Brokerages forecast that Agree Realty Co. (NYSE:ADC) will announce $0.70 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Agree Realty’s earnings, with estimates ranging from $0.68 to $0.72. Agree Realty reported earnings of $0.65 per share in the same quarter last year, which suggests a positive year over year growth rate of 7.7%. The firm is scheduled to announce its next earnings report on Monday, April 23rd.
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 $2.91. For the next year, analysts expect that the business will report earnings of $3.12 per share, with EPS estimates ranging from $3.06 to $3.14. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Agree Realty.
Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Thursday, February 22nd. The real estate investment trust reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $31.52 million during the quarter, compared to analyst estimates of $31.46 million. Agree Realty had a net margin of 49.86% and a return on equity of 7.22%. Agree Realty’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS.
In other Agree Realty news, CFO Clayton R. Thelen acquired 1,010 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were acquired at an average cost of $49.56 per share, with a total value of $50,055.60. Following the acquisition, the chief financial officer now directly owns 5,073 shares of the company’s stock, valued at $251,417.88. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.40% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in ADC. Delpha Capital Management LLC purchased a new stake in shares of Agree Realty in the 4th quarter valued at $109,000. Victory Capital Management Inc. boosted its holdings in shares of Agree Realty by 154.5% in the 3rd quarter. Victory Capital Management Inc. now owns 2,990 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 1,815 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of Agree Realty in the 3rd quarter valued at $185,000. Amalgamated Bank purchased a new stake in shares of Agree Realty in the 4th quarter valued at $211,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Agree Realty in the 4th quarter valued at $213,000. 89.72% of the stock is currently owned by institutional investors and hedge funds.
Agree Realty (NYSE ADC) opened at $47.10 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.15 and a current ratio of 2.15. Agree Realty has a 52 week low of $43.74 and a 52 week high of $53.65. The stock has a market cap of $1,371.43, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 3.25 and a beta of 0.44.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Wednesday, March 28th. Agree Realty’s dividend payout ratio (DPR) is currently 99.52%.
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About Agree Realty
Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership). As of December 31, 2016, its portfolio consisted of 366 properties located in 43 states and totaling approximately seven million square feet of gross leasable area (GLA).
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