Analysts Expect Agree Realty Co. (ADC) to Post $0.74 EPS

Share on StockTwits

Wall Street brokerages expect Agree Realty Co. (NYSE:ADC) to announce earnings per share (EPS) of $0.74 for the current quarter, Zacks reports. Five analysts have provided estimates for Agree Realty’s earnings, with the lowest EPS estimate coming in at $0.73 and the highest estimate coming in at $0.75. Agree Realty posted earnings of $0.69 per share during the same quarter last year, which would indicate a positive year over year growth rate of 7.2%. The firm is expected to announce its next quarterly earnings results on Monday, October 22nd.

On average, analysts expect that Agree Realty will report full year earnings of $2.90 per share for the current financial year, with EPS estimates ranging from $2.88 to $2.92. For the next year, analysts forecast that the company will post earnings of $3.09 per share, with EPS estimates ranging from $3.04 to $3.14. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Agree Realty.

Agree Realty (NYSE:ADC) last issued its earnings results on Monday, July 23rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06. Agree Realty had a net margin of 43.90% and a return on equity of 6.53%. The business had revenue of $35.71 million for the quarter, compared to analysts’ expectations of $35.50 million.

ADC has been the topic of a number of analyst reports. SunTrust Banks set a $57.00 target price on shares of Agree Realty and gave the company a “buy” rating in a report on Tuesday, August 7th. Stifel Nicolaus boosted their target price on shares of Agree Realty from $55.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Finally, ValuEngine raised shares of Agree Realty from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $55.75.

Shares of ADC stock opened at $56.13 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.71. Agree Realty has a 1 year low of $43.74 and a 1 year high of $56.28. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 3.86 and a beta of 0.33.

Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Agree Realty by 54.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,083 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 1,082 shares during the period. SG Americas Securities LLC increased its holdings in shares of Agree Realty by 73.5% in the first quarter. SG Americas Securities LLC now owns 3,959 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 1,677 shares during the period. Hsbc Holdings PLC bought a new position in shares of Agree Realty in the first quarter worth $209,000. Oppenheimer Asset Management Inc. bought a new position in shares of Agree Realty in the second quarter worth $217,000. Finally, Amalgamated Bank bought a new position in shares of Agree Realty in the second quarter worth $233,000. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

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 June 30, 2018, the Company owned and operated a portfolio of 481 properties, located in 44 states and containing approximately 9.3 million square feet of gross leasable space.

Featured Story: Stock Symbols Definition, Examples, Lookup

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.

Leave a Reply