Analysts expect that Agree Realty Co. (NYSE:ADC) will report sales of $50.85 million for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Agree Realty’s earnings. The highest sales estimate is $52.24 million and the lowest is $48.14 million. Agree Realty posted sales of $40.70 million during the same quarter last year, which suggests a positive year-over-year growth rate of 24.9%. The business is expected to issue its next earnings report after the market closes on Thursday, February 20th.

According to Zacks, analysts expect that Agree Realty will report full-year sales of $186.48 million for the current year, with estimates ranging from $183.48 million to $188.40 million. For the next financial year, analysts forecast that the company will post sales of $226.89 million, with estimates ranging from $193.56 million to $240.25 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Agree Realty.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.06. Agree Realty had a net margin of 40.18% and a return on equity of 5.16%. The company had revenue of $48.08 million for the quarter, compared to the consensus estimate of $47.28 million.

A number of analysts have recently weighed in on the company. Berenberg Bank assumed coverage on Agree Realty in a research note on Tuesday, October 1st. They set a “buy” rating and a $82.00 price objective for the company. ValuEngine lowered Agree Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded Agree Realty from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Capital One Financial started coverage on Agree Realty in a report on Thursday, December 5th. They set an “overweight” rating and a $82.00 price target for the company. Finally, Citigroup cut Agree Realty from a “buy” rating to a “neutral” rating in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $80.50.

In other Agree Realty news, Director Greg Lehmkuhl purchased 500 shares of the stock in a transaction on Monday, December 9th. The shares were bought at an average price of $72.69 per share, for a total transaction of $36,345.00. Following the completion of the transaction, the director now owns 5,536 shares of the company’s stock, valued at approximately $402,411.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 1,273 shares of company stock worth $89,782 in the last 90 days. Company insiders own 3.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Scout Investments Inc. purchased a new position in shares of Agree Realty during the fourth quarter worth $7,557,000. State of Alaska Department of Revenue increased its position in Agree Realty by 22.5% in the 4th quarter. State of Alaska Department of Revenue now owns 43,779 shares of the real estate investment trust’s stock valued at $3,071,000 after acquiring an additional 8,040 shares during the period. Evoke Wealth LLC acquired a new position in Agree Realty in the 3rd quarter valued at about $52,000. Metropolitan Life Insurance Co NY increased its position in Agree Realty by 19.3% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 15,012 shares of the real estate investment trust’s stock worth $1,098,000 after purchasing an additional 2,429 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Agree Realty during the 3rd quarter worth approximately $1,133,000.

Shares of ADC stock traded down $1.00 during trading on Friday, hitting $70.12. The company had a trading volume of 1,415 shares, compared to its average volume of 472,190. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.62. The stock’s 50-day moving average is $70.68 and its two-hundred day moving average is $71.47. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 3.09 and a beta of -0.05. Agree Realty has a 52 week low of $60.09 and a 52 week high of $79.54.

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were paid a $0.585 dividend. This is an increase from Agree Realty’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $2.34 dividend on an annualized basis and a dividend yield of 3.34%. Agree Realty’s dividend payout ratio is presently 82.11%.

About Agree Realty

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 March 31, 2019, the Company owned and operated a portfolio of 694 properties, located in 46 states and containing approximately 11.9 million square feet of gross leasable space.

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Earnings History and Estimates for Agree Realty (NYSE:ADC)

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