Agree Realty (NYSE:ADC – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $4.12-4.14 for the period, compared to the consensus EPS estimate of $4.10. Agree Realty also updated its FY 2024 guidance to 4.120-4.140 EPS.
Agree Realty Trading Up 2.4 %
Shares of NYSE:ADC traded up $1.79 during midday trading on Wednesday, hitting $76.90. 168,313 shares of the stock traded hands, compared to its average volume of 942,129. The stock has a market capitalization of $7.74 billion, a PE ratio of 44.18, a P/E/G ratio of 2.47 and a beta of 0.61. The business’s 50 day moving average is $74.30 and its two-hundred day moving average is $66.34. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.54. Agree Realty has a one year low of $52.69 and a one year high of $77.30.
Agree Realty (NYSE:ADC – Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). The business had revenue of $154.33 million during the quarter, compared to analysts’ expectations of $152.83 million. Agree Realty had a return on equity of 3.72% and a net margin of 32.08%. Agree Realty’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 EPS. As a group, research analysts forecast that Agree Realty will post 4.11 earnings per share for the current year.
Agree Realty Increases Dividend
Wall Street Analysts Forecast Growth
Several research firms have weighed in on ADC. Royal Bank of Canada increased their price target on shares of Agree Realty from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 price target (up from $77.00) on shares of Agree Realty in a research report on Tuesday, October 1st. Stifel Nicolaus increased their price target on shares of Agree Realty from $67.50 to $71.50 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. UBS Group increased their price target on shares of Agree Realty from $72.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Truist Financial increased their price objective on shares of Agree Realty from $68.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and a consensus price target of $73.04.
Get Our Latest Stock Report on Agree Realty
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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