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.
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