Agree Realty (NYSE:ADC – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.10-$4.13 for the period, compared to the consensus estimate of $4.07.
Agree Realty Stock Up 1.2 %
NYSE ADC traded up $0.66 during trading hours on Tuesday, hitting $57.56. The company had a trading volume of 1,177,528 shares, compared to its average volume of 1,056,963. Agree Realty has a fifty-two week low of $52.69 and a fifty-two week high of $69.26. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 2.62 and a beta of 0.52. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.74 and a quick ratio of 0.74. The firm’s 50 day moving average is $56.56 and its 200 day moving average is $58.22.
Agree Realty Increases Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.21%. This is a positive change from Agree Realty’s previous monthly dividend of $0.25. The ex-dividend date of this dividend is Monday, April 29th. Agree Realty’s payout ratio is presently 173.10%.
Analysts Set New Price Targets
Check Out Our Latest Research Report on Agree Realty
Insider Buying and Selling at Agree Realty
In other Agree Realty news, Chairman Richard Agree acquired 16,000 shares of Agree Realty stock in a transaction dated Thursday, February 29th. The stock was acquired at an average cost of $55.50 per share, for a total transaction of $888,000.00. Following the completion of the transaction, the chairman now owns 135,855 shares in the company, valued at approximately $7,539,952.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Joey Agree purchased 2,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $57.56 per share, with a total value of $115,120.00. Following the completion of the acquisition, the chief executive officer now owns 557,903 shares of the company’s stock, valued at $32,112,896.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard Agree purchased 16,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was bought at an average cost of $55.50 per share, for a total transaction of $888,000.00. Following the acquisition, the chairman now directly owns 135,855 shares of the company’s stock, valued at approximately $7,539,952.50. The disclosure for this purchase can be found here. Insiders purchased a total of 42,482 shares of company stock worth $2,397,572 over the last ninety days. Company insiders own 1.80% of the company’s stock.
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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