Analysts Expect Agree Realty Co. (NYSE:ADC) Will Announce Quarterly Sales of $96.02 Million

Brokerages forecast that Agree Realty Co. (NYSE:ADCGet Rating) will announce sales of $96.02 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Agree Realty’s earnings. The highest sales estimate is $99.07 million and the lowest is $91.60 million. Agree Realty posted sales of $77.83 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.4%. The firm is expected to report its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Agree Realty will report full year sales of $409.61 million for the current financial year, with estimates ranging from $367.47 million to $427.68 million. For the next financial year, analysts anticipate that the company will report sales of $485.21 million, with estimates ranging from $370.41 million to $518.21 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Agree Realty.

Agree Realty (NYSE:ADCGet Rating) last announced its quarterly earnings data on Monday, February 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.03). Agree Realty had a net margin of 36.03% and a return on equity of 3.97%. During the same quarter in the previous year, the business earned $0.84 EPS.

A number of equities research analysts have issued reports on the stock. Mizuho cut their price objective on shares of Agree Realty from $75.00 to $69.00 in a report on Thursday, January 20th. Raymond James cut their target price on shares of Agree Realty from $83.00 to $76.00 and set a “strong-buy” rating for the company in a report on Thursday, February 24th. Stifel Nicolaus cut their target price on shares of Agree Realty from $81.00 to $80.50 and set a “buy” rating for the company in a report on Wednesday, February 23rd. Bank of America began coverage on shares of Agree Realty in a report on Tuesday, February 8th. They issued a “neutral” rating and a $72.00 target price for the company. Finally, StockNews.com began coverage on shares of Agree Realty in a report on Thursday, March 31st. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $76.32.

ADC traded down $2.81 during trading on Monday, reaching $67.92. 610,244 shares of the company traded hands, compared to its average volume of 623,028. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.11. Agree Realty has a 12-month low of $61.62 and a 12-month high of $75.95. The firm has a fifty day simple moving average of $66.52 and a 200 day simple moving average of $67.51. The company has a market cap of $4.85 billion, a P/E ratio of 38.16, a PEG ratio of 2.28 and a beta of 0.45.

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, April 29th will be paid a dividend of $0.234 per share. This represents a $2.81 annualized dividend and a yield of 4.13%. This is a positive change from Agree Realty’s previous monthly dividend of $0.23. The ex-dividend date is Thursday, April 28th. Agree Realty’s payout ratio is presently 152.81%.

In other news, CEO Joey Agree acquired 1,749 shares of the company’s stock in a transaction on Tuesday, March 22nd. The stock was bought at an average cost of $64.03 per share, with a total value of $111,988.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Consolidated Planning Corp bought a new stake in shares of Agree Realty during the third quarter worth $26,000. AGF Investments LLC bought a new stake in shares of Agree Realty during the fourth quarter worth $37,000. CWM LLC lifted its position in shares of Agree Realty by 261.5% during the first quarter. CWM LLC now owns 564 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 408 shares during the last quarter. UMB Bank N A MO bought a new stake in shares of Agree Realty during the fourth quarter worth $49,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Agree Realty during the third quarter worth $74,000.

Agree Realty Company Profile (Get Rating)

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 September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.

Featured Articles

Get a free copy of the Zacks research report on Agree Realty (ADC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Agree Realty (NYSE:ADC)

Receive News & Ratings for Agree Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agree Realty and related companies with MarketBeat.com's FREE daily email newsletter.