Agree Realty (NYSE:ADC – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 4.100-4.130 for the period, compared to the consensus earnings per share estimate of 4.070. The company issued revenue guidance of -. Agree Realty also updated its FY24 guidance to $4.10-$4.13 EPS.
Agree Realty Stock Performance
ADC traded down $0.30 on Thursday, reaching $58.07. The stock had a trading volume of 831,557 shares, compared to its average volume of 1,063,133. The business’s 50-day moving average price is $56.62 and its two-hundred day moving average price is $58.25. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. Agree Realty has a 12-month low of $52.69 and a 12-month high of $69.26. The company has a market cap of $5.84 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 2.66 and a beta of 0.52.
Agree Realty Increases Dividend
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be issued a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 5.17%. This is a boost from Agree Realty’s previous monthly dividend of $0.25. The ex-dividend date is Monday, April 29th. Agree Realty’s payout ratio is presently 174.12%.
Analyst Upgrades and Downgrades
Read Our Latest Research Report on Agree Realty
Insiders Place Their Bets
In other news, Director John Rakolta, Jr. acquired 20,430 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was acquired at an average cost of $57.00 per share, with a total value of $1,164,510.00. Following the completion of the acquisition, the director now owns 392,549 shares of the company’s stock, valued at $22,375,293. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Richard Agree bought 16,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $55.50 per share, with a total value of $888,000.00. Following the completion of the acquisition, the chairman now owns 135,855 shares in the company, valued at approximately $7,539,952.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Rakolta, Jr. purchased 20,430 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were bought at an average cost of $57.00 per share, with a total value of $1,164,510.00. Following the completion of the acquisition, the director now owns 392,549 shares of the company’s stock, valued at $22,375,293. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 42,482 shares of company stock valued at $2,397,572. 1.80% of the stock is owned by corporate insiders.
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.
Recommended Stories
- Five stocks we like better than Agree Realty
- Quiet Period Expirations Explained
- Hasbro’s Management Made All the Right Calls This Quarter
- Consumer Staples Stocks, Explained
- Caterpillar’s Market Reset Isn’t Over: Get Ready for Lower Prices
- Find and Profitably Trade Stocks at 52-Week Lows
- Power Surge: Utilities Sector’s Resilience Shines
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.