Agree Realty Co. (NYSE:ADC – Get Rating) – Analysts at Capital One Financial lowered their Q3 2022 earnings per share (EPS) estimates for Agree Realty in a note issued to investors on Tuesday, October 4th. Capital One Financial analyst C. Lucas now expects that the real estate investment trust will earn $0.95 per share for the quarter, down from their previous estimate of $0.99. The consensus estimate for Agree Realty’s current full-year earnings is $3.88 per share. Capital One Financial also issued estimates for Agree Realty’s Q4 2022 earnings at $0.96 EPS, FY2022 earnings at $3.85 EPS, Q1 2023 earnings at $0.97 EPS, Q2 2023 earnings at $0.97 EPS, Q3 2023 earnings at $0.99 EPS, Q4 2023 earnings at $0.99 EPS, FY2023 earnings at $3.92 EPS, Q1 2024 earnings at $0.99 EPS, Q2 2024 earnings at $0.99 EPS, Q3 2024 earnings at $1.03 EPS, FY2024 earnings at $4.05 EPS and FY2025 earnings at $4.27 EPS.
ADC has been the subject of several other reports. Royal Bank of Canada raised their target price on Agree Realty from $76.00 to $83.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Credit Suisse Group began coverage on Agree Realty in a research report on Wednesday, June 22nd. They issued an “outperform” rating and a $78.00 target price for the company. Truist Financial raised their target price on Agree Realty from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, August 22nd. JMP Securities raised their target price on Agree Realty from $81.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 3rd. Finally, Citigroup lifted their price objective on Agree Realty to $80.00 in a report on Monday, August 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.41.
Agree Realty Stock Down 1.5 %
Shares of ADC stock opened at $65.77 on Thursday. The stock has a market cap of $5.25 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 2.59 and a beta of 0.45. Agree Realty has a one year low of $61.62 and a one year high of $80.44. The stock has a fifty day moving average price of $75.06 and a 200 day moving average price of $71.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.98 and a quick ratio of 0.98.
Agree Realty (NYSE:ADC – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. Agree Realty had a return on equity of 4.38% and a net margin of 37.13%. During the same period in the previous year, the business earned $0.89 earnings per share.
Institutional Trading of Agree Realty
Hedge funds and other institutional investors have recently made changes to their positions in the business. North Star Investment Management Corp. acquired a new stake in shares of Agree Realty in the first quarter valued at $33,000. Meeder Asset Management Inc. increased its stake in shares of Agree Realty by 88.1% in the second quarter. Meeder Asset Management Inc. now owns 476 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 223 shares in the last quarter. CWM LLC increased its stake in shares of Agree Realty by 261.5% in the first quarter. CWM LLC now owns 564 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 408 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in shares of Agree Realty in the first quarter valued at $38,000. Finally, New Century Advisors LLC increased its stake in shares of Agree Realty by 56.1% in the second quarter. New Century Advisors LLC now owns 576 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 207 shares in the last quarter.
Agree Realty Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.234 dividend. The ex-dividend date is Thursday, September 29th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 4.27%. Agree Realty’s dividend payout ratio (DPR) is presently 148.68%.
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 September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.
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