on ADC. KeyCorp assumed coverage on Agree Realty in a research report on Wednesday, June 12th. They set an overweight rating and a $68.00 price target on the stock. Royal Bank of Canada upped their price target on shares of Agree Realty from $63.00 to $70.00 and gave the company an outperform rating in a research report on Thursday. Stifel Nicolaus raised their price objective on shares of Agree Realty from $67.50 to $71.50 and gave the stock a buy rating in a research report on Wednesday. UBS Group upped their target price on shares of Agree Realty from $60.00 to $67.00 and gave the company a neutral rating in a report on Thursday, July 18th. Finally, StockNews.com raised Agree Realty from a sell rating to a hold rating in a report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $66.95.
Read Our Latest Research Report on ADC
Insider Activity at Agree Realty
In related news, Director Greg Lehmkuhl purchased 1,000 shares of Agree Realty stock in a transaction dated Thursday, May 23rd. The stock was bought at an average cost of $58.99 per share, for a total transaction of $58,990.00. Following the transaction, the director now owns 23,036 shares in the company, valued at $1,358,893.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.
Agree Realty Company Profile
Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.
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